By: Pranav Ramesh

The Secret to Retaining Top Talent

The hiring process isn’t always quick, as both parties need to make sure they are the right fit for each other. All employers will insist on finding the best talent whenever possible. (Not surprising, considering that a company’s hiring practices can make or break the business). Candidates, on the other hand, are equally particular about the organization they choose to join because of the impact it could have on their careers. And in today’s job market, talented job seekers have the luxury of taking their time and picking the company that suits their needs.

But hiring top talent is only half the challenge. Equally important is retaining talent.

Secret #1: It Starts with Expectations!

Setting expectations from the get-go might and maintaining clarity with your employees during the recruitment process is essential. Make sure you accurately define expectations before the hiring process even begins, both what you can offer and what you expect them to bring to the table. If their values align with yours, they are more likely to remain with your company for an extended time period.

Here are some aspects you should consider before beginning the hiring process in order to set realistic expectations both for yourself and for the people who will consider applying:

What Qualities Would You Like to See in Your Future Employee?

Preparing an ideal candidate profile, (basically, everything you would like to see in a future employee) not only saves you from having to weed out unsuitable applicants from the piles of resumes, but ironically, it helps you manage your expectations about the hiring process as well.

For example, if you’re looking to hire for a manufacturing or research and development department, you might want someone who is meticulous and detail-oriented. Or, if you’re trying to find a manager for a daycare, you probably want a calm and patient person.

So, lighten your workload by setting tangible expectations regarding the qualities you’re looking for in an employee. It will make the recruitment process much less stressful!

Consider the Culture You Are Hiring Into

Establishing core values is a must for every company, and the most obvious reason why is to speed up the recruitment process. By explaining your company culture to potential employees, both parties can see beforehand if the candidate will fit in at the company.

After all, a good cultural fit is crucial for employee retention.

If there are clashing values, it is for the best that they get pointed out sooner than later. Not communicating about values might be detrimental to both the employer and the employee, as neither can serve the other with underlying issues.

Therefore, it is crucial for an employer to consider and be open about the culture they are trying to find top talent for, as the cultural fit is just as important as having the desired qualities in a person. If the culture-talent fit is well-balanced, the talent and the company will reap the benefits.

Secret #2: Communication Will Open Doors

As mentioned above, communication before and during the hiring process is essential to ensure the qualitative and cultural fit of a candidate into your company. However, communication should be just as (if not more) important after the hiring process of the desired top talent is complete.

Communication serves as a bridge towards employee retention. As an employer, make sure your employees know they can come to you with any problems they might experience in the workplace. Studies show that open communication not only increases retention but also helps with the productivity of the workers.

Open communication will always lead your company in the right direction. Make sure that you keep up the best practices surrounding communication even after the recruitment phase is complete to ensure that your employees are happy and your company is running smoothly.

Secret #3: The Power of Competitive Compensation

When an employee considers leaving their current job for a better one, their most frequent reason is their payment. This is why employers will try to negotiate the compensation before letting someone go.

Avoiding workplace failure among employees is an important issue to focus on. And more often than not, offering competitive compensation is the easiest and most efficient way to ensure employee retention.

This tip is essential when trying to retain top talent. When your employee is confident in their abilities and constantly exceeds expectations, they know their worth and you should too.

Don’t underestimate the power of competitive compensation. It can help you build a fleet of employees your company and your clients will be proud of.

Do you want to bring success to your hiring process?

Then don’t hesitate to book a demo with GABI Labs. We can help you speed up your hiring process with our AI recruitment features. Our 30-minute product demo can be scheduled at your convenience. Optimize your hiring with Gabi!