Recruitment & Retention Strategies- embracing a new mindset
By: Tom Prest
Post-pandemic, the employee mindset has irrevocably changed, impacting the future of our work environment. The roller coaster of these past couple of years has shifted the priorities of the workforce; with now greater importance on work-life balance, needing to feel valued at work, and overall satisfaction. Leaders must adapt to these changes to inspire and motivate their staff. Considering these environmental changes, this article highlights six best practices to embrace to attract and retain top talent.
BEST PRACTICE #1. Get the compensation right
Adjusting your employee’s salary yearly is critical to getting compensation right. Competitive salaries are crucial to attracting and retaining top talent; paying below-market rates runs you the risk of low morale and job satisfaction. To start, learn the data by researching the appropriate salary levels for your field and have salary discussions with appropriate team members to develop better staffing strategies for now and in the future.
BEST PRACTICE #2. Offer a wide range of benefits
Go beyond the conventional benefit offerings by supporting work-life balance, family, and overall health. If you have a tough time being empathetic, make sure you have someone on the leadership team who can help you communicate what employees need to hear today- that they are appreciated and valued as people. Here are a few things to consider:
- Offer paid time off to volunteer at their favorite nonprofit organization
- Contract with an Employee Assistance Program (EAP) that provides counseling and legal support
- Recognize employee anniversaries and birthdays
- Provide short-term disability
- Provide home-office stipend
- Offer increased flexible & hybrid work schedules
Benefits are one of those items that employees value differently. For example, one employee may not appreciate health insurance as much as another because they are on their spouse’s plan. The key is to ask what matters to each individual, then address their wants and needs in the range of benefits you can offer.
BEST PRACTICE #3. Promote purposeful work that has meaning to employees
Employees who are proud of where they work are more likely to stay! Individuals are more connected and engaged when they believe in their workplace’s mission, vision, and values. Do you have values that you nurture and embrace on a daily basis? If you haven’t looked at your mission, vision, and values in a few years, now may be the time to refresh them. Consider the following when developing/evaluating your values:
- Ensure your values are meaningful such as excellence, integrity, and community, which will allow you to build them into everything you do to motivate and engage your staff.
- Establish values that resonate with employees so they become the glue that fosters retention.
- Integrate your values into the employee experience, so they become a part of your everyday practice.
BEST PRACTICE #4. Develop a culture around your intentions
Below are actions your organization can take to put meaning behind your intentions of prioritizing work-life balance and showing that you value your employee.
- Set healthy boundaries to prevent burnout and prevent your staff from being constantly overworked.
- Understand that priorities have changed by embracing that employees want work to be a part of their lives, not consuming it. Let them know you understand this.
- Acknowledge overwork and the need for flex time when your employees go above and beyond by giving them time to rest and recover.
- Improve your performance management process to keep employees engaged by setting quarterly review meetings, defining goals, and making the process collaborative. For more details on this topic, read our newsletter on Best Practice for Employee Performance Reviews.
BEST PRACTICE #5. Support mental-well being
Mental-well being is top of mind for everyone. The massive changes in the past three years have significantly increased the need for mental health services. Offer an EAP (Employee Assistant Program) or ensure your healthcare benefits include strong mental healthcare coverage to ensure staff can access services for themselves or their families when needed.
BEST PRACTICE #6. Recruiting tips: leverage technology, online presence, and networking
For recruiting, embrace networking, your online presence and get employees involved (e.g., referral bonuses). Today’s recruiting is about attracting the best talent by designing a working experience that meets their specific, unique needs in a way that resonates personally with the candidate. During the interviewing process, be authentic and demonstrate your commitment to employee belonging and growth. For example, communicate the following: 1) what you are doing to address diversity, equity, inclusion, and belonging, 2) how you handled your staff during the pandemic, and 3) what you offer for career growth and education. For additional insight on recruiting strategies, read our newsletter on Passive Recruiting.
CONCLUSION
In conclusion, each organization needs to devise a plan that captures attractive employee perks to deliver a positive outcome for the employer and employees. Once the best path forward is established, consider how it will be integrated into your communication strategy, internally and externally. Do not forget to include your mission, vision, and values!
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Tom Prest works with business leaders to strategically evaluate your best path forward. His work includes strategic direction, in-depth compensation & benefits analysis, organizational structure & planning, as well as performance management. If you have any questions or seek further clarification, please call us at 804.282.9566 or email Stephanie Ford at sford@warrenwhitney.com. We do not charge for the initial call. We want to learn more about your business needs.
MAKING POTENTIAL HAPPEN
Data Directions Inc.