Across industries, retaining employees is just as important as attracting fresh talent in the current job market. For businesses to successfully compete for the best new employees, trends need to be studied and strategies need to be utilized. The ability of a business to tailor its work environment, benefits and growth opportunities to individual preferences stands out as some of the best ways to stay on trend and attract and retain incoming talent.
Here, 18 members of Forbes Business Council share additional trends for talent attraction and retention businesses must be aware of to successfully compete for new employees.
1. Offering Comprehensive Benefits
In today’s market, provide comprehensive benefits for employees. Offering flexible work schedules, cultivating an engaging company culture, investing in continuous learning opportunities, implementing wellness programs and adopting innovative operating models are key strategies to attract and retain top talent. – Jon Osterburg, Jitasa
2. Investing In Learning And Development
Our research has shown that investment in learning and development remains a high priority for today’s workers. Many employees would utilize employer-sponsored online education, and a lack of growth was a key driver for those who resigned in 2021. Workers want to work for employers that are truly invested in their careers, and companies that do so will better attract and retain top talent. – Michael Hansen, Cengage Group
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3. Prioritizing Training And Tech Investments
Retail is one of the hardest industries to attract and retain talent. To stay ahead, brands need to prioritize employee training and invest in new, innovative technologies. Proper training will allow staff to accelerate their careers and take on more meaningful work, while new technologies can automate the most mundane tasks, giving employees a greater sense of value and purpose. – Stephan Schambach, NewStore
4. Eliminating Recruitment Barriers
Breaking down recruitment barriers and helping talent teams attract and retain best-fit talent requires a comprehensive, data-rich view of the talent funnel and integrated solutions and services that can optimize each stage. By combining advanced technology with human expertise, talent teams will not only know who their candidates are, but also engage with them in a meaningful way to drive ROI. – Kermit S Randa, Symphony Talent
5. Recognizing Employees As The Best Spokespeople
Organizations need to realize their employees are their greatest spokespeople and that establishing a stellar company culture is more important now than ever before. When employees feel connected and valued, the culture speaks for itself. By listening to, engaging with and recognizing our employees, we empower our team and our most valuable marketing base to attract and retain new talent. – Brian Fugere, symplr
6. Focusing On Upward Mobility
We focus on upward mobility within our company to compete with other organizations and attract and retain the best new employees. Attracting and retaining top talent by promoting opportunities for growth and development within the organization, coupled with investments in training, mentorship programs and clear employee progression paths demonstrates commitment to employee development, which can be appealing to potential candidates. – James Jones, Bump
7. Giving Opportunities To Take On Challenges
We give everyone the opportunity to take on massive challenges and work with a team that consistently earns number-one rankings. What prospective employee worth their salt would not want to be a part of that? – ‘Smitty’ Robert J. Smith, Robert J. Smith Productions
8. Being Driven By Data
Talent attraction and acquisition has, by definition, a very human element to it—but competing successfully in this area requires a very data-driven approach. Just as with leads for a product, it’s important for businesses to use data and analysis to understand how and where candidates enter the funnel and understand the candidates themselves. – Jason Foodman, Rosy Salon Software
9. Building Honest And Transparent Relationships
A Gallup survey found that only 22% of US workers trust their organization’s leadership. Start there by fostering honest and transparent conversations. Train employees to be experts and then distribute control. Promote clear and achievable objectives. Praise the praiseworthy, and protect them from destructive behaviors in the culture. If you are respectful, consistent and predictable, you will build relationships around their needs. – Robert M. Donaldson, Collaborative Strategies Consulting Inc.
10. Investing In The Development Of Young Talent
One key trend to attract and retain top talent is fostering a culture of learning and development. Employees, especially younger ones, seek opportunities for personal growth and skill enhancement. Investing in professional development programs shows you value their growth and see a long-term future with them, making your business a desirable place to work. – Chris Kille, Payment Pilot
11. Fostering A Fantastic Work Environment
The best approach to attract and retain the best talent right now is not merely about money. What people actually want is a fantastic working environment in an organization that invests in their development while also allowing them to enjoy a life outside of their professions. Great talent will not always take a 9-5 office job, as they may prefer flexibility and the ability to work while spending time with their loved ones. – Raquel Gomes, Stafi
12. Maintaining Leadership Depth And Quality
The depth and quality of leadership matters, with the result being shown in the attraction and retention of top talent. Great leadership attracts great talent while bad managers can impact turnover and become a hindrance to an organization’s growth. Remember to hold managers and team members accountable. – Paul L. Gunn, Jr., KUOG Corporation
13. Offering Flexible Work Arrangements
Put an emphasis on workplace flexibility. With increasing demand for remote or hybrid work options, companies that offer flexible work arrangements have a competitive advantage in attracting and retaining top talent. By providing flexibility in terms of location, hours and work-life balance, businesses can create a more appealing environment that caters to the needs and preferences of today’s workforce. – Johan Hajji, UpperKey
14. Tailoring Job Descriptions To Your Audience
To successfully compete for the best talent available, you need to address your potential candidates using language that fuels their drive. The first touchpoint for a candidate is the job description. It should be crafted to highlight their future success and appeal to their aspirations. As a professor once told me, you need to guide your audience by the hand. – Francisco Ramirez, The ACE Group (TAG)
15. Creating A Culture Where Everyone Feels Valued
It is all about culture! We want every member of our team to feel highly valued. We create an environment where everyone’s input is encouraged. We try to make inclusive decisions with our team by ensuring everyone has a voice within our organization. As a result, only one employee has left us in the last five years and this was due to grad school, which we are assisting with. – Dennis Morales, DRINK LABS
16. Emphasizing Organizational Social Responsibility
Organizations are emphasizing organizational culture and values to recruit and retain talent, particularly in connection to corporate social responsibility. Top candidates now want to work for companies that share their values and contribute positively to society, making this a critical aspect of a company’s competitive advantage. – Khurram Akhtar, Programmers Force
17. Focusing On Diversity, Equity And Inclusion
One important trend to watch out for is diversity, equality and inclusion. Some of the best talent in the world will feel more comfortable and more fulfilled working in an organization that has made deliberate efforts to mainstream diversity, equality, and inclusion in its organizational structure. They want to see that the organization reflects the community it works and operates in. – Erik Pham, Health Canal
18. Offering Balance And Flexibility
To compete for top talent, businesses must be aware of the growing importance of work-life balance and flexible work arrangements. This is something I see job seekers looking for every day when applying for jobs through my agency. Offering remote work options, flexible hours and employee well-being benefits will attract and retain the best employees in today’s job market. – Brittany Harrer Dolin, The Pocketbook Agency
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