The success of any company is largely determined by the quality of talents embedded in the organisation. Organisations seeking success in a hyper-competitive and increasingly complex global economy must devise a strategy to attract and retain the best talents available in its operating landscape.
The recruitment and retention strategy must be top priority to thrive in an industry. Having a great vision and well-designed strategies will not be sufficient, without the right people in the right seats doing the right things; if care is not taken, a company can have the right people in the wrong seat, hence it is important to recognize talents.
The best companies and organizations worldwide ensure that they have the right people for the job even before coming up with strategies. In their list of priorities, the “who “comes before the “what”. The future is entirely unpredictable, which has been proven by several occurrences like the Covid 19 global pandemic, economic recession, soaring oil prices, costs of living standards, inflation etc.
As organisations are confronted with chaos, and uncertainty, the best strategy is to have a team of excellent talents that demonstrate proven achievements, be ready to take ownership of their roles and deliver the targets of the company. These people should easily adapt to any situation, and thrive, regardless of what comes next. However, most companies struggle to attract and retain top talent, because they are ill-equipped to deal with it.
The best way to attract and retain top talents is to create a culture and environment that appeals to them. An employer brand might be impeccable as people perceive the company and its values positively. Ultimately, the culture and environment that has been created, modified, and refined within the organisation will keep employees.
Attracting and retaining top talents is a critical aspect of building a successful organization. Here are some strategies that can be adopted to be a preferred employer:
- Build a Strong Employer Brand: Establish a positive employer brand that showcases company culture, values, and mission. Use social media platforms to communicate the brand message, showcase the work culture, and employee experiences.
- Competitive Compensation and Benefits: Offer competitive compensation and benefits packages that are aligned with industry standards or even more. This helps to attract top talents, retain them, and bridge remuneration gap that may exist.
- Professional Development Opportunities: The best way to retain top talents is to invest in coaching and training. Grow teams that will reach its potential and surpass targets. If some of the team members are not performing well, it is important to find out why and use corrective approaches to enhance teams’ performance. Furthermore, offer opportunities for employees to learn and grow professionally, provide training programs, mentorship opportunities, and career advancement opportunities.
- Positive Work Environment: when deliberate actions are taken to create a positive and inclusive work environment, this would foster a sense of belonging, and encourage collaboration, encourage employee feedback, and listen to their concerns.
- Recognize and Reward Performance: It is imperative to acknowledge, appreciate and reward employees who perform well. There should be implementation of an effective performance management system that includes regular feedback, and recognition. Promoting high performing employees to more senior positions, sends a positive message across the organisation, that their hard work is valued, and will be rewarded.
- Flexible Work Arrangements: Offer flexible work arrangements such as remote work, flexible schedules, and part-time work. This helps to attract and retain top talents who value work-life balance or life work balance.
- Employee Wellness Programs: Implement employee wellness programs that promote physical and mental health. This helps to improve employee productivity, engagement, and retention.
By implementing these strategies, a high performing organisation can attract and retain top talents, create a positive work environment, achieve excellent results and organic growth which will support overall organisational success.