Attract, retain, and empower: 3 ways to build a strong team in 2023.

According to an iCIMS report, 92% of C-suite leaders say their organizations won't meet their goals without the right talent. This statistic highlights why building a strong team is imperative to overall company success and why so many studies have been conducted to explore ideal ways to attract and retain employees. 

Employee retention is a multifaceted endeavor and can be broken up into two distinct parts. The first addresses the post-pandemic priorities that require holistic offerings centered around employee wellness. The second addresses how employers can empower employees by supporting growth within the company and facilitating professional development.   

A 2021 Bureau of Labor Statistics report found that the average annual turnover rate was around 57%, meaning the fight for talent is tougher than ever. While salary is a significant factor, it is not the only one considered when employees decide to take or stay with a job. As you strategize about attracting and retaining workers, that is an important insight to remember.   

1. Attracting key candidates  

Christy Spilka, iCIMS global head of talent acquisition, offers a novel strategy for attracting talent: "We need to look at the candidate journey the way that we do the consumer journey. Just as a business would track consumer metrics (including satisfaction) and create engaging experiences, we need to do the same for job candidates. This starts before a candidate even applies. What is the sentiment of your brand as an employer right now? How are your employees talking about your organization?"  

Paint a picture of what your company is about by clearly communicating your mission and vision statement. Employees want to know who they work for and what the company stands for. They want to work for an organization they identify with, whose goals and values they can get behind, and who acts in a way they trust and support. Your aim is not to attract everyone. It is to build an organization filled with people that truly support your purpose. 

Job description  

Crafting a compelling job description is a significant aspect of attracting your ideal candidates. You want to strike the right balance between providing key details about the job and sharing more about the company. Start with a targeted job title – these tend to be more effective than their generic counterparts. Then open your job summary with an attention-grabbing overview of your expectations for the position. Finally, describe responsibilities and duties, qualifications and skills, salary range, and benefits.     

Methods of communication  

Take a fresh look at your employer value proposition (EVP) and consider how to bring it to life more authentically in all your communication touch points.  

Consider ideas such as text messaging, automated updates, emails, and social media as opportunities to build genuine connections with like-minded people. It's a chance to wow potential candidates (not to mention potential customers) and re-inspire existing members of your organization's community. 

Create content that brings your brand's voice to life more authentically. Employee testimonials are an example of life-giving content that might benefit your talent attraction strategy. First-person accounts of working at your company could go a long way. 

2. Retaining your team  

Many employers have found that they have had to adjust to post-pandemic priorities to retain their employees. Today’s workforce expects more than the basic benefits package of health insurance and contributions to their retirement accounts. They call for holistic wellness approaches that contribute to a fulfilling work-life balance. 

Competitive Salary  

Salary is not the only factor for job seekers, but it is undoubtedly a big one. To attract skilled workers, you must be prepared to pay them what they are worth. In order to determine fair rates, start by reviewing industry standards for employee salaries. Consider benchmarks like locations, roles, and experience to guide your research further.  

Competitive compensation is not a one-time deal. At least once a year, salaries need to be reviewed and adjusted for inflation-based and performance-based raises. 

Holistic wellness packages 

Candidates want increasingly more mainstream benefits, including mental health resources, flexible work schedules, and a diverse and inclusive work environment. Things that were previously nice-to-haves are now regarded as essential.  

Companies across many industries now offer benefits like flexible work schedules, additional paid time off, work-enhancing tech tools, extensive mental-health support, senior care benefits, and childcare benefits to stay competitive. Offering a diverse combination of compensation is necessary to make job offers more attractive. 

3. Empowering your employees  

Genuine interest in fostering career development and employee growth is a great way to get the best out of your workers. It’s an investment in your team’s future, boosts company morale, and, as a whole, strengthens your team.  

Professional development  

A survey from the Work Institute found the lack of career development opportunities to be the most significant reason employees quit their jobs. Identifying clear goals, coming up with a development plan, and periodically measuring progress show your employees that you value them and encourage them to stretch themselves at work. Empower each of your employees with a unique career development plan. This plan can focus on their strengths and interests to keep them motivated and garner goodwill towards you and the company. Follow through on their plan by offering in-person or online training opportunities. 

Internal opportunities  
Internal hiring is a long-term strategy that goes hand in hand with developing talent. LinkedIn's 2021 Workplace Learning Report states employees stay nearly twice as long at companies that regularly hire from within. Eventually, positions that align with your employee's development goals will need to be filled. Create a pipeline of qualified employees by creating cross-training programs, mentorship programs, and stretch assignments that will enable them to earn that spot. 

Putting it all together 

Building and sustaining a team that closely aligns with your mission and vision will require a plan. By front-loading your employee pipeline, you will create a strategy that carries people from prospects to employees and from employees to long-standing employees. In turn, this takes some guesswork out of finding the "right" candidates at the right time.  

What's your company's talent acquisition strategy? Are you working on changing your business's direction? Share with us in the comments! We can't wait to hear from you.  

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