How to attract talent for long-term productivity and success
How best to attract talent to a company? Even more importantly, how can this be done to achieve success in terms of productivity and results? These are some of the questions that many companies face when delving into the world of recruiting new professionals to integrate into their organization.
It is evident that salary plays a crucial, sometimes decisive role in attracting and retaining talent in a company. However, at HRbanda, we have explored whether there are other aspects that a company should consider when attracting qualified profiles, especially those who have a desire to stay within the organization. The more professional and results-oriented the recruitment process is, the greater direct impact it will have on the business’s productivity.
What exactly does the term “talent” signify?
In recent years, we have delved deeply into this concept, engaging in extensive consultations with numerous experts in human resources and management. Our quest led us to a definition that, in our estimation, comprehensively embraces the essence of this multifaceted term.
For us, talent is an amalgamation of skills, determination, and, most crucially, potential. These competencies traverse diverse professional domains, necessitating an analysis of skills across various spheres. However, these inherent abilities, devoid of unwavering dedication, are unlikely to yield favorable outcomes for both the professional and the company.
Profit impact: The cost of high employee turnover
It is a well-established belief that companies boasting low employee turnover tend to generate four times more profit than their counterparts with high turnover rates.
- They find themselves compelled to allocate additional resources to recruitment processes to offset attrition. In a parallel vein, costs related to onboarding and training programs also experience an uptick due to persistent staff turnover.
- Seasoned profiles, having garnered experience and knowledge in their roles, carry with them a wealth of accumulated know-how, which is susceptible to falling into the hands of competitors.
- Instances of employee overwork come to light as a consequence of the workload left by vacant positions during the quest for a suitable replacement. This phenomenon can significantly impact the quality of services provided and customer service, particularly during peak periods of overload.
Emerging strategies in top talent acquisition
In a gradual shift, we are embracing the use of big data as a pivotal tool for talent acquisition, confidently identifying it as a key future trend in talent management. The analysis of information empowers us to pinpoint individuals possessing the specific talent needed for new projects, as well as to ascertain the whereabouts of candidates of interest. Furthermore, it provides insights into effectively capturing their attention and enticing them to join our company. When confronted with two candidates boasting similar education and work experience, big data allows us to transcend personal and subjective impressions, facilitating a more objective analysis and the selection of the most suitable candidate.
Power of professional networking platforms to attract top talent
Social networks serve as a valuable resource in our ongoing efforts to attract top talent. Notably, LinkedIn emerges as the platform best suited for this purpose, enabling us to discover candidates who may not actively be seeking employment but possess the skills and competencies vital to our company. This approach grants us access to passive candidates, individuals not actively job hunting but open to altering their professional trajectory when presented with an appealing opportunity.
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