3 Steps Winning the Talent War
2007 will be a year of competition to fill jobs, especially for
employers of 500 or fewer people. The United States average
jobless rate is 4.5 percent; 3.5 percent is typically considered
full employment. Twenty-six states are now below the national
average and the pinch is on.
Employers are having a tough time filling positions at all, so
getting highly qualified help is a luxury. The competition is
fierce for the best candidates. Companies need to be creative
and aggressive to create positive conditions to attract the
right people for their open positions.
1. Attracting the Right Employee
Small businesses must evaluate what job candidates are seeking in an employer. Drastic changes may need to be made to attract high-quality employees. Many of America's 5.7 million small employers will have to consider raising wages to better compete with
larger employers with higher salaries.
Hiring the wrong person and then having to find another person with a better fit is costly, reduces morale and causes disruption to the small workforce. Higher wages can actually be cheaper in the long run if you consider training costs, turnover expenses and
poor quality.
Another way for the small business owner to attract the right
talent from a slim employee talent pool is to offer better
benefits such as flex time, home-based office hours, and work
environment maximization.
2. Work Environment Maximization
The younger generation has a different approach to work and a different expectation of a work environment. Those employers willing to make work environment changes will attract better quality employees.
Typically the workplace has been a cube farm with Internet restrictions, rules against personal music devices, and sterile break room facilities. A working computer, phone and a couple of stocked vending machines used to be enough. Not anymore.
A complete makeover is needed for the workforce of today and the
future. Individuality, personal space, and flexibility are keys
to attracting the right minds for the right jobs. Employers need
to review their dress codes for their reasoning. Financial
employees contacting customers directly must present a
trust-inducing image, but an internal salesperson who rarely
comes in contact with the client in person can have a different
style of business attire.
The key is finding the work environment best suited to your employees, not your view of how things have always been and should be from now on.
The new generation's perspective on a work environment has shifted dramatically, driven by technology's elimination of the need to work in an office in the same building as your boss. For many of us who have been working 25 years, working in a home environment
is a luxury, for the newer workers it is now the standard whether the office is actually in the home or not.
3. Internal Branding
Many companies are well aware of the need for branding for
customer recognition, loyalty and awareness, but few are working
as diligently on their internal branding. The viral buzz that
can spread on the Internet about a company through customers
whether happy or disappointed can take on a life of its own. The
same happens for company employees and the culture of your
organization.
Internal branding is a unique way to create a brand within your
current employees to attract the best talent everyone is trying
to hire. Because future employees know it will be a favorable
labor market for them, they can afford to be selective and their
criteria will not only be based on money and benefits, but will
include a more important barometer: Will I like working there?
Today over 75 percent of U.S. employees do not enjoy their job
or like the company they work for. The new workforce is not
going to accept that, and they know with more jobs than
applicants, they won't have to.
Savvy companies will be working to create a brand identity of
the best place to work. Product loyalty like iPod and Starbucks
are well crafted branding identities for customers of this age
group. These products are fresh, new and fit the needs of this
market. Internal branding is the same thing, only directed
inward.
Crafting your internal brand message will be just as crucial to
your future success as your branding to your customers. Now is
the time to attract the best talent before your competitors grab
them, and create an internal brand that has tremendous draw,
appeal and cachet. Smaller businesses can have a greater
advantage over large organizations if they act swiftly and make
the transition immediate.
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