Retaining and recruiting key talent has always been a main priority for HR leaders and recently, it’s been further amplified by market and industry issues, like a looming recession, increased inflation rates, The Great Resignation, quiet quitting, labor shortages…and the list goes on. In fact, The Hackett Group reports that 62% of HR leaders plan to make recruiting and retaining staff in key business positions and with critical skills a priority in 2023. To help, we have two feature stories that zero in on these important issues and offer real-time solutions.
In Making or Breaking Employee Retention, Kelley Daviss, executive vice president of human resources for Lendmark Financial Services, says, “Today’s employees want it all: flexibility, training, career advancement, competitive pay and benefits, commitment to diversity, equity and inclusion (DE&I), mental health and well-being resources, and a purpose that goes beyond a paycheck.”
This is a tall order, but today’s most competitive organizations are delivering on their promises. Daviss advises that HR should begin by communicating their offerings and their efforts. This will create a culture of transparency and build morale and goodwill. She also says that exchanging feedback will provide employees with a sight line to their future—one they have a say in.
Daviss also says it’s helpful to pair each employee with an HR business partner as a main resource for any HR-related questions or issues. This can speed up the process greatly and ease any anxieties.
In Winning Top Talent, Melissa Dreuth, chief people officer and chief of staff to the CEO at Planful, says a good recruiting strategy starts with communication. Today’s candidates expect to be courted throughout the entire process so TA and HR leaders should be promoting it all—company merits, employee perks and benefits, growth statistics, and more. Plus, she advises leveraging technology to take full advantage of automation’s efficiency.
“Now is a great time for recruiters to look at the talent pool with a wider lens and use technology in new ways, recognizing that data is a critical element in telling a company’s story,” she says. “By changing the approach, people leaders can successfully navigate an evolving candidate market.”
And as HR knows all too well, every day is ever-evolving so it’s best to be prepared.
Until next time,