Home » Hire and hold – employee retention just as critical as talent attraction

Hire and hold – employee retention just as critical as talent attraction

by Media Xpose

By Dalya Ketz, Managing Director, Gcubed Boutique Recruitment

In skills-scarce environments, businesses put a lot of effort into attracting the right talent. So much focus goes into avoiding the wrong candidate that companies are quick to forget that once they’ve signed the skills they seek, it’s up to them to retain that talent and make it work.

Instead, fresh hires are thrown in the deep end with no onboarding procedures to get them into the swing of things. Starting a new job shouldn’t be a sink or swim situation and businesses need to focus more on employee integration, retention and company culture to hold on to their hires.

Times have changed, people have changed

Employee retention makes sense from a numbers perspective. The time, effort and cost of hiring and training new employees are enormous, and high staff turnover can have a negative impact on the money. With two years of living and working through a global crisis under their belt, individuals have had the time to do a lot of soul searching. Now that they have a clear idea of what they want, they’re unlikely to settle for less.

Jobseekers are currently looking for more than just a job, and the screening process has become just as much of an opportunity for them to interview the company they might like to work for, as it is for the company to assess candidate suitability.

Businesses can no longer expect to attract and retain talent purely based on the job spec, growth opportunity and salary. Instead, people want working environments that prioritise employee wellbeing and mental health at a company that provides a culture that aligns with the individual’s shared purpose. Companies that cannot meet these expectations will find themselves on the back foot and in situations like this, workers vote with their feet, taking the quickest exit.

Acknowledging tough truths

Today, the biggest challenge is finding a balance between IQ and EQ. It’s time for businesses to accept that ticking boxes from a competence perspective is no longer enough to ensure candidate suitability. It’s not enough that individuals can do the work, but essential that they can also fit into the workplace. Then, if the person has the potential, training can take care of the rest.

It’s also time for companies to acknowledge that ‘market-related’ should no longer be an acceptable description for remuneration in a vacancy listing. Instead, candidates require transparency in salary and honesty about the job requirements. Highly-skilled candidates want to be paid what they’re worth, and companies that insist on seeing payslips from previous employers ignore that the individual is most likely leaving their current job because they feel undervalued and underappreciated.

Alignment between profit, passion and people

People want to work for a company that makes a positive impact, not just a profit. The right recruitment partner can make all the difference in creating the right match between employer and potential candidate.

Here, the partner must cultivate a deep understanding of the company they represent to find precisely the right fit. Still, it’s essential to remember that recruitment can only go so far. Companies overlook and underestimate the next step far too often, yet onboarding a new employee is critical to making the right first impression.

Onboarding new hires is critical

It’s standard procedure for new hires to be thrown into the deep end without further thought after signing the employment contract. This must change. New hires must be properly immersed in their roles and the company culture.

A carefully crafted onboarding experience is essential for engaging employees positively and creating a connected workspace. A connected workspace is conducive to workers who are committed to the company’s success, which in turn helps retain these new hires by making them feel they belong.

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