Attracting and Retaining Top Talent

A business is nothing without its employees, making attracting and retaining talent one of the top priorities for any company. This has only been heightened by the Covid-19 pandemic; whilst layoffs in the first part of 2020 meant employees were eager to retain their position, the tide is slowly turning. More and more workers are looking for roles that offer flexibility, benefits, and a healthy salary package, putting employers on the back foot.

Standing out from your competitors may seem like a difficult task, but it’s essential if you are to attract and keep the best in the business. If you’ve noticed an increase in the number of resignations or are advertising job opportunities with few responses, it could be worth speaking to headhunters in Melbourne to find out where you are going wrong. 

It doesn’t matter how good a job is; unless it’s advertised in the right manner, you’re going to struggle to attract candidates. Understanding what workers are currently looking for will help you highlight the advantages and benefits of joining your team.

Work-life balance: Gone are the days of sitting in the office from 9–5 (plus commute), 5 days a week. Today, most employees expect some degree of flexibility. This can mean starting earlier or finishing later, working from home on certain days of the week, or operating completely remotely. 

Attractive salary: Pay transparency has always been a hot topic of discussion. A few years ago, it was revealed that executive employees at Netflix can access the current salary and pay history of any of their fellow workers, a practice that is designed to help employees determine if they’re being paid an appropriate wage. While this approach won’t work at all companies, being upfront and honest about pay (as well as offering an attractive and competitive salary) is always a good move.

Benefits: If the position has limited flexibility or a standard salary package, consider what other benefits you might be able to offer executive employees. A generous leave allowance, free gym membership, and great on-site facilities can all help attract potential candidates.

Once you’ve got your dream candidate through the door, the challenge is only just beginning. Businesses that value their employees will work hard to ensure they are satisfied and appropriately challenged in their role. This can be achieved by:

Professional development: Sponsoring professional development opportunities is a win-win situation. Not only will your employees appreciate the opportunity to further develop their skills, you will benefit directly from their expanded knowledge and abilities.

Compensation: The easiest way to demonstrate how much you value your senior and C-suite employees is by ensuring they are appropriately compensated. Annual pay rises are recommended as well as regular bonuses. 

Feedback: All employees can benefit from regular feedback — even senior and C-suite team members. Whether it’s from board members or their peers, communicating with workers about their performance, strengths, and areas for improvement can be a motivating factor.  

If you feel like you’re struggling to attract or retain your valued employees, it could be a good idea to speak with professional headhunters in Melbourne. Headhunters can help with the hiring process, the onboarding of senior employees and provide feedback on how your working conditions compare to your competitors. With this kind of support, your employees will be around for many years to come.

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