6 Sure-Fire Ways to Attract & Keep Top Talent
With so many Millennials entering the workforce, and the change in how long the average employee stays with a company, you are going to want to attract top talent to your business. Additionally, you want them to hang around as long as possible to preserve your investment in bringing them aboard. Here are six ways you can make sure you beat out the competition and attract the best candidates:
1. Good Pay
I’m not just talking about fair pay here. I am talking about good pay. According to the Naples Daily News, the current living wage in the Naples and Marco Island areas is a hefty $45,073 for a family of two adults and one child. Additionally, most millennials have significant student debt to pay off, so their monetary needs will be even more. Consider all of these aspects when deciding on starting salaries for your open positions. You don’t want your employees leaving left and right because you don’t offer them enough compensation to meet their expenses.
2. Benefits & Paid Vacation
This is an increasingly important part of the offer package. Health insurance costs are skyrocketing, so having the option of getting a discounted plan through the employer is very important to all candidates- not just those entering the workforce.
Paid vacation is a must in today’s world. Millennials are ready and willing to work hard for you, but they are also looking to achieve greater work-life balance than generations past. You should already be striving to improve your company culture with more paid vacation for all employees, to increase their happiness and engagement, but offering extra paid time off to millennials will get you on their good side.
3. Titles & Responsibility
Most employees who are looking to climb the corporate ladder do so do a better title and more pay. Millennials want these trophies as well, but they also want the great responsibilities that come with it. Gen Y is eager to prove the stereotypes incorrect, and want to show their employers and peers that they can handle the pressure. They want to have an influence on the direction of the company and feel that their job is important. Don’t just tell them what they will be doing for your business, tell them why it is important.
Flexibility goes hand-in-hand with the achievement of work-life balance. Don’t be afraid to let your employees have a couple of home office days per week, and set their own schedules. Allowing them to pick up their kids from school, go to that dentist appointment on Tuesday instead of Saturday, and take that long weekend to visit friends in the city will only motivate them to be more productive when they are working. They will strive to accomplish everything efficiently, and with quality, because they are being given the freedom of flexibility from the company.
This may sound like a no-brainer, but consider how often you do more that just give someone a pat on the back for doing a great job. Millennials have been taught that good behavior and achievements get rewarded, and you need to adopt this practice in your company. Handing out bonuses for exceptional work is always appreciated, but the reward doesn’t always have to be monetary. Take the employee to lunch, and discuss their work with them, or give them a few extra days off for their kid’s school trip to Virginia. These types of simple actions will feel wonderful to your employees, and keep them engaged.
6. Growth Opportunities
This is especially important to Millennials, who are very educated already but are constantly hungry to learn. Offer them leadership training, company-paid certifications, and paid trips to industry conferences. They want to grow and learn and develop into leaders for your company, so help them do so. The greater investment they make in their career with you, the longer they will want to stay aboard and “pay you back” for the opportunities your business has given them to grow.
In the end, if you are unsure about what a candidate wants or expects from their employer, don’t be afraid to ask! The individual will gladly share his or her wants and needs with you, to make sure you are both on the same page before embarking on a new journey together. Treat your talent the way you would want to be treated, and they will stay with your company for a good, long time.
Abby Yetter is the CEO and Chief Consultant of Bright Ideas Small Business Solutions, LLC. She is a driven, enthusiastic businesswoman, with a talent for organizing the chaotic, and branding the unfamed. Abby strives to use her creativity, and experience, to solve the many problems of small businesses. With a background based in customer service management, social media, technological organization, sales, marketing, and customer experience specialties, she enjoys taking everyday complications, and finding the newest, most productive ways to execute the tasks.All stories by: Abby Yetter