Maintaining competitiveness in the job market today has become a game of Whac-A-Mole for employers. Candidates and current employees seem to have a never-ending list of benefits and flexible arrangements for leaders to consider. But companies that cannot –or choose not to–adapt to changing trends will eventually be left behind as the modern workforce looks for jobs elsewhere.
The future of work is now– companies who keep up with changing times will be best at attracting and retaining talent in the long run. Here are four ways your competitors attract top talent– and how you can, too.
1. HELP ME GROW: No matter what level you hire an employee at or what potential career path you have to offer them, growth is a highly underutilized carrot to offer. If you have developed (or are developing) a growth-focused culture, make this a key talking point in your discussions with employees and candidates alike. You’ll find your acceptance rate on offers will improve and you’ll have more internal candidates raising their hands for opportunities.
Although the talk is all about pay and benefits today, more than sixty percent of the national workforce quit due to the lack of growth opportunities in 2021. According to Pew Research Center, a lack of professional development opportunities is one of the main reasons people quit their jobs–63% of U.S. workers who resigned in 2021 cited this as one of their main reasons for departure. Mentorship programs, trainings, or opportunities to further education are just some professional development opportunities a company can offer to stay competitive and keep employees around.
2. PRIORITIZE FIT & SPEED: Recruiting in today’s market is a full-cycle sales effort. If you’re not focusing on these 3 key factors as you pursue candidates, you’re losing out on great people:
1. Fit-to-Role: Think about the difference in your ability to attract top candidates when, using a tool like The Predictive Index, you have the data-driven knowledge to say: “Based on your talent profile, you’d be a perfect fit for this role. You’ve got an analytical drive and depth of detail orientation that exactly meets what we’ve been looking for. The hiring manager for this role is going to LOVE YOU!” Translation: I see you and have a role you’ll thrive in. Come join us!
2. Culture-Fit: If you haven’t discovered the People Analyzer from EOS Worldwide, we highly recommend its implementation into your hiring practices. The intent is to evaluate whether the candidate displays the organizations values with a simple + (yes), - (no) or +/- (sometimes). You’ll love its elegant simplicity.
3. Speed: Reducing the amount of time it takes to fill your open roles is just as critical as the above two points. Candidates today expect responsiveness and respect. Waiting weeks on end to hear back from you or expecting a candidate to come on site 3 different times to meet different people doesn’t respect their time or help you get the role filled!
3. Making a REAL Impact and Centering Important Causes: Younger generations of workers demand that employers demonstrate “purpose beyond profit.” Modern job seekers prioritize working for companies that positively impact people and the planet as doing so drives overall employee engagement and happiness. According to a Gallup poll, employees who agree that their company is driving positive change are twice as likely to be engaged in their work and 5.5 times more likely to trust their company leadership. Centering social impact is an essential way to create an engaged workforce. But companies do not have to be in the business of social change to make an impact–internal volunteer programs, employee resource groups, and other purpose-driven initiatives can help companies empower employees to do and feel good.
4. Being Adaptable: As many as 70% of employees worked exclusively from home in May of 2020, less than three months into the pandemic. As a business community, we adapted when we HAD to. Will we continue to refine our employment brand? Will we embrace the future of work? As employers, we must maintain flexibility and plan for changes that are already taking place to retain competitiveness in the job market. Creating a robust future-of-work plan will help employers stay nimble as the workforce and employees’ demands continuously change. Meeting the modern workforce where it's at can help companies curate a happy and engaged workforce, while also setting them up for success for years to come.
Together, let’s conclude this game of Whac-A-Mole and help you realize the impactful results of an engaged workforce, speed up your hiring process, or integrate best-fit tools like The Predictive Index. Activate’s “why’’ is to bring JOY and PURPOSE to your people through their work. We create workplaces that empower their employees to realize their greatest potential. For more information about Activate Human Capital Group’s Offerings or to schedule a demonstration of our tools, contact us today.