How to Hire Great Employees
As the most valuable asset to an organization, the employees are the heart and soul of the business. Just as the whole is no greater than the sum of its parts, the organization or business is nothing without its employees. Regardless of how insignificant one individual’s role or job title may seem, they play an integral role in making the entire organization work. That’s why an employer needs to hire the most qualified, and skilled individual for each position. If the organization is to thrive and grow, the best and most dynamic employees are required. The following information highlights a few practices designed to attract great employees.
Developmental Training for Great Employees
Great employees are always looking to grow and hone their craft. As an employer, one the most attractive offerings that can be made to potential great employees is developmental training. Although the company always runs the risk of the employee leaving the business before the company sees a return, developing the skills of great employees is a good practice and extremely attractive to top talent.
Finding Talent
Attracting great employees can often come down to a matter of finding the best talent. Using headhunters or simply browsing through LinkedIn can uncover a wealth of potential candidates. While some of the best candidates may be currently employed, it’s a great practice to plant seeds of interest. At the very least, seeds can be planted with potential candidates so they will know you are interested in their potential.
Create a Career Track
Great employees want to know their path for advancement. One of the most disheartening situations to any great employee is to feel as if their talent isn’t being developed. To attract the best employees, it’s important to communicate and discuss their possible career track within the company. Based on the individual’s interest and talents, this track should give the employee a clear idea of what is required and what they can expect.
Great Company Culture
Demonstrating a great corporate culture is one of the best ways to attract employees. When a job seeker visits the corporate website, they should leave feeling as if this the place they want to be. A great practice is to use social media to show employees having fun and demonstrating how great it is to work for the company.
Become Respected and Well Known in the Field
Often, the companies with the brightest and most energized employees are the ones that have been around or are among the most well known in their industry. These companies commonly have job seekers and potential employees beating down their door. The respected name of the organization provides employees with a sense of job security and longevity.
Benefits to Attract Great Employees
When job seekers begin to search for jobs or careers, the benefits are always under scrutiny. In addition to a competitive salary, employees want healthcare, a lucrative retirement package, and other fringe benefits. One commonality among CNN’s list of 100 Best Companies to Work For are various extras like health care centers, free child care, unlimited number of days for sick time, relatively large bonuses, and matching profits, among other benefits. Simply put, offering something extraordinary outside of the standard healthcare and 401K will truly attract extraordinary talent.
Retention
Potential candidates are also concerned with the number of employees that has have been with the company for a while. If several employees stay with the company until retirement, this communicates a great work environment and competitive salary. However, a high employee turnover rate could mean bad working conditions, which would equate to a company to avoid.
Rewards and Recognition
One of the most effective ways to attract great employees is by offering rewards and recognition. These high-impact, low-cost facets can truly attract the ambitious job seeker. A few examples of non-cash incentives are:
- Free tutoring for an employee’s child
- Giving a donation in an employee’s name
- Tickets to a sporting event, music concert, or cultural event.
Employee Stock Ownership Plans
Employee Stock Ownership Plans (ESOPs) are excellent incentives for attracting great employees. As a true win-win for both businesses and employees, the contributions to ESOP are tax deductible and so are the dividends that are paid to employees. This very attractive compensation offer isn’t as widely used today, but some of the top companies to work forÊlike Publix consistently offer ESOPs.
As a small business, you may not be able to offer ESOPs or the most competitive compensation, but finding the right mix of employee perks that you can offer is the key. A small business can create a favorable company culture that attracts and retains great employees, as well as career progression as your company grows. Keep all of these factors in mind and leverage them as your business grows and changes.
