Attracting and Retaining Top Talent – Growing Your Business

Your business is growing. You have a solid base of clients and a reputation for excellence. You understand that if you want to continue scaling, you need to grow your team. Naturally, you want to attract and retain qualified and skilled individuals who meet your high standards of performance. Take these items into consideration and you will be sure to lure the best and brightest candidates to your team.

Benefits matter

Salary is just one component of the compensation package. Don’t minimize the importance of a solid benefits plan. To distinguish your company from other prospective employers, you may want to offer things like:

• RRSP matching
• Life insurance
• Coverage for therapy, naturopathy, chiropractic and other alternative wellness supports

The more extensive your plan, the more it will appeal to new hires.

Corporate culture matters

These days, employers are embracing more casual and flexible work environments. Not only because there are studies that suggest it can boost productivity, but also because in order to attract top talent, it has become a business imperative. Flexible work hours, casual dress and open concept office space, all contribute to a corporate culture that is easy to enjoy.

Think about your corporate culture and how it can be enhanced and then heralded in order to attract the type of person you wish to employ.

Social responsibility matters

More and more, and particularly amongst Millennial employees, it matters what you stand for. Companies are defining their corporate social responsibility platform and encouraging employees to give back.

By offering philanthropic matching opportunities and paid volunteer days, you send a message to your employees and prospective hires that you care about your community, and you support their effort along those same lines.

Your mission matters

Naturally, you are offering new employees a job. But to the extent that you are able to offer them something more than that, it will set you apart from the competition.

Are you changing the world somehow? Revolutionizing your industry? Building leading edge technology? Introducing groundbreaking services?

People want to work for visionary organizations, so take the time to refine and showcase your vision. And then make it real.

Feedback matters

Employees today crave feedback – at regular intervals, both informally and formally. They want to understand how they are performing, and what the opportunity for advancement might be.

Once you have attracted a qualified candidate, you want to make sure that you have scheduled performance reviews so that expectations are clear and the path to growth is viable.

Incentives can make a big difference in this regard as well. Think about how exemplary performance will be rewarded – are there bonus opportunities or SPIFs available? Consider offering these types of incentives to help retain your best performing employees.

So as you seek to attract and retain top performing employees, think about these considerations and how you can enhance your offering. But integrating some of these elements into the opportunity, it will distinguish your company from others.