As the economy starts to improve, companies are preparing for increased competition in the search for talent. Reuters reported in January that a survey by Associated General Contractors of America revealed that two-thirds of construction companies expect it to become harder to find qualified construction workers during 2014. Finding credentialed graduates from Ivy League establishments is not difficult, but finding people who can hit the ground running when productivity demands increase requires immediate planning.
The Daily Muse considers that compensation and attractive benefits such as stock ownership are the best way to attract top talent. Others consider flexible working options and developing an eco-friendly image to attract millennials another. Many factors depend on the size of your business and how much you can realistically invest in your employer branding and recruitment processes. Here are some options to consider:
- Ask your top employees to provide recommendations, or to put out the word. Talent begets talent, so hire your best employees now and let them attract others of the same caliber. Don’t underestimate the power of social media in getting your brand message out and your employees’ ability to provide talented referrals.
- You get what you pay for. Don’t skimp when it comes to compensation or benefits. Treat your workers well, and they will reward you with loyalty and quality work. Offering average compensation may keep your cash outlay under control, but in the long run you miss out on the best talent that your competitors hire in the meantime. Consider offering company stock or bonuses based on profits to compete with higher salaries offered by competitors, and negotiate when you make job offers.
- Shala Marks of Recruiter.com suggests developing your reputation as an innovative employer that offers an exciting environment with leading industry professionals. Update your website to reflect a dynamic, cutting-edge company. Feature videos and staff profiles so that visitors to the site can understand your organizational culture.
Hiring the best that the labor market has to offer – ahead of your competitors – requires strategy and marketing. Contact a hiring professional at Staffing Service USA to learn how to find the right talent now and for the future.