If your company is like most, the holy grail of attracting, engaging and retaining top talent may still be eluding you. In my experience of working with small and growing businesses, I have noticed a few common themes.
No Curb Appeal Top talent isn't knocking at your door. In fact, you have a tough time getting good candidates to apply to your job openings. Even though you may offer a great work environment where employees are recognized for their achievements, provided opportunities for growth and advancement, understand how their contribution impacts organizational success, compensation is fair, and benefits are generous— job seekers are completely unaware of it.
The Bait and Switch Your company does a fantastic job at attracting top talent with its cutting edge products, stylishly hipster office, or charismatic leadership that is gifted at painting the consummate picture of the applicant’s future at your company. However, over time these great employees seem to fall short of your expectations, becoming somewhat disenchanted and eventually departing for the proverbial greener pastures.
Missing the Mark Your company has gotten by for years with generally the same approach to pay, benefits, and time off. Your long-term employees seem content, but when hiring new employees, you don’t seem to be getting the cream of the talent crop. In fact, many top applicants and departing employees seem to prefer to work elsewhere.
What can be done to turn the talent ship around?
Define your company’s Employee Value Proposition (EVP). As you move through this process, your company will gain clarity around what it expects from its employees and what it is willing to give in return. The EVP can then be used as a basis for assessing key areas that impact your company’s ability to attract and retain top talent and maximize employee productivity and engagement—including compensation and benefits, company mission, vision and values, company culture, and opportunities for employees to advance and grow. Most importantly, your EVP is not a marketing exercise; rather it defines the manner in which your business philosophy and practices intersect with the employee experience creating a common thread throughout the employee life cycle.
Resources for developing an Employee Value Proposition