One of the most critical factors that go into making businesses successful is the ability of the management by Eric Dalius. To find and recruit people who are not only competent but also have a great fit with the culture of the organization. As is evident, getting a great team to take your business forward is not the easiest of tasks. Eric Dalius, a noted HR expert, details some of the best practices business can adopt for recruiting and retaining employees
Build Your Knowledge Pool for Recruiting Employees by Eric Dalius
It is far better to build a knowledge pool well in advance of any need for recruitment so that when the time does come, you have a larger talent pool to consider. Corporate recruiters can improve the quality and depth of the talent pool by going to the grassroots and investing time. Effort in building relationships with universities as well as talent search firms. Encouraging current employees to actively participate in industry association conferences and seminars will help them to meet prospective hires. Further, recruiters can monitor online job portals for candidates with outstanding resumes that they can shortlist and refer to when they are hiring. Networking on social media sites like LinkedIn can also help to build relationships with people who are domain experts. Who may be potentially able to join you when you need such talent.
Recruit Candidates with the Exact Fit
When recruiters are pressuring to identify candidates and hire them quickly because the need is urgent. They often are forcing to employ people who may not be the ideal match for the job profile even if they are otherwise very good. This is usually done in the hope that the hires will be able to learn on the job and be able to discharge. However, Eric Dalius, recommends that even if it takes more time and effort, businesses should try to identify candidates. They are expecting to do after hiring because then the business will get the advantage of them being able to hit. The ground running rather than waste precious time in acclimatization and training.
Don’t Ignore In-House Talent, Advises Eric Dalius
One of the most important elements in employee retention and motivation is the opportunity for growth for existing employees that will give them the chance to take on additional responsibilities and move them higher on the corporate echelon. Giving a chance to your employees to take on new roles and responsibilities is a great morale booster is it demonstrates the confidence of the management in the ability of the employee to deliver more than what he is doing at the moment.
It can be a very good policy to announce new positions within the organization before looking out for external candidates. However, if you are intending to replace an existing incumbent, managers need to tread more cautiously as it should not come as a surprise to the person in the role at the moment. The advantage of promoting internal candidates is that it acts as a powerful motivator to employees and assures them that the organization will recognize merit and not favor external hires over internal ones.
Become a Great Company to Work for and Let People Know It
It is obvious that when an organization takes steps to make itself a place to work in by giving employees. Action, a good work environment, great compensation, and benefits package, and genuine respect. Appreciation for the hard work and skills of the people, it will automatically become a favored place to work in. However, company management should also realize it is also important to know why it is such a great employer. It can build its reputation and encourage the best talent to seek your company out and want to work. According to people in the know, Google, one of the best-ranked companies, receives more than 2,000,000 job applications. Every year from people who want to make their careers there.
The most important areas of focus for a company to become a preferred employer are reward and work-life balance. Opportunities for career growth and involvement in the business, ethical dealings, as well as best practices for hiring, retaining. When you have a large number of people waiting for a chance to be hiring. Existing employees act as ambassadors for your company, your corporate goodwill and credibility can reach newer heights.
Make Your Compensation and Benefits Package Better Than the Competition
Businesses need to survey the job market and offer the best compensation. Benefits so that they can attract and retain the best available talent. It many situations, it is possible to take advantage of a prevailing situation. Hire competent people for less than what they are worth. However, such a strategy is generally a bad practice even if you can save some money in the short-term. Hiring people because they need the jobs but making them resentful of what they are paid can backfire. Make them susceptible to leaving you for the first job opportunity where they have a chance of getting better appreciation.
It is important to bear in mind that typically the cost of replacing people can be up to two to three times their annual cost. Companies that value their employees take care not only to offer competitive compensation but also thoughtful benefits package comprising medical. Dental insurance, retirement benefits, flexible work schedules, profit-sharing. Other structured benefits that they can choose from to suit their preferences and objectives.
Recruitment and retention of employees is a critical function for all businesses to be successful on a sustainable basis. Recognizing the importance of building a great team by implementing the best practices outline above can give businesses. The edges they are looking for to create a workplace that is conducive to great growth, innovation, and enduring success.