Angie Henson - May 10, 2024

Effective Strategies to Attract and Retain Employees

Hire the most qualified talent, and keep them satisfied, with these tactics.

In today’s competitive job market, companies must go to great lengths to attract and retain top talent. Finding the right employees—and keeping them on board—is key to organizational success. In this article, we’ll discuss innovative recruitment strategies that will help you attract the best candidates for every position.

Enhancing Company Culture

Company culture plays a central role in shaping employee satisfaction, which means it strongly influences retention.

How can you foster a positive work environment?

● Coach your managers on how to act as inspirational leaders. By helping teams connect to your company’s vision—and believe in their own ability to fulfill it—they’ll instill a vibrant culture.
Define your values and make sure leaders are modeling them in their work.
● Create opportunities for team members to get to know each other on a human level.
● Prioritize transparency and clear communication. Keep employees apprised of all matters that concern them.
● Cultivate an inclusive culture by seeking employee input on decisions and plans. For example, hold town halls to gather ideas.
● Strive to eliminate bias, value each person’s contributions, and provide equal opportunities for everyone.
● Make sure leaders are regularly checking on employees’ needs, sharing feedback, and providing support. When leaders provide mentorship, morale and engagement will rise.
By following these principles, you’ll foster a thriving workplace culture that attracts top talent and keeps them engaged for the long haul.

Offering Competitive Compensation

A competitive salary will help attract and retain star employees, but don’t overlook your benefits package. For instance, mental health benefits hold vital importance. Forty-two percent of employees with strong mental health benefits say they’re much more likely to stay with their company because of these benefits.

Regularly conduct research on typical salaries in your field and geographic region. Then, make increases to stay competitive when needed. Also revisit the benefits you offer, like paid time off (PTO), health care, rewards, sign-on bonuses, parental leave, caregiver leave, and additional perks, like gym memberships. Seek input from employees on the types of incentives and benefits they value most.

Embrace pay transparency to make a good impression on candidates, too. Listing a salary range in job descriptions will enhance your employer brand, positioning your company as more trustworthy, according to Deloitte.

Implementing Professional Development

Offer a robust range of professional development opportunities to keep employees engaged. Also, talk with them about career advancement pathways, so they can envision an exciting future with your company.
● Design a standard set of trainings offered to all employees at a given level, so everyone will have the same opportunities. For example, offer leadership training to anyone considering advancing into a managerial position.
● Provide ways to explore specific interests. If an employee wants to engage in cross-training, find them a mentor in that area, for example. Talk with people regularly about how developmental opportunities can further their unique career goals.
● Support employees in attending outside conferences and workshops that support their growth.
● Encourage continuous learning—and celebrate the results. Consider creating a “lunch and learn” program where employees take turns sharing what they’ve learned with coworkers. Everyone gets a turn to be the expert, which solidifies what they’ve just learned.
Morale will rise as employees feel empowered to delve into higher-level learning.

Improving Work-Life Balance

According to a Qualtrics survey, employees spent 8 hours per day on productive activities in 2019, yet 40% were on their computers after 10 p.m. Plus, 26% of work is done at home on evenings and weekends. Clearly, work hours have been stretching longer and longer—without a corresponding increase in productivity.

The American Psychological Association (APA) found that 95% of employees feel it is highly (61%) or somewhat (34%) important to work in a company that prioritizes work-life balance. Hence, work-life balance initiatives can have a powerful influence on employee satisfaction and retention. Such initiatives can include a range of programs, actions, and policies, like these:

● Urging leaders and managers to introduce and then model strong work-life balance practices. This will encourage team members to leave work behind at the end of the day.
● Offering flexible working hours and remote options.
● Conducting time- and stress-management workshops.
● Offering mindfulness training to help employees learn to be fully present wherever they are—at work or at home.
Using these strategies, you’ll help employees use their time wisely, reducing stress and helping them make the most of their downtime.

Sharing Feedback and Recognition

Only one in three employees say they’ve received recognition for their work in the past week, says Gallup. And employees who don’t feel recognized are twice as likely to quit in the next year. So, implement employee feedback and recognition programs to boost morale and loyalty. Here are a few types of recognition to consider:

● Praise from a top leader, like the CEO.
● Formal awards given during a company meeting.
● Incentive pay, bonuses, or gift certificates.
● Recognition from a manager of a job well done.
Using a mix of both formal and informal recognition will help keep motivation high.

Crafting Compelling Job Descriptions

Finally, to attract the best talent, write job descriptions that show how rewarding the work will be. List the essential functions of the role. Then, write a compelling summary to use as your intro. State the knowledge, skills, experience, and credentials that will qualify an applicant to carry out the duties of this role, too. Highlight benefits for the applicant as well—not only in terms of financial rewards, but in terms of company culture and growth opportunities. By taking these steps, you’ll not only hire great talent; you’ll also place the right people in the right roles.

Lastly, encourage applicants to apply even if they don’t possess 100% of the desired qualifications, as you can provide training in certain skill sets. You could use the language “Preferred Qualifications” instead of “Requirements” to reinforce this point.

In conclusion

By following a holistic approach to employee attraction and retention, you’ll draw and retain high-caliber talent. Periodically revisit your total rewards, talent management, and recruitment strategies to keep your offerings and company culture aligned with employee needs and expectations. Through these strategies, you’ll cultivate a loyal, engaged, and highly driven workforce.

Tags: Business Growth Business Leadership

  1. About the Author:

  2. About the Author:

    As a Principal at Valesco, Angie Henson serves in key roles related to new investment origination, portfolio management, and investor relations. She directs the firm’s strategic acquisition planning and program management as acting head of research and business development operations since 2002. Angie holds a Bachelor of Science from Tarleton State University and a certificate in entrepreneurial studies from Southern Methodist University.

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