Will your HR executives get “ghosted” by top talent this year? HR professionals can avoid this phenomenon in 2019 by modernizing their strategy and relinquishing dated habits in their talent management process. To replenish your team’s lacking areas to attract and retain top talent, you’ll have to be aware of the latest trends in talent acquisition and management as you dive into the talent pool.
Why You Should be Working to Attract and Retain Top Talent Successfully
The individuals who devote their time and skills to your organization mean more than simply accomplishing a few projects and filling empty cubicles. These individuals are the backbone of your company’s success. Finding and selecting candidates who are qualified with the right skill sets, fit your company culture, and have a positive attitude will decide whether your organization will prosper or stay stagnant this year. Given what is at stake here, why wouldn’t you utilize every tool available to recruit, attract and retain the top qualified candidates in today’s market?
According to the Bureau of Labor Statistics, the unemployment rate in the United States is just 3.6 percent. This means greater competition within the talent market is currently underway. Employers are scrambling to stand out in employment searches in order to attract and retain top talent. Compiling the best leading candidates is no easy feat, and many employers find themselves being “left on read”, left hanging and wondering why they are not being chosen by job-seekers. As their calls and emails to top candidates go unanswered, many are wondering what inventive tactics they can utilize this year in order to find leading candidates and restock their teams with fresh talent.
Keeping up with current talent management trends:
HR leaders are changing the way they manage talent to keep up with current trends. Employers can stay ahead of competitors and earn their spot at the top of job searches by applying these innovative tactics:
- Providing transparency and a strong employer brand
- Boasting a positive company culture with unique benefits offered
- Implementing an employee training plan
- Using advanced HR technology and recruiting software
Benefits brokers can also help their employers gain a competitive advantage within the talent market by attracting top talent with enticing benefits package offerings.
Employer transparency and establishing your brand
According to a recent LinkedIn survey on Why and How People Change Jobs, forty-nine percent of candidates hesitate or decline to accept a position, no matter how high it pays, because they feel they do not know what it’s like to work for that company. People feel uncertain when it comes to the unknown and tend to fall back if they don’t feel comfortable.
Companies can showcase their unique culture and establish their brand in a positive light to boost transparency, improve their reputation, attract and retain top talent and reduce employee turnover as well.
Some simple ways to accomplish this include nurturing unique company culture indicators and through embracing of advanced technology to improve communication initiatives and reach new candidates.
Positive company culture and unique benefits
Unlike past generations, candidates today look for more than a 9- to- 5 career that pays them well. They crave a harmonious work-life balance, premier benefits and a company with a culture that is welcoming, fun, egregious and makes them feel respected. A positive company culture will help to build positive employee-employer relationships because offering these perks makes employees feel appreciated.
Candidates from today’s talent pool can be expected to ask how an organization’s culture is different than the rest, with the pretense of figuring out how they will fit in there. Top applicants today look for employers who will encourage a company culture that offers innovative benefits, such as:
- All encompassing healthcare options
- Child and day care support
- Maternity and paternity leave
- Grieving periods with the loss of a loved one
- Pet insurance
- Wellness support groups (smoking cessation, weight loss challenges)
- Personal development programs (book clubs, stress management, mentoring)
- Company sports teams
- Team outings and festivities
- Student loan assistance
- Retirement security
Employers who offer flexibility are also in high demand. People want a less structured work-life balance, and adjustable work hours is one way to satisfy this. Flexible scheduling and the option to work remotely is one way to allow this. It offers employees a break from commuting, giving them the chance to work when they want, balance their work life from their personal life and make their own schedules so they can perform when they are recharged and refreshed.
Offering referral incentives is another perk businesses can use to help their recruiting process. It’s a double- win because valued employees are likely to recommend candidates similar in quality and work ethic to them. They are then rewarded for it with compensation, which could include a monetary bonus, floating compensation, or even PTO. Allowing internal employees to suggest leads to hiring managers is a smart move that eases the workload for HR executives.
Implementing an employee training plan
An employee training plan gives employees an idea of what lays in store from them in regard to position expectations and workplace culture. Knowing what to expect and feeling a company is investing in you can be reassuring. A training plan also advocates for a growth mindset, providing a window to build valuable skills, learn how to be team players and become leaders.
Additionally, trainings simultaneously allow employers to monitor progress, gaging how they can boost engagement and better communicate with their team in the future.
Attract and Retain Top Talent within InfinityHR and Advanced HR Technology and Recruiting Software
Employers can improve processes and take advantage of a multitude of HR automated solutions available to them in order to revamp their recruiting, onboarding, performance management, learning management and succession planning initiatives. With the use of an integrated, secure automated platform, module(s), application(s) and more, employers can save time and money by eliminating tedious tasks and focus on working towards their primary goals.
The InfinityHR cloud-based, HCM platform can address challenges employers face within the sphere of talent management. With automated modules, the platform compiles all essential HR tasks together in one location, streamlining data to simplify talent management activities for administrators and employers, while helping them to stay ahead of current industry trends. Scalable talent management modules can be customized to each company, and include:
- Applicant tracking system
- Performance management
- Learning management
- Succession planning
The HCM platform will help employers navigate the challenging web of talent management activities and dive into the talent pool so they don’t have to. The days of excel spreadsheets and post it notes are long over. Scalable modules can be customized to the needs of each employer, so they can gain cut costs and save money while still gaining a definite competitive advantage in attracting and retaining top talent.
With the help of InfinityHR, employers can get back to the work that matters most.