Attracting talent is getting harder. You’ve no doubt experienced the demand for increasing salaries. Whether that be from your current teams requesting pay rises, or when it comes to recruiting. But if you are a company with tight budgets, paying an increased salary is not always possible. Plus, with the cost of running a business increasing on what seems like a weekly basis, budget pressures are being seen across the board. But it isn’t all bad news. There are ways that you can still attract the people you need without having to increase your salaries.
We want to help you to be able to continue to recruit the people you need to make your business a success. So, we’ve asked our team to share their thoughts.
It isn’t all about the salary
It’s important to remember that candidates don’t usually accept a job purely based on salary. Think about what makes your business unique. Whether it’s location, office environment, or team members, identifying what makes you different is key when it comes to attracting talent. Another idea is to speak to your team. Speak to those that have been with you for many years, and your most recent starters. . Find out what makes your company special, why people stay, and sometimes you may also find out why people are looking to leave.
That’s another area you may want to look at. Do you perform exit interviews? Identifying why people leave can be invaluable information when it comes to attracting new talent. Why are you losing staff. If indeed you are? You’ll find that it’s not all pay related.
Are your employee reviews preventing you from attracting talent?
The number of vacancies in the UK are at record highs. Additionally, unemployment is at its lowest for years! Therefore, the power is well and truly in the hands of the candidate. Your employee reviews can even stop candidates applying for your role. When we speak to candidates about a job, they have to give us the authority to send their application. More and more, candidates are doing their research at this stage. This means that you may not even get the chance to see that CV of your ideal candidate.
When was the last time you looked at your online reviews? Websites like Glassdoor are a great source of information for any prospective candidate. What does your profile say about you. We understand that sometimes you may receive a negative review. It’s imperative to respond to any reviews online – both positive and negative. This shows that as an employer you take your employee satisfaction levels seriously.
Your culture matters
Diverse workplace cultures are key when it comes to attracting talent.. In fact, Glassdoor recently reported that 3 in 4 job seekers say that diversity is a key consideration when accepting a new job. But there are many other benefit too. A recent report by McKinsey, states that companies who focus on diversity in the workplace are 36% more likely to have above average financial returns for their industry. Therefore, a diverse and inclusive company atmosphere can help you to attract new talent and help you to retain the team you have.
Not all benefits have high costs
We understand that not all businesses can afford the more traditional benefits like healthcare, contributing to pensions etc. But there is good new. There are other ways to be able to offer benefits that don’t cost the earth. It’s now common practice for many companies to offer flexible, hybrid or remote working. Candidates now expect flexibility. Is this something you are offering? If your business doesn’t support flexible working, there are also lots of other things you can offer. Candidates are very keen to be able to upskill. Whether that be with official on-the-job training, or external training courses. What skills can your company benefit from? Would you get a great return on investment if you did decide to fund courses. Alternatively, what skills do you have in-house that you can pass on to a new starter?
A recent report stated that as many as 40% of employees are looking for a new role in the next 6 to 12 months. The reason? Lack of career progression. Is this something that you can offer?
Use a specialist recruiter
Would you like help to recruit the best talent? There are many benefits of working with a recruiter –
- Advertise your vacancies across a range of job boards
- A strong database of candidates
- Access to all the CV databases of major job boards
- Proven shortlisting process to identify top talent
- Advice on the market / salaries / benefits etc
If you would like to know more about how partnering with Charterhouse can help you secure the best talent, get in touch with our friendly team today.