2 Tips For Attracting & Keeping Top Talent In Your Industry
By: Dominic Sartino
Tags: Employer Resources
One of the hardest things an employer can do is not just attracting the top talent but then to keep them for the long haul. Not only does this process take time and trust, but company leaders are always keeping the bottom line and costs of hiring a new person in mind. I am going to ask you to take a brave step before reading further. Let’s take off the accountant hat and put on the forward-thinking leadership hat…
You have spent dozens of man hours interviewing candidates to find “the one” that is the perfect fit. Better yet, this candidate is excited to work for you and is asking all the right questions that reassure you he is capable of doing a great job. How do you close the deal to ensure that he won’t be tempted by a counter offer?
1: SEAL THE DEAL
If you’re working with any recruiter worth their salt, they have pre-closed the candidate they presented and should be working WITH you to put the offer together. Don’t be afraid to ask a recruiter to help with this as they know important information about the candidate that you might not have gotten around to asking. Involve your recruiter in the full process of bringing candidates onboard, not just sending you resumes. They want this hire to go through just as badly as you do since their reputation in the industry hold just as much value as the fees they charge.
When it comes to the offer stage, trying to get the candidate at the lowest possible price might make good business sense up front, but not good people sense for the long term. If you want a key candidate to feel valued, be willing to pay an extra bump in salary so that making the move is a no-brainer. If you can show candidates that you are willing to “do what it takes” to get the right people in your organization, they will trust you when they are forming their teams in the future. If your candidate has quoted a range of pay that they would like to fall within, it would be a foolish move to give them the very bottom of that scale. If they are a key player and fall into a strategic role, find a number in the top half of their range so that they feel like it is a worthy move and that they will be a valued individual. The last thing you want to happen is a frustrating back and forth offer. Remove second thoughts from your candidates mind so that when the counter offer comes from their previous employer (and if they truly are a good candidate – it will), they can confidently say “no thank you” because they have sold out to you and the goals of your company.
2: PUTTING BOREDOM TO DEATH
After interviewing hundreds and thousands of candidates I have found that the top 3 reasons people look to leave their job are lack of support, lack of challenge, or lack of advancement. Notice that salary doesn’t fall into the top 3. So once you have engaged a recruiter and worked with them for talent acquisition bringing you top candidates within your industry, how do you ensure that you can keep those candidates for the long haul?
The fact remains that many candidates are willing to make a lateral move even at the possibility of advancement or at the very least, to work for an employer who sees their potential and wants them to be the best employee they can be. Employers who have programs in place to train employees for new tasks, learn new systems, and give them the versatility to experience new types of projects are much more likely to retain those employees. And if you have a tuition reimbursement package you can likely offer a slightly lower salary and still have a top notch talent acquisition. Not only will this help you grow your organization over the long haul but your recruiter will be able to build how forward thinking your company is when telling your story to the passive market place.
Leaders are always learning. Do you have some big, hairy, audacious, goals on the horizon? You are going to need people who enjoy learning and in turn can teach others. The “promote from within mindset” will not only strengthen employee morale but also save you money. People who have grown up in a company are less likely to leave and have a wealth of knowledge that others can draw from. This synergistic effect will trickle down through your organization and keep key players around for years to come. Most millennials are reported leaving jobs or “job hopping” because of boredom or lack of opportunity. If you are investing in their training so they continue to new learn new types of systems and skills, you will retain young, energetic, industry leaders.
Aside from positive leadership, the number one factor setting Fortune 100 companies apart from the rest of the pack is their willingness to invest in and train their employees. Remember talent acquisition and training is not an expense (although your accountant may tell you differently), it is an investment.
The CFO says to the CEO, “What happens if we train all these people only for them to leave and work for other companies?” The CEO says “What happens if they don’t?”
Author: Dominic Sartino, Executive Recruiter in Industrial Technology
Tags: Employer Resources