The full employment economy creates a situation where both hiring new talent and retaining your top employees is difficult. We see this in the fact that although fewer tech professionals feel the pressure to actively search for new jobs, we’re also at the highest quit rates since April 2001. That begs the question: why are some companies able to hire and retain their best talent while others still struggle? The crux of the problem isn’t overly complex; in fact, the answer boils down to experience. Employee retention and successful hiring both depend on the provision of a positive experience throughout the lifecycle of the candidate and employee relationship.
Overcoming the Biggest Stumbling Block
In the current market, one idea appears to regularly sabotage hiring and retention strategies – that candidates are the only ones with something to prove. In most cases, this comes from inattention rather than outright neglect of what candidates want. Companies get so caught up in measuring the capabilities and performance of employees and candidates that they forget to gauge how they themselves are being measured. In the midst of an IT talent shortage, this oversight cannot go overlooked.
There’s a simple rule of thumb. If you want to hire someone, you need to prove that your opportunity is worth considering. If you want to retain someone, you need to prove that your position is worth keeping. The same salesmanship and relationship building that would go into acquiring a new client needs to be directed at tech professionals. Otherwise, they’ll pass you by – both groups receive enough offers to cherry pick the best of the best.
Building the Best Candidate Experience
Put yourself into your candidates’ shoes. They are bombarded with messages from companies and recruiters on a regular basis, and many of those messages are for positions that do not align with their career goals. When they eventually do connect with companies, they wait for weeks to hear about their status. The process is understandably frustrating.
At the end of the day, they want to work for a company that values them, and a positive candidate experience conveys this. Here’s what sets effective hiring apart from the rest:
- Act Fast– The average hiring process lasts 45 days. In that time, candidates feel disrespected and instead accept job offers from prompt companies. You can win them over by predetermining the qualifications for the job, streamlining the candidate approval process, and responding to candidates in no more than 48 hours.
- Offer Competitive Benefits – Treat the job offer process like a blind auction. Lowballing IT professionals provides your competitors with an opening to make their offer. Do your compensation research (our Twin Cities and Kansas City Salary Guides are a great start) and offer benefits that improve their work-life balance.
Building the Best Employee Experience
A high-functioning employee retention plan is less about sales and more about delivery. Do your employees feel valued on the job? What encourages employees to stay with your company? If you can foster a positive experience that answers the above questions, then it will be more difficult for your competitors to hire their next employees from your ranks.
So, what strategies are essential to lower your employee attrition rates? Here are a few that can help you determine what works and what doesn’t:
- Explore What Tech Talent Wants –According to TechRepublic, IT professionals want flexible schedules, telecommuting options, wellness allowances, and casual dress codes most among their benefits.
- Dig for Data – To get a full sense of the employee experience, you need to be conducting interviews with employees regularly. Run a pulse survey to get a routine measure of what works, what doesn’t, and what you can improve.
Want to improve your ability to hire top talent fast and efficiently? Contact our team to acquire amazing new employees in half the time.
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