Human capital is any business’s most valuable resource. Attracting the highest quality candidates and retaining your most valuable staff is key to the success and growth of your organization.
While financial incentives are one of the most common ways to attract the people you want to your company, many prospective employees are now seeking more. We’ve outlined five non-financial value adds you can utilize to attract and retain talent.
1. Be Clear About Your Values & Mission
More people, especially highly-talented junior employees, seek workplaces whose mission aligns with their values and are transparent about their goals.
Be upfront about how employees will fit into the vision of the business and what they can contribute — demonstrating the employee’s value from the get-go. Highlighting current charity opportunities or partnerships can also be an excellent way to show candidates that you put action behind your ideas.
2. Don’t Underestimate Company Culture
Showcasing your organization’s values goes hand in hand with ensuring you are projecting and investing in the right company culture. Understand what your prospective employees are looking for in a workplace and aim to provide options that will facilitate the work-life balance that is becoming increasingly important.
Changes like offering increased flexibility, additional days off, and supportive mentorship programs are relatively minor things that can significantly boost positive feelings towards your company culture.
Cross-team collaboration and regular training or team-building experiences show you value the individual and the worker.
3. Encourage a Positive Environment
It has been well-documented that stress can have a detrimental effect on productivity, so creating a positive environment where employees have the room to be creative and learn new skills is essential.
A stressful or toxic workplace won’t breed good work or good ideas. Undertake regular employee satisfaction surveys to gauge how your employees feel about the working environment and discover areas for improvement.
Prioritizing flexibility and positivity will make your organization seem more attractive to new employees, help your current workforce manage burnout, and make them more likely to grow alongside the company.
4. Provide Opportunities for Growth
People who are the most highly skilled in their field are the ones who are most likely to seek the space to develop new skills.
If you are not interested in the career development of your staff, it will become evident to new employees who are eager to progress that you cannot provide them with what they need.
Be clear and upfront about your growth opportunities so staff doesn’t become disillusioned and unfulfilled. Building and implementing professional development tracts show candidates that you will continue investing in them, providing a reciprocal partnership.
5. Be Loud About What Makes You Unique
Top talent will seek top employeers, so consider what makes you such a desirable place to work and get that message out: on your website, on social media, and elsewhere in the world.
Social media can be a valuable tool for advertising new positions and ensuring you’re connecting with the right people. Creating engaging social media posts will boost brand awareness and show a more human side to your organization. Use your social channels also to share content about company events or highlight what you do for your employees.
Be clear about why people should want to work with you and what sets you ahead of other companies. If you build a strong reputation for being a great workplace, more people will talk about you and seek opportunities with you.
These five changes and effective incentives could set your organization apart in attracting the most talented prospective employees — ultimately benefiting your company and bolstering your success. As cost reduction consultants, we have worked with countless organizations to improve business. Find out how our expertise could support you by contacting our team today.