High-performing, high-growth companies are not just on the hunt for skilled talent, they are trying to hire employees for the long haul. So what can companies do to retain the talent they’ve brought in?
Workers have more power, so figure out what they want.
In an age where workers have more power to make demands of their employer and their workspace, companies need to listen. Create spaces and opportunities to elicit employee feedback that gauges satisfaction and ideas for improvement. Then, use that information to make changes. Location Labs, who boasts a 95% employee retention rate and has never laid off an employee, has built in communication channels to keep management in tune with the needs of workers.
Improve onboarding processes to see higher retention rates.
According to Hired, companies that are winning the talent competition are focused on Equity and incorporating DEI into their hiring practices; Transparency around salary and benefits; and Efficiency in hiring with streamlined processes to improve response rates, lower time to hire, and more. Also, communicate your company’s strengths, weaknesses, and culture so that applicants can determine their fit before diving in.
Nurture purpose and growth.
As the world of work has evolved, employees have cultivated a new sense of purpose and worth in their work. This has caused many to search for job opportunities fulfilling that need for a sense of purpose and value creation.
Professional development that aligns with an employee’s vision for fulfilling purpose and professional growth is attractive to workers. The 2022 LinkedIn Global Talent Trends Report indicated that employees believe that professional development improves company culture. Additionally, companies with strong development opportunities have higher employee engagement and retention rates.
Read more about how to keep your knowledge workers in this edition of The Mid-Point.
Inside this issue
- Attracting & Retaining Talent, A Critical Business Risk
- 20 Ways to Promote Work-Life Balance at Your Company
- 7 Austin tech companies ranked top in US for traits that keep workers
- Focus points for thriving in a hybrid world
- Last Chance for our Remote Fintech Hiring Event!
Difficulties in finding and retaining talent have become both a challenge and a risk for companies across geographies and industries. This issue is further amplified as firms increasingly embrace new technologies and their growth strategies rely on new skills to enable the returns from these investments. Banks, for example, have invested substantially in technology – in areas including cloud, artificial intelligence, core operations, and cybersecurity – which increases their reliance on tech-savvy talent. Read More
Performance discussions at work don’t always have to be about job-related goals. During one culture-building platform’s triannual reviews, employees have the opportunity to share any personal goals they want to achieve, in addition to their on-the-job ambitions. Providing employees with an optional opportunity to talk about their personal goals is one way that that company promotes work-life balance for its staff. If employees aren’t achieving their goals — personal or professional — a manager can help strategize. Read More
Tech companies in Austin are winning top talent, according to a new ranking list by job search company Hired. The company based the ranking on three factors for attracting and retaining employees: equity, efficiency and transparency. These factors went into Hired’s data analysis from October 2020 to the end of October 2021 to gauge whether workplaces are interviewing underrepresented candidates, navigating them through the hiring process and being open about salary. Read More
More than two years after the start of a global pandemic, a sizeable portion of us are still working a hybrid schedule or remotely. It’s likely many employers will never go back to the office full time because there are too many benefits for employers (lower overhead costs) and employees (flexibility and greater work/life balance). But all of this not knowing what’s going to happen next has created instability in the workforce, as has the Great Resignation. So, what are the next steps in this new world hybrid world of ours?
Last Chance for our Remote Fintech Hiring Event!
Last chance! Join One America Works for our spring Fintech Remote Recruiting Event as it wraps up! We’ve assembled some of the best fintech companies to work for – all with amazing, fully remote roles. Once you fill out your application, all of these companies will have an opportunity to review your resume and set up 1-on-1 interviews.
The event is ongoing and running now through May 15. Learn more and register here.
