It’s an employee’s market in 2022. Last year, in the wake of The Great Resignation, the job market saw a record number of job openings and more than 4 million Americans quit their jobs.
Employees have more leverage than ever. Companies have to do better than a bigger paycheck to attract and retain talent.
So, what’s the secret to retaining and hiring talent? Use these seven tips for attracting and retaining talent like a pro.
1. Build a Positive Work Culture
Employees want more than a great paycheck and benefits. They want to feel fulfilled and work in an environment that promotes diversity, inclusiveness, and a positive mindset.
Many companies struggle to retain talent because they fail to build a positive work culture. When employees feel disrespected and co-workers or managers behave in unethical ways, they will look for employment elsewhere.
Building a positive work culture means:
- Promoting inclusivity and diversity.
- Making respect a priority.
- Having an open-door policy so employees feel safe and comfortable speaking up.
- Making HR more accessible for personal conversations when issues need to be resolved.
- Encouraging and listening to employee feedback.
- Planning social outings and events.
Employees want to feel valued and heard. After all, it’s their collective hard work that keeps a company going. Building a culture where employees can respectfully share opinions, ideas and feedback openly is a great start.
To ensure that your culture remains positive and aligns with your goals, have a one-on-one with employees and ask them to share:
- What they like and dislike about the company’s culture
- What they love about working here
- What they don’t like about working here
- How they would like to see the culture improve (more benefits, employee development opportunities, etc.)
2. Empower and Provide Room for Growth
Employees are more likely to look for another job if they feel their position isn’t secure or there isn’t room for growth within the company. If you want to attract and retain talent, it’s crucial to empower your employees.
- Help your team work at higher levels.
- Make sure that employees see there is room for advancement and moving up in the company.
Consider the work your employees are doing and whether their current role is best suited to their talents. Putting the right employees in the right positions can make all the difference in work satisfaction and fulfillment.
3. Innovate Without Burnout
Innovation should be something that attracts talent, right? However, research has found that the more innovative a company is, the more likely employees are to quit. But why?
Innovation, as it turns out, is hard on employees and often leads to burnout.
If being innovative is part of your agenda, consider ways to bring your visions to life without burning out your employees. Additionally, make sure that your team feels like your company’s accomplishments are their accomplishments.
4. Recognize Achievements
Part of building a positive work culture where employees feel valued and heard is recognizing achievements.
In fact, 40% of workers say they would put more energy into their work if their efforts were recognized more often.
Make sure that big and small accomplishments are seen and heard. Reward team members for their hard work. Doing so will not only help you retain talent but also motivate your team to perform at their best.
Rewards can come in a lot of different forms. Here are just a few:
- Time off
- A celebratory lunch
- Gift cards or vouchers
- Monetary gifts
When recognizing employees for achievements, make it a priority. For example, if you want to celebrate a success during a meeting, carve out time at the start or end of the meeting to honor the employee. Give recognition the individualized attention it deserves rather than mixing it in with other business.
5. Prioritize Work/Life Balance
Employees value work/life balance, so consider how to embrace providing your employees with such. Don’t expect too much of your team by overworking them. Give them time off. When life happens, allow them to attend to family matters or emergencies outside of work without fear of repercussions.
If team members struggle to maintain a healthy work/life balance, work with them to come to a compromise that allows them to work without sacrificing time with their family.
Flexibility is an attractive quality to employees, and one that will keep them around. In fact, 88% of workers would consider a lower-paying job with flexible hours over a higher-paying job with inflexible schedules.
If you notice employees working more than they typically do, reach out. Be proactive and help them prevent burnout. Further, encourage them to speak up when they feel as if they’re nearing burnout.
6. Offer the Best Tools for the Job
Your company may have a positive work culture with great pay and benefits, but if your team is constantly frustrated by your systems and technology, they may not stick around.
If you want your employees to perform at their best and feel fulfilled in the workplace, you need to provide the best tools for the job. Invest in technology that helps them work smarter, not harder.
Additionally, make sure that you offer comprehensive training and support for new systems and technologies. Employees will be less frustrated and more productive when they understand and appreciate the tools they’re using.
7. Reevaluate Team-Draining Services
If you’re a service-based business, consider evaluating your offerings. Are there any services that are draining your team? You may have offerings that bring your customers joy but not your team.
Consider removing or improving services that take up too much of your team’s time and energy. Is there a way to streamline the process? Can it be outsourced? Talk to your employees to get feedback on how to improve these services to make them more enjoyable or less stressful.
In today’s highly competitive job market, employers have to work harder to attract and retain the best talent. Building a positive work culture, offering flexibility, and empowering your employees can help create a workplace employees want to join and stay in.
At the end of the day, employees want to feel valued and recognized for their accomplishments. They want to feel respected, and they don’t want to sacrifice their personal lives for the sake of work. If you can offer these things to your new hires, they’ll be more likely to stick around.Schedule a Call