How to attract and retain talent
Competition for talent has never been more fierce as businesses seek out skilled staff in a tight labour market. We explain how you can get ahead of the pack.
As more businesses adapt to working remotely and offer flexible working arrangements, the available workforce has expanded.
This means businesses can tap into a global network of talent, but it also poses higher competition in attracting the right talent in line with business objectives.
According to the Australian Bureau of Statistics, in June 2022, almost a third of employing businesses were experiencing increased difficulty in attracting talent in the current global digital economy.
However, there are some strategies that you can incorporate into your recruitment and selection process to ensure you remain competitive and attract the right talent.
Employee Value Proposition (EVP)
Employees’ expectations of businesses have changed significantly. Not only do they want to feel invested in the work that they do, but they also want to see if the values and culture of the company fit in with their personal values and beliefs.
Employees have high expectations of businesses to have a broader purpose beyond profitability and more towards meeting their corporate social responsibilities (CSR). This includes initiatives that target CSR such as environmental, ethical, and philanthropic responsibilities.
Offer enhanced flexibility
According to Health Direct Australia, one in 10 Australian employees work more than 50 hours per week, which is deemed as ‘very long hours’.
This can impact employees’ health and increase stress — further leading to burnout and overall lower employee productivity. Employers will benefit from attracting and retaining top talent if they adapt attractive flexible working arrangements to achieve and maintain as much work-life balance as possible. This includes but is not limited to the below:
- working from home or another location
- job sharing
- flexible rostering
- flexible start and finish times
- compressed working week (working more hours over fewer days)
There are also legal obligations for employers to consider with regards to flexible working requests from eligible employees.
Seek out diverse candidates
Diversity in the workplace provides a greater range of talent and skills. Having a diverse workforce provides multiple benefits to an organisation — it can increase creativity, innovation, productivity, and engagement.
When recruiting, you should focus on objective, pre-determined selection criteria such as an individual’s skills, abilities, and competencies. Discrimination in the recruitment process based on unlawful grounds (such as gender, age, ethnicity) could lead to a General Protection or discrimination claim.
To help with your recruitment needs CCIWA Member UseVerb is a quick and easy recruitment platform. A 27-second video — cover letter (Video Verb) delivered to you — allows you to shortlist and communicate with your applicants fast.
Once you have engaged your new staff member you can communicate using Workchat, which simplifies work communication. For CCIWA Members, join before December 30, 2022, and mention this article for a free 12-month premium UseVerb membership valued at $US999.
4. Provide opportunities for growth
Career progression and professional development are essential in attracting and retaining top talent. Sharing real life stories and providing information about career paths can demonstrate the opportunity for growth to potential applicants as well as new employees.
You can invest in training and development and upskilling in order to keep employees challenged and motivated. Your staff are more likely to be satisfied knowing that you’re investing in their career growth and development.
Businesses should cultivate a strong company culture that has a well-defined and structured mission and vision that aligns with a company’s goals and objectives.
A solid and visible company culture can affect employee retention and assist with attracting the right candidates. It’s important to foster a working culture where employees can use their full potential, feel valued and recognised for their efforts.