Hiring is a major part of a business’ operations. Recruiters and human resource professionals are always on a run to find the most talented professionals for their organization. However, hiring is not the only crucial bit. Retaining the new hires is an equally significant operation. This is something many organizations largely overlook.
If you are a part of the hiring team, then you would know how hiring a talent is like winning only half the battle. The other half is retaining that talent. For hiring would do you little good if you have to start the process all over again a month or a couple months later.
While situation was different a decade ago when economy was hit with recession and job-seekers were accepting any job they could get. Today, however, economy is largely booming and job seekers have become selective of their choices when it comes to becoming part of an organization. This also means that should better opportunities present, employees are likely to take it.
As can be deduced easily, organizations today have high probability of facing massive skills shortage. To avoid this scenario, it is crucial to make retention a part of your hiring strategy. But how should you do that? Here is the answer.
Engage Employees and Leverage the Engagement
Little attention goes long way. That is the mantra you should apply to hiring and retention. Encourage employee engagement to show them you care. Connect with your employees through employee engagement activities like book clubs, tournaments et al. This will not only help you in retaining employees for longer but will also help you in attracting fresh pool of talent through your engaged employees. It is widely recognized that engaged employees are more likely to share job advertisements, recommend your product or service to professionals in their network, and help in earning awards which would ultimately attract prospects.
Many organizations follow certain recruitment mandates. These, of course, vary with organizations. Let’s discuss a few of those. First is to finalize a candidate profile first. Discuss the necessities with your stakeholders and ensure you all are on the same page. Second, you should talk to the existing team. There are chances millennials in the team will have an insight that managers may have missed. Third is to make use of referral programs. Referrals, in fact, are widely considered as the number one source in hiring volume, and also for new hire quality.
Focus on Motivators
Your company’s potential for progress depends on the strength of your association with the workforce and your focus on their motivation. Later is a key component in driving employee performance. To motivate your employee is to drive him to perform adequately and often exceed expectations. There are three key needs of an employee that are constant across industries. These are sustainability needs, relatability needs and growth needs. Focusing on these for motivating your employees will help you immensely.
As final words, we would say, you should never stop training. Invest in your employees. It not only refines their skills which would ultimately benefit your business but also keeps your employees engaged, challenged and motivated. There are some leading millennial experts such as Jeff Butler who guide organizations, including Fortune 500 companies, on finding, hiring and retaining millennials. So, for strategies on retaining millennials in your organization, these experts are the best means.
Jeff Butler Internationally respected speaker and consultant, Jeff Butler helps bridge generational gaps between Millennials and companies looking for their talent and patronage. Butler has quickly built his reputation as a memorable presenter with tangible solutions for attracting, retaining, and engaging Millennials as employees and customers. Within just the past three years, he has spoken at two TEDx events and multiple Fortune 500 companies such as Google, Amazon, and LinkedIn.