With the economy continuing to grow and recover from the COVID-19 pandemic, hiring and retaining talent is becoming a full-time job. For small to mid-size companies with limited teams, this is no easy task. So, what is a company to do? Let’s explore the 6 essential strategies to recruit, align, and retain key talent.
6 Tips for Hiring and Retaining Talent
- Linking Your Vision to Mutual Success: What are your top priorities for the year and what actions and skills are going to be needed to get those done? Understanding and aligning the number of team members needed based on capacity and the special skills that will create the best outcomes are key to targeting the right people to help drive your business.
- Recruiting: Once you know the positions needed and the particular outcomes expected, you can drill down to the targeted experience level, skills, behaviors, and culture fit needed to bring in the right talent. This is a great time to do a compensation analysis to ensure the pay, bonus, and benefits being offered fit the market to get the talent level you expect in the door.
- Aligned Growth: Once you get the talent in the door, now you need to keep them! The best way to do this is to quickly acclimate them to the overall mission, vision, and core values of the business while integrating how their role fits into that. This should be a well-documented orientation program, with a clear outcome-driven job description and training plan, to ensure your new people get the help they need to be successful in their role.
- Integrated Success: Monthly feedback loops or check-ins ensure your team members are focused on what matters while also addressing and removing necessary obstacles. Employee engagement surveys for your current employees are also a great way to make sure you understand what is working or not working in your company so that you can improve business practices each year.
- Measured Goal-Attainment: Implementing a holistic and agile performance management system that integrates current priority goals, individual successes, and career development plans to grow targeted skills and behaviors for the future creates a two-way communication model that provides growth for both sides. This is also a great time to discuss long-term goals and career plans in the process for the high achievers. The current labor market wants to know about their career ladder and how they can strive to get there.
- Mutual Rewards: Aligning your reward programs to the key achievement goals of the business will ensure you are providing additional pay and perks in direct alignment to individual performance. Team members should be assessed and rewarded based on their contribution to the organization’s success vs. a standard skills report card. And, if you know what motivates them, you can ensure that you are rewarding and recognizing your employee talent in ways that meets their needs, enhancing connection and loyalty in the process.
HRC is Here to Help
With these steps, you and your talented team become partners in your integrated mission–with both sides growing and stretching in the process! At HR Collaboration Group, we are here to help you in all aspects of human resource management and employee engagement, including hiring and retaining. To learn more about how HR Collaboration Group can help your company, contact us today.