Attracting Top Talent in 5 Easy Steps

If you’re reading this article, you probably realize how important a strong team of employees is. Attracting top talent and keeping them around is a top priority for any successful company. With the skills shortage, the market is only becoming more competitive. According to Korn Ferry, 68% of middle-market companies are having difficulty attracting top talent.

With skills in low supply and employee priorities shifting post-pandemic, it is important to have a strategic plan in place. Let’s discuss five best practices that you can enforce for attracting top talent and creating a competitive advantage. Nail these key areas and you’ll be seeing quality candidates at your door.

1.     Develop A Competitive Employer Brand

Candidates want to know why your company is a great place to work. Develop an employer brand that empathizes company values, culture, and mission, as this will determine the type of people you attract.

Think of your employer brand as a sales pitch. You’re marketing your company to prospective candidates. Sell yourself well and you’ll be attracting top talent that is eager to contribute to your mission. Ensure that what you promote is authentic – there’s no point in attracting top talent only to lose them when they realize your employer brand is a façade.

Focus on your image online, in your industry, and in the local community. Promote your brand on social media platforms and your website. Share moments like employee spotlights, projects, events, and career progression. Attend industry events where existing employees can share their experiences. You could also sponsor charities to raise brand awareness.

2.     Offer Competitive Compensation & Benefits

With the cost-of-living crisis and a stronger focus on well-being, competitive compensation and benefits are a must. A Gallup study found that compensation is now the number one priority for job seekers. Additionally, Lattice found that compensation is the main driver of employee turnover.

To know how much you should be paying your top talent, you need to conduct salary research. Be familiar with market rates, particularly what’s relevant to your industry and location. Consider utilizing software to help you make competitive and equitable decisions.

Benefits are just as important. You should be offering the basics, including health insurance and paid leave. Beyond that, consider what your employees actually want and need. Whether it be parental leave, gym memberships, or tuition reimbursements, attracting top talent means offering benefits aligned with the demographic and individuals you’re targeting.

3.     Invest in Employee Development

Development opportunities are almost as important to potential candidates as compensation. 87% of millennials expect employers to value their professional growth. Attracting top talent means investing in employee development. This can give you a competitive advantage.

There are plenty of ways you can support employee growth. Offer mentoring to employees who are navigating a new role or are interested in making internal advancements. Cross-train employees to expose them to new skills and familiarize them with different areas of the company. Provide training resources and reimbursement for courses to encourage continuous learning.

Remember that investing in employee growth can improve retention and satisfaction while also increasing workplace productivity and success. Make this a part of your employer branding so that candidates know you’re serious about helping them grow.

4.     Create a Positive Work Culture

No matter the situation, a positive environment makes for a better experience. Attracting top talent becomes easier when you have a supportive, engaging work culture. Any talented candidate will first research to see that your company’s values align with their own before applying.

Consider diversity, equity, and inclusivity in your organization. Are you fostering an inclusive environment with a variety of backgrounds and experiences? There should be equitable opportunities and active diversity efforts. Consider what you need to do to eliminate bias and discrimination.

Employees, particularly millennials, won’t stand for toxic working conditions. Mental well-being is too important. Opt for transparency and clear communication channels. Strive for work-life balance and flexibility. A poor work culture will increase turnover rates, which will make it difficult to recruit top talent.

5.     Leverage Talent Acquisition Technology

With the war for talent only intensifying, it may be time to leverage technology if you haven’t already. Talent acquisition tools and software, such as Applicant Tracking Systems (ATS), can help you source, screen, and hire top talent. It will streamline the process and even widen your talent pools.

An ATS platform will simplify and accelerate your hiring process. When you automate tasks like writing job descriptions, managing job postings, and screening resumes, you leave more time for strategically attracting top talent. This efficiency will also provide a better candidate experience. A poorly managed hiring process can easily discourage top talent.

Another benefit is the extensive network of candidates ATS tools can access. You can efficiently get job listings onto a variety of platforms. They can also give you access to a resume database that you can choose talent from. When it comes to attracting top talent, technology is your friend.

Win the War

If you want the upper hand when attracting top talent over your competition, it’s time to get strategic. Implementing these best practices will help you find the people who will make your company thrive. They will have the skills and innovation to remain flexible and adaptable in today’s rapidly shifting market. Invest in and prioritize your recruitment and retention strategies and you can come out on top.