Attracting top talent is about more than just ‘filling a seat’. There will always be mediocre-to-average people on the market. We know you’re looking for more than that. You’re looking for people who bring more than just the bare minimum. People who outperform in their work, exceed your expectations, and drive their part of the business to ever-higher levels of performance.
So, what does it really take to source, attract, and hire the best? We believe the answer lies in three key areas: a compelling employer brand, a competitive salary, and attractive non-monetary benefits.
Employer Brand
The concept of branding has been around for a long while, but the idea of an employer brand is newer. A traditional brand is a marketing message: Why would someone want to buy from us? An employer brand turns the question to a different audience: Why would someone want to work here?
Authenticity is really important here. It’s surprisingly easy to fall into the trap of promoting a brand that you believe candidates want. If a company projects a brand that doesn’t reflect reality, they’ll attract people who aren’t a great fit … which will end up frustrating the employer and employee alike. Good employer branding means first understanding, then articulating, the real thing. Every company is different, with a unique value proposition. That value proposition will attract people who really belong there.
How to uncover your true value proposition? Nobody knows better than your current happy employees why someone would want to work with you, the best aspects of their job and what they really appreciate about the company. Surveys can be used for this, but one on one conversations, with lots of open-ended questions, are better. Be transparent about your intent; asking your employees these questions shows that you value them and want to attract the best possible teammates for them.
Competitive Salary
Just about every conversation about attracting top talent starts here. Too many of them end here, too. Money isn’t everything, but it’s clearly an important aspect of talent attraction. It’s just important to keep in mind the role it plays. You probably won’t secure more or better candidates with a highly competitive salary alone, but without it, you could lose them. In other words, top talent won’t usually make a career move for more money alone, but an uncompetitive salary is almost always a deal breaker.
Fortunately, there are great resources widely available to help you ensure your salaries are in line with market expectations. There are any number of compensation survey reports, of course, some free and some paid. This is also an area where recruitment partners like Varius Solutions are pleased to support our clients: the work we do provides us with a real-time view of the market, and we share those insights with our clients to help them stay competitive.
Perks
For the majority of the candidates you want to reach, it’s really not all about the money. There are many ‘perks’ – beyond salary and bonuses – that are highly effective in attracting the people you need. Some have a monetary cost associated with them, but some don’t cost a dime.
Some people are most motivated by their work. These employees are attracted by interesting and innovative projects, ones that test the limits of their skills and also serve as ‘feathers in the cap’ – being included in them becomes a point of pride. Some people are more attracted by offerings that give them a different work-life balance. Benefits like flexible working hours, or remote or hybrid work, are perks that make your company highly attractive to them. Other people are attracted by growth: paid time off for training and development, some education funding, and opportunities for promotion and advancement appeal to them. Some people are drawn most to companies that pride themselves on social impact, ones that offer time off for volunteering – individually or as a team building activity – or matched charitable donations.
The possibilities are endless; experimenting with different programs that align with your company’s culture and mission is the best way to learn what your employees – and prospective employees – value most. Different employees are motivated by different things, so if you have the ability to be flexible in the things you offer, do it.
You’re in the market for the best and brightest. These areas are the three keys to attracting their attention. Understand and communicate your authentic employer brand, ensure your compensation structure is competitive, and explore the other benefits you can offer, and you’ll attract the people you need and want.
For more information on attracting top talent contact us at info@variusbusinesssolutions.com
