attracting and retaining the right talent: a checklist

According to 2018 India Skills Report, hiring is expected to witness a growth of 10-15% this year. This has created mounting pressure on HR to be more strategic and move beyond traditional hiring practices to fill the ranks with the right mix of talent comprising out-of-the-box thinkers as well as consensus-driven candidates. But in this talent-starved market,hiring the right talent can be tough. Building the right strategies to keep talent from jumping ship can also be equally challenging. So how can companies draw the best employees while ensuring employee development along the way?

Presenting employees with new, exciting tasks and challenges to solve is a great way to foster enthusiasm while boosting productivity and efficiency. It is also important to communicate the big picture about the organization and how each employee can make a difference in the whole scheme of things. Organizations also need to develop a deep sense of empathy - showing employees that they care about their personal and professional needs. This, in turn, paves the way for developing a team of long-term employees who can play an integral part in decision-making. 

Here’s an essential checklist to attract and retain the right talent every time.  

#1 Be clear about employee traits: There is no one universal standard for an ideal employee. One company may want to hire an employee who is strategy oriented while another might prefer a tough employee who can deal with heightened stress levels. Before setting out to hire people, it is essential to identify the relevant traits and competencies of employees to better match them to their job requirements.  It is also crucial to look for upbeat, confident, honest and detail oriented employees who can create a work environment that is unique and spawn new ideas for ongoing innovation

# 2 Build an engaging hiring process:  Given the brutal competition from top organizations, becoming a talent magnet is not easy.  An engaging hiring process that is fast and easy to navigate, providing candidates with an opportunity to showcase their talent, can prove to be a significant differentiator. Take a cue from technology company Directi whose hiring process includes task development and unconventional questions such as “How many diapers are sold in Mumbai everyday? The company tops up its hiring process by giving a complimentary Kindle to  new hires.  

# 3 Chart a clear career path for new hires: Leading companies such as IBM, Facebook and L’Oreal offer six months to two years of online learning and on-boarding processes to ensure new hires are satisfied with their work in the first year. Such initiatives offer a clear vision to employees on their role at the company and  how much the company cares about their career development. Once an employee completes his or her first year at the office, it is critical to transition the employee to new roles in the company and put them on other exciting projects. The end result: happy employees with increased chances of retention. 

#4 Meet the aspirations of high flyers: The parent company of Paytm-One97Communications offers stock plans to its top performers. A key takeaway: rewarding high performing employees builds a loyalty-inducing culture where top performers are appropriately challenged to innovate and grow. It is also important to create a route of rapid growth for deserving employees, ensuring that they deliver great products and outcomes for the organization. 

When companies have a highly talented workforce, the last thing they want from them is to be eyeing the door. Losing talent to the competition not only results in increased fulfillment time but also negatively impacts customer experience. Constantly benchmarking your salary competitiveness, promotion policies and employee engagement strategies is a good way to keep people invested in the organization. Keeping employees productive and happy both over the short and long term is key to attracting true talent, helping them deliver on their potential.

Source:https://www.bloombergquint.com/business/2018/02/11/jobs-market-looks-promising-in-2018
https://www.cnbc.com/2018/03/21/linkedin-top-companies-to-work-for-in-india-2018.html
https://business.linkedin.com/talent-solutions/blog/2015/07/extreme-onboarding-how-to-wow-your-new-hires-rather-than-numb-them
https://www.cnbc.com/2018/03/21/linkedin-top-companies-to-work-for-in-india-2018.html

< return to previous page