A third of workers under 40 at least considered changing jobs during the course of the pandemic. What’s more, plenty of them went ahead with it. Such a huge shift in the makeup of the labor market can only have massive effects on recruiting strategies, company cultures, and talent retention.
So what’s a business to do in the era of ‘the great resignation’? With workers more mobile than ever, what’s the key to attracting talent and retaining it? Competitive salaries? Flexible hours? More ping-pong tables in the break room?
Well, worry not. We’re here to answer those questions and more, and keep you up to date on retaining talent in the post-COVID economy.
The Culture Club
A simple answer to the problem of retaining talent and attracting it is to hike salaries or start offering all kinds of perks. Now, that’s not a bad idea, of course (competitive salaries are always a must when it comes to attracting the best employees), but it doesn’t get to the heart of the matter.
The reason so many employees are leaving their jobs is that they work in places that neither fulfill nor challenge them. ‘It pays the bills’ will only keep you in a workplace until a better offer comes along, after all.
The solution? Building a sense of community and making employees feel that they are being invested in and developed as people.
By encouraging employees to build bonds with one another and with your business, you create a battle-tested team of fighters that are as invested in the company’s future as you are. Likewise, by investing in long-term skills development, your workers won’t end up feeling like they’ve stagnated all those years they sat at your desk.
Even better, the company culture that adeptly retains talent will do an equally good job of attracting talent.
Attracting Talent? First, Know Thyself
The great thing about running a business is all the handy data you have access to. If your employees are switching away from your company, you have all sorts of exit interviews and team stats to delve into to pin down the reason why.
So make sure you scour your archives to make sure you know what the pain points are before you figure out a plan to deal with them. If you aren’t sure you can, you can always work with a recruitment agency to craft a bespoke plan for attracting talent that ticks all the boxes.
Don’t Resign Yourself To It
There’s no avoiding the fact that we’re in the middle of a massive restructuring of the global economy and labor market. But that doesn’t mean you have to abandon all hope of attracting talent. By working proactively and empathetically with your employees and listening to their concerns, you can build a tight-knit team of experts that will last years.
And you know what they say, teamwork makes the dream work.
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