Attracting, developing and retaining the right talent

Business is about people – and people are one of your most important assets. Attracting, developing and retaining the right talent is fundamental to long-term business success. We share our top tips on finding and keeping the best people within your business to drive growth.

Plan like your business depends on it
Develop a short and long term talent plan – what do you need now? What will you need in 12 months’ time, and beyond? Plan the direction the business is going in and understand what talent you need to make that happen.

Attract the talent, and keep them for longer
Make it clear that your company is dedicated to its employees’ satisfaction and professional development. “Offering the right benefits can be an important part of the package, from helping you attract the right people in the first place to making it more difficult for someone to decide to leave.” states James Malia of performance improvement specialists P&MM “everyone is different. You can’t expect the same reward to suit everybody.”

Increasingly, employees are looking for flexibility from their employers. Many people who don’t currently work would consider going back to the workplace if they could work more flexibly. 60% of mature workers say they would take up remote working if it was available. They’d also delay retirement by an average of 6.6 years, so you’d get the benefit of their experience for longer.

Transparency and involvement
Keep your employees up to date with how the company is doing and let them know how their work is contributing to the success of the business – they’ll automatically be more invested in its success.

Opportunity and growth
Ensure that each employee can see and understand the long-term personal and professional growth they stand to achieve within the company. If you show them how they can grow within the business then they are far more likely to do so.

The right tools for the right job
The right tools vary by company, but it could mean providing a work phone or tablet, or just ensuring that the accounting software they use is effective and efficient.
Either way, you want to ensure they’re equipped to succeed. Having the right hardware is vital for allowing your staff to remain connected when they’re out and about, but don’t automatically assume that staff who work remotely will need a laptop – try looking to hardware that’s not hard-wired and cloud computing solutions. Many people now use tablets instead – research by Holiday Inn Express found that 58% of mobile workers travel without a laptop.

Finding the right talent
You can either outsource your search to a third party or do everything ‘in-house’. The advantages of using a recruitment agency are clear – extensive experience, a wide pool of contacts, an established vetting process, and they have time to dedicate to searching. However, you may already know someone you think is suitable for the role, perhaps someone you’ve known for a long time, who you trust.

Line managers – essential for good times and bad
Ensure that each employee is assigned a line manager, they know who that person is, and that there are regular meetings to discuss performance, both good and bad. This is the ‘front line’ of talent management and is a critical step in ensuring clarity in job roles and performance expectations.

The bottom line? Your talent is your business

Leaders need to recognise that in growing businesses, managing your people is a top business priority. Growth, sales and profitability all come from your employees enjoying their roles and performing to the best of their abilities. Leaders who neglect talent management do so at their peril.

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