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Recruiting and Retaining Top Talent…Even when you can't compete on salary.

Recruiting and Retaining Top Talent…Even when you can't compete on salary.

Tuesday 13 December 2022

Recruiting and Retaining Top Talent…Even when you can't compete on salary.

MEDIA RELEASE: The views expressed in this article are those of the author and not Bailiwick Express, and the text is reproduced exactly as supplied to us

The New Year period is creeping up on us fast and it’s often the busiest time of year where we see more movement in the world of recruitment and many companies competing for the best candidates. This is especially true at the moment, as there is still a shortage of candidates in the market - but what happens when companies can’t compete on salary? How can your business overcome this recruitment challenge?

In the current market many candidates are more salary focused than ever in their search for a new role, but what if your business just can’t compete with some of the larger employers when it comes down to money?  How do you attract and retain talent when increasing salary isn’t an option? 

At Select we meet with lots of job seekers, and hear about many different factors that influence their search.  A major pulling power for many candidates is the option of flexible, hybrid and remote working.  As we all know, this has grown hugely over the last few years, and the option to fit your work around your lifestyle and other commitments is now very attractive, and indeed, something that many people rely on.  With this in mind however, many employers say that although they offer this option, not all employees actually take it up – the attraction is having it as an option!

Another option is to upskill existing employees, which research shows is a common response to dealing with recruitment challenges.  You may already have the perfect person waiting on your existing team for the opportunity to train and develop into a more senior role!  Don’t overlook your existing employees - through offering support in training and development you are not only more likely to strengthen your existing workforce, but also to increase staff retention.

There’s also a lot to be said for building a strong reputation as an employer, which could perhaps be even more relevant in a small community like Jersey.  Do you offer additional incentives such as social events, wellbeing programmes and even little things like bacon rolls on Friday?!  If, through word of mouth, you build the reputation of being a great employer, then people will want to find out more!  You are also more likely to keep your staff if you offer them a happy and supportive work environment.  Employee satisfaction generally creates a happy and collaborative workplace.

We have also seen occasions recently where employers have had to broaden their search criteria to find staff for their roles.  This doesn’t necessarily mean lowering standards, but by being more open and not focussing on one area (for example academics) you will open up the potential candidate pool.  An individual’s employability is down to more than how well they did at school, and assessing each individual on a variety of merits including academics, but also experience, interview performance, references and even skills/personality testing, might well ensure that you have a really rounded approach to your recruitment. 

Finally, motivation can really drive a workforce, knowing what motivates your staff is more important than ever. Studies show poorly motivated workers show less commitment, experience less job satisfaction and contribute to increased employee turnover.  So what can you do to motivate your employees that costs nothing?  Make sure that you give praise / share positive feedback, be transparent and respectful, but also, instead of guessing how to motivate your team, why not actually sit down with them and find out what they value?  Or even send out a survey, asking what you are doing right and what you can improve on / doing wrong.  Show your employees that you care and that you want to hear their views - doing the unexpected might be the best thing you can do for your employees, and your company. Make sure you ask them to share their good experiences on LinkedIn and other social media platforms as this will boost your brand and company culture, making you more attractive to job seeker!

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