This was written by our sister company Humankind and published on their blog.
When attracting and retaining top talent is critical to winning in business, employers might be feeling more nervous about the latest results from Trade Me. A recent article on Stuff.co.nz quoted Head of Trade Me Jobs Jeremy Wade saying it was still “a job hunter's market. We are receiving fewer applications for roles and there is hot competition for top talent.”
I think we instinctively know this is the case, it feels like we have had to work a lot harder to attract and retain great people for some time. As Director of sister companies Humankind and Kin, I understand what these challenges feel like first hand, talent is certainly the key to our growth - we also deeply understand this challenge through the lens of our clients.
Ensuring top talent picks your organisation can be as simple as caring about the experience of your people.
It is very important to consider every touch point during your recruitment efforts. Communicate regularly with your candidate and share the entire process with them at the beginning so they know what to expect. Give your candidates every chance to succeed - not to fail. At Kin we are obsessed with candidate experience and we know that our clients that focus on this get better results.
2. It is not all about money.
Remember the balance of power moves from you (the employer) to your candidate as soon as an offer has been made. In this market top candidates have multiple offers, which means your offer will need to be compelling - this doesn’t just mean a higher salary. What else can you offer that might appeal? Everyone is different, so tailoring your offer to the individual will be important - this is not a one-size-fits-one business! Ask your candidate what they want. Consider flexibility and development opportunities among other benefits to sweeten the deal.
3. An authentic employee value proposition (EVP) stands out.
Undeniably more of a long term play is considering the entire employee experience. Organisations who do this well have the best chances of attracting and retaining top talent. Employee experience includes leadership, people operations, the environment your people work in and the tools and data that enable your employees. Understanding what will make the biggest difference to your current and future employees is a great place to start. At Humankind we help organisations understand what their people say, do, think and feel about their experience at work - truly helping our clients to understand the stories their people tell and how that will be contributing to their EVP.
A job hunter’s market is the opportunity for your organisation to see an investment in your candidate and employee experience as a strategic imperative and a competitive advantage. A business strategy without the best talent and capability to deliver is almost useless. Exec and Board members alike will know that giving your organisation the best chance to win in business means attracting and retaining top talent.
One thing I know for sure is that if we aren’t delivering a great candidate and employee experience, someone else will - and we will miss out. In this job hunter market, let’s ensure we increase our chances of success.
Care about the experience of your people to ensure the best candidates choose you, and succeed at your organisation.