The best companies attract the best people. It’s a concept as irrefutable as the laws of gravity.
Even in industries where employers typically have their pick of top talent, becoming an employer of choice has become increasingly important; more and more companies have come to understand that attracting and retaining top talent can give them the edge they need in today’s competitive business landscape. Research shows that creating an environment that supports, motivates and inspires people is often just as important as compensation.
In the 2015 Employee Job Satisfaction and Engagement survey, the Society for Human Resources Management (SHRM) found that “respectful treatment of employees at all levels,” “trust between employees and senior management” and “benefits” all ranked as top factors leading to employee job satisfaction.
Hire for fit as well as skills
If a company wants to become an employer of choice, it has to start by hiring people who share similar values. Looking for people who have the right “fit” with company values is just as important as the skills candidates bring to the table.
Most people are hired because of their skills, but soft skills — the EQ to do the job — are critical.
Don’t just prune — grow talent
In the context of being an employer of choice, it’s important to understand that it’s not about ‘pruning’ your workforce or workplace to be something that job seekers want; but rather, ‘pruning’ to ensure your hiring process is set up to attract the right talent for your organization — based on culture, engagement and values.
But hiring the right people is just the start. Retaining top talent requires ongoing investment in their development. First and foremost, it’s about attracting the right talent to your organization. After that, it’s about investing, developing and training them to reach their full potential.
Walk the talk
Companies that want to become employers of choice must, above all, know themselves, understand their core values and apply them consistently in everything they do.
Employers should commit to a set of core values and be sure that all employees understand and live those values.