The US labor force is shrinking.
For instance, the participation rate of men between 25 and 54 years old has fallen 10% since 1954. It’s not just men of that age though who aren’t working or seeking employment as much. In reality, the labor force in this country is dwindling all round and at a rate of knots.
It’s becoming harder and harder to fill roles. That’s bad news for employers looking to expand their workforce. With fewer people to choose from, it’s more difficult to entice talented individuals to teams.
However, all is not lost. Thankfully, there are many ways to turn the tables. You’ll be attracting top talent in no time at all with the right approach.
Keep reading to find out how to attract employees who’ll be a boon for business.
How to Attract Employees Who’ll Be Best for Business
The growth of your business calls for new hands on deck. Here’s how to attract the best talent possible.
Ensure the Price is Right
Money isn’t everything.
But it definitely sweetens the deal for prospective employees.
Most people look to earn as much as they can from a certain role. That’s arguably truest for people fresh out of college. Having spent countless thousands on their education, graduates are generally quite keen to start paying off their debt.
Do your market research. Look around and see how much your competitors offer for similar positions. Then raise your attraction levels by going a little higher your own offer.
Offer Employee Benefits
Can’t afford to offer a high salary? Employee benefits are a solid alternative.
If you can provide both (benefits and a high salary), then you’re on to a winner.
Indeed, a benefit program is often considered a necessity by prospective employees. A position with benefits inevitably has a higher interest rate than one without them. At the very least, coverage for life, dental and medical is crucial to attracting real talent.
Remember, most of your major competitors are likely to have these set up. You need to at least match their offer if you’re to be an appealing employer. Go one further and raise the offer to get an edge.
Ask Old Employees to Come Back
Almost every employer has a list of employees they wish never left.
People come and go. That’s to be expected. However, it’s inevitably a challenge when a fantastic employee, who knows the role inside out, decides to go.
There’s often nothing stopping you reaching out to them in due course though. Take a stroll down memory lane and think back to the best employees who’ve come and gone on good terms. Give them a call! Ask what it would take to attract them back.
Your success rate might not be great here. But you never know. This is one of the easiest methods on this list to get top talent to fill a role fast.
Focus on Your Reputation
Your business reputation automatically precedes you.
Your name in the industry goes a long way. A great reputation generally means you won’t have to worry about filling positions. Word spreads that there’s a job going at an awesome organization. The talent comes flocking to the door.
Look at your reputation as free advertising. Sure, you usually need to have been around for a while, and got to a certain size, before you develop a name for yourself. Only then will your reputation get established and make a difference.
That’s not always true though. There are various online employer review sites, such as Glassdoor, which can have a significant impact. A poor rating may well dissuade individuals from applying. Focus on establishing a positive name for your company from the very beginning.
Create Room for Growth
You need to know what employees want. You can guarantee they want to know they can grow in your company.
No-one wants to feel stagnant. Many people will leave a company when they feel they’ve gone as far as they can go in it. In the same way, knowing there’s the opportunity to move upwards is a major incentive to start lower down.
In essence, the company can match an employee’s ambition. And you want employees with ambition. They’ll work hard for you and do their best to earn their right to progress up the ladder.
Advertise the Offer
Advertising is one of the most important parts of attracting employees.
It’s simple: people need to know who you are, and that there’s a job available, in order to apply. The way you advertise is crucial to success.
Online and offline are equally important. You need to be advertising in relevant places in both the physical and web worlds. Job boards, college websites, social media platforms…You need to be where your employees are. Oh, and have your own website too.
Sometimes the best advertising starts on your own premises. There are lots of ways to do it well. But interior signage can be an ideal solution for your business.
Showcase Your Leaders
Your leaders help develop a name for your company.
Have an inspiring person who leads the way in your business? Hell, are you that person?
Get on out there into the marketplace. Start running conferences, going to network events, doing open days, giving talks, speaking at universities, and so on. Employees are drawn to quality leadership and vivacious people with vision.
People will see your leaders, learn more about what you do, and flock to quality leadership.
Provide a Signing Bonus
If all else fails, offer a direct cash incentive to join your ranks.
It may feel like bribery. And sure, you want people to want to join your company without being paid to do so. However, this can make a difference, particularly in competitive industries.
Businesses do it all the time to attract customers. How often do you see cash incentives for subscribing, joining and buying something?! This is exactly the same, just with employees.
Time to Wrap Up
There you have it: how to attract employees who’ll be great for business.
The labor force may be dwindling. However, all is not lost. Where there’s a will, there’s a way, and you can always find someone to fill a role. That’s especially true when you know exactly how to do it.
Hopefully, the ideas above will help you start attracting talent in no time at all.
Did you like this piece? Read more about what makes the perfect startup employee.