Finding And Retaining Talented Personnel
Good workforce are hard to find. It may be easy to fill unfilled positions if you are a huge, reputed, organization (like Google), but there is a great challenge attracting (and keeping) top performers if you are smaller and not well known. As a New York Recruiter this is a challenge I encounter on a daily basis, particularly since I compete with other Recruiters in New York.
As per chief executives and industry recruiters, who were interviewed for this writeup, there are three main areas on which to consider: the quality and market condition of your product or service, environment, and salary.
Cutting Edge technology and a high perception of quality will attract top technical and design people, salespeople and support people, all for various reasons. Technology people relish the challenge of designing something new, plus they need ongoing chances for skill development to remain updated.
As for top sales people, a powerful product means they can earn bigger commissions, and their self-image are fulfilled by being on the cutting edge. And top support people are smart enough to know that a quality product makes everyone's job simpler, and it enables them to earn their bonus. For everyone, superior products will earn your company better profits, enabling more reinvestment in R&D, offering challenges and adventure for your technical people, and new and better product for your sales and marketing people.
The following factors play a large role in the option of an employee to join an organization:
Environmental factors - the corporate philosophy, the caliber of co-workers, the attitude of your management team, and your physical environment can be crucial in finding and retaining talented employees.
Corporate culture is one topic smaller companies have an edge - that "hell-bent-for-leather" approach makes it exciting and challenging to accept the job, and there are not much layers of bureaucracy people find so holding back. Real teamwork, where success is shared and the team asserts a common commitment, will draw other specialists.
Having a smart, talented staff will attract more smart, talented people. So will a friendly atmosphere which values the views of the rank-and-file along with open-management policies keeping the teams informed on the state-of-the-company.
A training plan, well thought out career paths and professional conference attendance are other ways to attract and keep people. Other small but noteworthy options include dress code, flexible work hours, telecommuting, offices with walls - these all help.
Last is the aspect of compensation. The big salary problem is no matter how much you pay; a competitor can offer a little bit more. So in terms of pay level itself, you just have to be at or close to your market value.
Equity - stock awards, options and equity-like phantom stock - is an impressive way for smaller companies to attract people at all levels. Plus, smaller companies can allot equity without the usual waiting period required by public and bigger companies.
What does all this mean in actual terms? Even though you are not a Manhattan recruiter, some of the suggestions in this article are difficult to implement than others, and some illustrate conditions you simply can't accomplish. Must you arrange for every item stated above? Of course not, but scientifically providing your people with the challenge to be their best, the opportunity to gain knowledge, the independence to be creative, the incentives to execute and produce, a feeling of ownership, and the esteem as professionals - these are the aspects that will make talented technical and sales people want to join your organization, and have them continue.
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