Time for Action:
Finding and Retaining Talent in a Competitive Labor Market
This is not your Father’s Labor market anymore!!!
Headlines: The Economy has been strong! Unemployment Hits Record Lows!
Sounds exciting – especially for the job seeker, but there’s a downside for employers.
It’s called competitive labor — fighting to win the war – not only for finding but also for retaining talent. It takes HR savvy and strategy, but you can win.
Battle strategy 101
It boils down to providing a reason for prospective employees to choose you over your competitors and then giving them good reasons to stay. Build a company brand that employees can be proud of – it creates and sustains loyalty. Invest in technology. Be on the cutting edge. Show by your actions that you value your employees. The more that you value and care for your employees, the stronger their reason to stay and the more they will value and care for your customers, creating business success.
6 ways to attract talent and build loyalty
Company Culture: Millennials dominate the workforce. Pay attention to their desires. The fact is that their work is much more than a job. They want a work environment that includes mobility, flexibility, engagement, variety, and an opportunity for work/life balance while contributing to a higher purpose. They seek companies who are involved in giving back to their communities and even globally. Build a mission plan that is based on helping others and doing something positive. Successful pursuit and attainment of a good purpose will lead to a stronger financial bottom line for the company as the organization is driven and faces less turnover!
Transparent Communication: Connected employees are loyal employees. Take time to give and receive honest feedback. Ensure that employees are kept in the loop – from understanding your expectations to how their role fits in the big picture.
Relationship: It’s all about connective action. Get to know your employees – by name as much as possible. Ask about their families, goals, dreams, etc. Encourage mentoring. Plan after-hours company events. Get involved as a company in a civic or charitable event. In other words, create a team, a family spirit.
Positive Affirmation: Express your gratitude for their hard work and input –verbally, in handwritten notes, and in tangible ways. Acknowledge their achievements. Reward exemplary actions with appropriate growth opportunities and advancement.
The Wage Factor: Forget the minimum wage theory. Consider the value of the position balanced against the high cost of turnover, recruiting again, and then retraining, as well as the effect understaffing has on your customers. In the end, paying a higher, more attractive wage is often the less costly route.
Growth Opportunities: Show employees that you value them by placing value on their career. Offer opportunities for personal growth, additional training, and advancement. Initiate mentoring programs that encourage those with more experience coaching those with less. It improves teamwork and builds productivity. Attracting loyal workers begins with hiring the talent best-suited to the position and utilizing temp staff to support permanent team during peak times. Whether you’re looking for that executive search or a team of qualified temps, Action Staffing Group has solutions. We know actions speak louder than words – and we deliver staffing solutions 24/7. Expect nothing less than screened, skilled workers for every situation. Contact us today.