How to attract and retain talented staff

Money has, is, and always will be a major factor in attracting and retaining your team. But it isn’t everything. There are other ways.

So here are some of the key ingredients you need to attract and retain great people.

Culture is a winner

When you look at the companies that are often named as the world’s top employers, the magic ingredient ‘culture’ often tends to trump cash. Not surprisingly, people like working for, and tend to stay at companies where they are happy, fulfilled, part of something exciting, and where people care.

One size does not fit all

It’s also important to remember that different things motivate different people, so it’s highly worthwhile to understand exactly what motivates your individual employees. You can do this as part of your formal performance review process, or more informally in everyday conversations. You’ll probably be surprised by what makes each person tick and what motivates them to stay and continue to do their best for you and your company.

A great way to showcase your culture and attract the right people when advertising a role is to make a video. Create a real-life story on the role, who you’re looking for, your workplace, your people and what it’s like to work there. This does require a bit of planning, but it doesn’t require a big budget or a movie director. Simply grab your mobile phone and make it real and authentic.

Career development

Whether it’s training and mentoring or other traditional career development opportunities, it’s important to recognise the importance of career advancement as one of the key reasons why employees decide to join, remain with, or leave a company. Training and development sessions provide a great opportunity to promote personal growth and for employees to step out of their day-to-day work.

Working remotely

If it works for your business, why wouldn’t you offer your employees the flexibility to work from home? Or offer flexible hours between the office and home? For many employees, the ability to avoid rush hour traffic is a huge plus, as is being able to pick up the kids from school on occasion, or having the ability to be more focused out of the office environment.

This flexibility can be highly beneficial to your employees’ wellbeing without costing you a cent. Employees who value this benefit tend to be even more productive out of the office, so it’s a huge win/win for the employee and your business.

Part-time hours and job sharing

Not everyone wants to work full-time, and while costs may be slightly higher than employing a single individual, offering part-time roles and job-sharing opportunities has significant returns, particularly if it means you get to retain team members who want to work fewer hours. In fact, it’s surprising how many people who work reduced hours feel they get as much done in four days as they do in five. The reason: they make each day more focused and productive.

Listen to your employees

While I’m sure you’re familiar with exit interviews, you may want to instigate “stay” interviews so you can find out exactly why employees stick with you and what it would take for them to leave. Everyone benefits when they can contribute and have their say. Of course, by listening, you genuinely need to be ready to respond and take action where appropriate.

And finally – put your people first

In terms of attraction and retention of top talent, there’s no one-size-fits-all approach, but it’s always important to recognise your people as your most valuable asset.

A great workplace is just as important as the products and services you take to market. The best thing you can do is be as real and authentic in all your interactions with your people as you are with your customers.