Finding the right people for your team is always challenging. Even if you think you’ve found the perfect person for a position, there’s no guarantee that the candidate will accept your offer. Talented and smart people are always in great demand, and in an employee’s market, you have to compete with other businesses for their attention. That’s why traditional hiring strategies may not work when filling top positions.
Things would be easier if people came to you. After all, that’s how it worked in the olden days. You would advertise a position and wait for the applications to pour in. However, today’s demand for high-potential employees is outstripping supply, and you need to up the stakes if you want the best candidates to work at your company. Some businesses have even turned to online job portal development to improve their value proposition. Here are a few strategies that will help you attract top-tier talent to your company.
1. Review your compensation package
There’s a reason why many companies are offering more perks and retooling their compensation packages. Top-tier candidates know what they are worth and understand that businesses would fight tooth and nail for their skills. If you are unwilling to upgrade your compensation and benefits packages to meet industry standards, you can’t expect to attract the type of applicants you want to work at your company.
For starters, you need to check if the number you’re offering is at least at par with your competitors. Salaries vary wildly, depending on your location, your industry, and the specific skill set you’re looking for. If you’re in a highly competitive industry with a small labor pool, you may need to get creative when it comes to your benefits packages. Just look at your competitors and ask yourself if you’re doing enough to attract top talent.
2. Invest in your brand
It’s not enough to offer a competitive compensation package, however. Employees today are more conscious of the type of employer they want to work for. Many would rather work for an established brand than an untested startup. That’s why you need to work on your branding if you want candidates to notice you.
Start by building a strong brand that resonates with people. Partner with a marketing agency to launch a campaign that tells your story and mission. Show people what makes your business different and unique. A strong brand can be a great deal more powerful than a big paycheck.
3. Build a strong team
Retaining top talent can be as difficult as attracting them. One of the top reasons for high talent turnover is poor engagement: a recent Gallup report that only 1 out of 5 employees feels a connection to their workplace or their colleagues. The composition of the team is the single most important factor in whether an employee likes their job.
The issue is simple: If your employees don’t like each other, they can’t contribute meaningfully to your business’s growth. Dissatisfaction grows, and your workers will start looking for jobs elsewhere. Make it a point to build a strong foundation before looking for talent.
4. Expand your search
In the days before the internet, businesses tended to source their talent from the local pool. If there aren’t enough people in the area to fill the demand, the positions went unfilled. Today, we can harness the power of digital technologies to expand our search for top candidates. If you limit your search to people in the vicinity, you’ll find it more difficult to find the right candidates for the job.
A final word
At the end of the day, how you attract talent matters as much as what you can offer them. These four strategies will help you attract the best candidates for your business. It also pays to keep a close eye on emerging trends in the labor market to ensure that your hiring practices will keep on attracting top talent.