Is your business attractive to potential and current employees?
Britain is certainly not short of entrepreneurial aspiration with a 2019 report by SME Loans showing that over half of the UK workforce is striving to set up their own business. Generation Z is most keen on this, where 4 out of 5 in this age group want to set up a business one day with the main reasons being around flexible working, financial gain and environment.
This entrepreneurial aspiration could be contributing to the fact the number of graduates has also steadily increased, with higher education now regarded as a necessity to succeed in a long term career or set up alone.
These findings suggest that a significant quantity of the professional workforce could be lost to self-employment in the future if employers don’t start offering more enticing packages to meet these expectations. Candidates often drop out of the recruitment process or turn down job offers due to ‘red flags’ along the way. Below are some key areas for your organisation to consider when looking to attract top tier candidates.
A Desirable Brand
Presentation is everything. It is important to make sure that your business has clear branding, a USP, vision and of course a desirable culture. These are all key elements when looking to secure top talent.
Millennial's and GenZ especially are looking for more than a pay check in the form of a work environment that will add personal value and enjoyment. It is important that during the interview process you sell your company ethos and office culture in an honest, but positive light, as this will encourage the candidate to be more excited about working with you.
Flexible Working Options
Millennial's in particular consider flexibility to be an important part of their working life and can be a deciding factor in their choice to accept your offer. Having the infrastructure to offer working from home at least one day a week gives your employee that all important work-life balance. Flexible hours to support with childcare, lessen the commute or enable out of work commitments that enrich the employee’s life shows that your company are forward thinking, flexible and understand the benefit of a good balance.
A Modern Benefits Package
In the past year or so we have seen the benefits package become almost as important as the salary. It’s certainly an area that can encourage an employee to join your organisation if the salary doesn’t quite hit their expectation. If you don’t yet offer a comprehensive benefits package this is an easy solution to entice the best talent. Business News Daily has some great specific tips where to start with this.
An Efficient Recruitment Process
The recruitment experience says a lot about how a company operates and offers a glimpse into what it would be like working for you, therefore its vital companies put their best foot forward. Consider the fundamentals which include being on time, polite, welcoming and paying attention. You wouldn’t hire a person who can’t meet these basic elements so why would you want to work for them?
Also bear in mind that the market moves quickly and so does top tier talent. If you interview a strong, proactive and efficient candidate, you risk losing out on them by moving too slowly and postponing interviews, as they are unlikely to see this is an attractive way of working. If you find a perfect candidate for the position, don’t wait too long to offer them the role as they will probably be in other recruitment processes with your competition.