hiring and retaining top talent

Hiring talented individuals makes all the difference to a company’s success and efficiency. If you compare the productivity of average and talented employees, you see a remarkable difference. Steve Jobs of Apple explained this well-known business strategy, “Go after the cream of the cream. A small team of A+ players can run circles around a giant team of B and C players.” But what are the best strategies for hiring and retaining top talent?

One key is to look closely at your “Employee value proposition,” or EVP, which is what employees get for what they give. What an employee “gives” can be so many things: time, skills, experience, new ideas, energy, effort, or efficiency. What an employee “gets” also varies. The value of different benefits should align with the role and the needs of the individual who’s in it.

hiring process

Compensation

Not surprisingly, compensation is an important mechanism for acquiring and retaining top talent. Signing bonuses, pay packages, deferred compensation, shift differentials, and special premiums for crucial skills all add together to make a position attractive. But they can be problematic in their ability to be matched by a competitor. That’s why employers must dig further to consider what other aspects of the job will keep a potential employee engaged. 

What Employees Want

Wages, bonuses, insurance packages, perks, pensions, company stock options, and other forms of recognition are certainly important. But there are some other key factors that will influence an employee’s experience at work. For instance, is the individual new in the career and seeking development opportunities from experienced leaders? One of the most powerful drivers can be career growth and advancement. 

Another strong benefit can be a sustainable work-life balance. For example, maybe the hours provide flexibility or there’s a chance to do some work from home. Perhaps it’s the substance of the work itself that drives the employee, and the role is rooted within their values or motivation to contribute. 

Job Design

When companies understand that different individuals will prioritize some benefits over others, they can tailor EVPs to fit a talented job seeker’s priorities. For example, when the United Parcel Service was quickly losing hard-to-train drivers, they responded by identifying a common concern and removing that task from the position. That task was easy to train for and in turn, easier to fill with part-time, albeit high turnover, employees. Meanwhile, they were able to attract and retain high performers in longer-term roles.

In Real Life

A critical aspect that can be easily missed is follow-through. A human resources department may research what an employee is looking for. But retaining top talent after the new-hire honeymoon means that the real life employment environment has to live up to the expectations.  

retaining top talent

Talent Knows Talent

Today, job seekers will do their own company research, reading reviews of working conditions on social media and sites such as Glassdoor or Job Advisor. A company’s EVP can’t just be a hiring proposition; it has to be reality. That smart job seeker you want working for you is smart enough to see if a company’s “work life” lives up to their job requirements. 

A Culture of Performance 

When a new-hire receives the support they need and becomes embedded in a strong company culture, they are much more likely to stick around. Motivated employees not only care about their own contribution, but they also demonstrate loyalty to teammates. When a culture is really working, people within the company want to do well for each other. 

Finding the Right People

This might all sound inspiring, but it can’t happen without the right team members in place. And let’s face it, hiring can be tricky business. It’s not hard to see the correlation between acquiring skilled, dedicated professionals and achieving a business’ goals. But how do you get there?

Hiring a staffing agency that’s up-to-date with the pulse of the job market is often the game changer for successful companies. An agency with a proven track record of quality candidate placements, like Masiello, can empower an organization to draw on the best talent. We also provide an edge when it comes to retaining skilled people for longer when that’s the goal. This not only saves companies money and time, it builds a stronger future. 

Masiello Employment Services has been helping companies develop strategic staffing plans and hire the best talent for over 35 years. We’ve made thousands of highly successful employment matches. Our staffing managers have the connections to find the right talent for your business’ needs and can help you highlight benefits to encourage their retention. Let’s build your company better starting today!