Finding and keeping quality talent continues to be a top concern for companies. The challenge for small businesses is more difficult because they are often competing against larger organizations with more resources. It is akin to treading water in the deep end of a pool or the unfriendly seas.
The Great Resignation is expected to be an issue for employers for several years. According to a recent article from Forbes, there are three fields of thought on this topic: 1) With virtual interviewing and remote work being widely accepted, it’s easier than ever to switch jobs; 2) there is a cyclical nature of generations within the workforce as Boomers retire, and 3) Generation X
The recruiting and retention tactics of the past are no longer working. The time has come for innovation and evolution.
As you face the battle for top talent, we wanted to give you the top tips to help you stay afloat.
- Begin to think about your recruiting strategy as a marketing exercise, not a human resources process — or better yet, turn this strategy over to your marketing team or a consulting firm.
- Always begin with the following questions: “Why would a prospective employee want to work here?” and “How does the job benefit the person?” This will help your organization hone in on its core selling points and what makes it truly unique.
- All organizations should be leveraging social media to recruit. However, this is a “slow-bake” tactic that will not produce immediate results — it often takes six to 12 months.
- Evaluate all of your benefits, not just your traditional insurance offerings.
- Adapt your workplace to make it more attractive: What’s going to incent the employee to ditch the sweats and come to the office? This can include flex-space, personalization, toys, collab zones or features that show off your workplace culture.
- Consider developing a retention plan for your top 20% of high performers to keep them at your organization — this may include compensation, benefits, development opportunities, and more.
- While employee surveys are a great way to obtain feedback related to benefits, culture, policies and so forth, make sure you ACT quickly regarding the results of that survey. Otherwise, it can backfire and create mistrust amongst the staff.
Einstein said, “Insanity is doing the same thing over and over and expecting different results.” As you market your organization to prospective talent, don’t be afraid to think outside of the box, as what worked in the past is no longer working in the present. I am certain that someone has tried it before, as crazy as it may be. The ultimate prize? For many, many years to come, we dream of a superstar that brings fresh ideas, ambition, leadership, and other wonderful employee qualities.
Forbes published an article titled “Predicting how, when or if the great resignation will end”
The Goering Center is the largest educational non-profit center in North America for family and private businesses. The goal of the Center is to nurture and educate family and private businesses to drive a vibrant economy. The Carl H. Lindner College of Business at the University of Cincinnati provides access to a large amount of business programing and expertise. Goering Center members receive real-world insights that strengthen family and private business. You can find more information on the Center at goering.uc.edu.