How to Attract and Retain Top Talent

The supply of talent is low. The demand for talent is high. Nationally unemployment is at 5.5% and locally here in Indianapolis we have a rate of 4.3%. Wage pressures are forcing employers to increase rates to remain competitive.

Here are three ways to attract and retain top talent given the current employment landscape.

1. Pay for Performance – Increase wages without increasing costs. Link employee effort to performance and results. Not unusual for sales people, CEOs, etc – why not expand this to your hourly workforce to allow employees the opportunity to earn more. This will help reduce turnover and improve productivity.

2. Employee Engagement – Provide workplace flexibility, real-time feedback, coaching and mentoring, a job that aligns with their personal values, and create a "cool" work environment. This can be accomplished even if you operate a warehouse, work inside a dental office, or staff up a call center. Feeling connected with work does matter, try being a culture that happens to have a company. 

3. Employee Recognition – Several studies note that money or compensation is not always the best motivator. While I would disagree for hourly employees – engage your workforce with Employee of the month, spot awards for safety or work activities that exhibit company culture, and breakfast with the CEO, etc.

Don't Search for Jobs - Target Employers

Are you tired of searching for a job for the past few months? The problem is that you’re looking rather than targeting. I would tell anyone who’s been out of work for two or three months should pick five targets — the places where you want to go work.

Once you have a list of employers, research each one and its competitors, looking for problems and opportunities. Brainstorm for ideas and solutions, which you can turn into a white paper or a Prezi presentation. Then, tap your network to arrange meetings with executives at your target employers, where you can deliver your findings. Also explore your base of contacts on LinkedIn and leverage those contacts that have inroads to those specific employers.

The moment you sit across from an executive and discuss the profits or productivity you can increase for their company, you are transformed. You change from being a job seeker, which is a position of weakness, into a problem solver, a position of strength. In fact, you may never go on another job interview again. Instead, you’ll be having business meetings with executives who are eager to hear your ideas.

Employers are people, too. And while most don’t like to be sold on the idea of hiring more staff, they still love to buy. Point out — specifically — that you can produce $1.00 in profits for every 35 cents you’re paid in wages, for example. When you do this, you’re selling money at a discount.

Now, what employer wouldn’t want to buy that?

(Excerpt taken from Jeffrey Gitomer on job search tips)

How Employers View Your Online Presence

Having a strong online presence is important for a job search. It’s more than likely a potential employer is going to “Google” your profile to see what they can find on Facebook and LinkedIn. Here’s five tips to creating the right perception in an online world.

1. Posting personal crap. Don’t raise a “red flag” to employers for constantly posting (rants, funny videos, etc.) every hour onto your Facebook page. Employers will see this as a distraction cutting into work time. By the way, I’m not talking about power users who understand how to leverage social media for their business or job function.
2. Build up endorsements on LinkedIn. If 99+ people endorse you for “finance”, it’s fair to say you're competent in this field. 
3. Username: If your Twitter handle is inappropriate or a little too cutesy (iLuvFluffyKittens), change it. 
4. Showcase your past accomplishments. Putting up published research papers, company projects, volunteering services, and certifications online allows recruiters to have a clearer picture of your competence. 
5. Keep learning. New technology, new tactics and new information are always coming. Invest in yourself and your blog, personal brand, and stay on top of new trends.