5 ways to boost talent attraction and retention
Experts had hoped the 'Great Resignation' was a temporary, pandemic-driven phenomenon, but it hasn't gone away.
Across the United States, both large and small businesses and organizations are struggling to attract and retain quality employees. Of course, some of those people are primarily interested in a higher salary. But employees also say they want to work for a purpose-driven organization.
According to Gallup’s State of the Global Workplace: 2021 Report, there was only a 20%-34% employee engagement rate in the U.S. and Canada in 2021. Gallup also found it would take more than a 20% increase in pay to lure most employees away from a manager who engages them, while it was very easy to convince disengaged workers to switch jobs.
The obvious solution, then, is to engage your workers. But what are the best ways to do that/?
The following are five ideas for boosting your application pool and making it worth your current employees’ while to stay put.
No. 1: Clearly state your values and purpose. Every organization has a reason for existing — and it’s not just to make money. If you are in the insurance business, your customers’ welfare is important to you. You understand calamities can happen, and you want to help them prevent, prepare for and, if necessary, react to adverse situations.
Your employees should all have a clear idea of how much customers mean to your organization. In fact, you can help them feel like they are an essential part of what you do by involving them in efforts to make a difference. At Church Mutual®, for example, our employees are working side-by-side with their customers and rolling up sleeves to help houses of worship, schools and other nonprofits prevent and recover from devastating hurricanes, wildfires and violent events. They see firsthand how we help serve and protect customers whose missions are vital to their communities.
Not only do the people who work for you want to feel like your organization is making a difference, they also want a say in how that happens. Show your employees you care by creating committees that will concentrate on reinforcing the good work you do. Rather than just focusing on sales goals, help your employees feel like they, as individuals, can make a big difference in their customers’ lives. When they feel invested, your organization will feel more like a family than an employer.
Provide opportunities and experiences for employees to move the business forward and to also give back to the community in meaningful ways through their work and the company’s charitable foundation.
No. 2: Deliver career paths, especially to Gen Z talent. Some employers have difficulty recruiting simply because they expect their applicants to have unrealistic achievements on their resumes. Rather than insisting that your employees have a certain amount of experience on a specific topic, focus on making it easier for them to achieve those skills.
That starts at the college level. Church Mutual has created partnerships with several Historically Black Colleges and Universities and professional organizations. We recognize that having a diverse workforce creates value for our company. We created innovative partnership and internship opportunities for students that include scholarships and a clear career path.
Once new employees join your organization, provide them with continuing education so they can grow their knowledge and skills. Make promoting from within your company a priority so employees have goals for which they can strive. Offer coaching opportunities so they can build a clear understanding of their specific strengths and support mentorship programs to build relationships.
No. 3: Showcase the unique impact of benefits and culture. Your employees spend a large percentage of their waking time working for you, and they crave a community. You can create that sense of belonging for them, so they feel like they are surrounded by trusted friends and neighbors instead of co-workers. Cultivate a workplace culture that encourages people to want to work for you. The specific types of perks you offer depend on your environment and the type of people you want to attract. Perhaps you want to allow casual attire in the office on a certain day of the week, or you decide to organize employee social events. Be sure to involve your current employees in planning what your company can do to create a community.
Potential employees also consider it a plus when you offer unique benefits. Highlight these benefits: For example, make sure they know if they can donate paid time off to another employee, or if you have an employee assistance program that can help them during difficult times. Other benefits such as paid bereavement time for loss of a pet also can set you apart.
No. 4: Offer flexibility. The COVID-19 pandemic turned working from home into a regular occurrence, and prospective employees now often expect that to be an option. A hybrid schedule could be what sets you apart from other companies. Many people also prefer a job that gives them flexibility with their schedule. Demonstrating you understand and value work-life balance is crucial to attracting and retaining talent in this job market.
No. 5: Recognize your employees. It’s difficult to engage your employees if they never receive any positive feedback from you. Rather than relying on individual managers to offer that feedback, make it a part of your culture to regularly recognize employees for their work. For example, have ways to share public kudos on internal corporate channels or opportunities to earn swag or gift certificates for above-average work. This can go a long way to ensure connection through recognition.
Employees have many choices these days when they’re deciding where they want to work. You can make changes to your organization that will put you at the top of their list.
Pam Stampen is the chief people officer at Church Mutual Insurance Company, S.I. (a stock insurer). To reach this contributor, send an email to corporatecommunications@churchmutual.com.
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