How to Attract and Retain Quality Employees
Employee appreciation picnic complete with rock wall, bounce house, and taco truck! |
This skillful CNC operator always brings a smile to work. |
A quarterly team meeting and luncheon cultivates a positive workplace environment. |
American businesses big and small are having challenges with finding quality workers.
Adding further strain, the U.S. Bureau of Labor Statistics shows there is a significant decline in the number of prime-age workers participating in the labor force, while many seasoned workers are entering retirement age, resulting in a shortage of both experienced and entry-level workers.
According to CNNMoney.com, many businesses feel they have no choice but to pay higher wages to attract and keep the workers they want.
One New England manufacturer reported he was three months behind schedule as he scrambled to hire employees for a new factory.
In Missouri, building companies have limited ability to construct new homes as they struggle to find workers.
The West Coast’s reported labor shortages are affecting industries from farming to manufacturing, and even after hiking wages, employers still say they can’t find enough people.
With a dwindling pool of employees and an increasingly competitive job market, how can you give yourself an edge as an employer to attract and retain quality employees? Market your company to prospective candidates by creating a work environment that reaches beyond the paycheck—be a company that people WANT to work for!
In a recent article published on Forbes.com, several concepts were identified to help employers navigate the candidate’s job market. The underlying trend? Create an irresistible company culture. A few of the key strategies are:
Be more people-focused and foster employee advocates. Happy employees will promote the company everywhere they go. If you invest more internally, you can make your company more externally attractive.
Examine your environment and culture. If you cultivate a positive, healthy workplace environment, you can drive employee performance and productivity, and make yourself stand out as a desirable employer.
Promote work-life balance. Employees value work-life balance now more than ever, so try to show employees that you appreciate their dedication to their job as well as their life outside of work.
Provide purpose and emotional connection. Employees want more than just a paycheck — they want to make a contribution and know their role in a company’s journey to success. Be sure to identify a clear and authentic mission for your organization that creates an emotional connection with your staff. Ensure that day-to-day experiences leave employees with a sense of purpose, pride, and commitment to achieving the company’s mission.