“Recruitment is a nightmare!” I heard this phrase from both sides of the story – clients who cannot fill that blessed role which has been open for more than 3 months, and candidates who want to change jobs but cannot seem to find that position which strikes the right balance between seniority and remuneration package.
Majority of the clients I assist throughout the year admit to have struggled to fill in at least 1 vacancy in the past 6 months, independent of the fact whether they had successfully implemented a great market reach strategy or whether they received a good number of applications. As they say, quality is more important than quantity in such cases and at the end of the day you “only” need one perfect applicant to fill in a vacant role.
What if I had to tell you that in most cases, clients would have been already in possession of the CV needed without realising.
It wouldn’t be in the unread section of their inbox. Actually, it might not even be in their inbox, but in their archived emails by now. What if I told you that in most cases, clients would have already managed to successfully hire that long sought-after profile but would have been 3 months too late to realise that they had him in their team and have now missed out on him/her. What if I told you that in most cases, the ideal candidate is actually the employee who handed in their resignation and whom clients are now seeking to replace.
In modern days, recruitment has admittedly become an employee’s market. No one will wait till the end of year evaluation to start thinking about a move. Some of them might not even be bothered to raise an issue internally, especially if they had already tried a couple of times in vain.
Don’t get me wrong – a healthy staff turnover can actually help the business grow, but more often than not it is the good ones who tend to leave first. It is not always a matter of salary and it is not always a matter of being approached by a recruiter. Most of the candidates who approach me on a weekly basis tend to have that sense of frustration or guilt for having to leave a job or a firm in which they have invested a lot of time and energy, but which they no longer consider as their second home.
Retention is key. It gives a sense of stability and can help the business make it to the next level by having employees climbing up the ladder internally rather than externally through competition. It also motivates the juniors to look up to their seniors and gives them visibility for career progression opportunities. Retaining employees doesn’t necessary mean offering them a higher salary. Honestly, those who stay on just because they are motivated by a higher salary are probably the ones whom I would suggest you replace.
Retention is successful when employees are motivated and encouraged to give their 100% in their unique way. We are all different in our own way and we all perform differently under diverse circumstances. In most cases, majority of the benefits which are most valued by job seekers tend to be free or have a low cost – such as flexible hours, work from home options, education allowance for ongoing training, extra days of vacation leave.
Work environments which offer flexibility or remote work options have proven to improve work-life balance of its employees. Such options have at times proven to influence the decision of job seekers when choosing a low paying job with such benefits over a high-paying job with fewer benefits. Furthermore, such benefits are affordable perks for companies that want to offer appealing benefits but can’t afford expensive salary packages. They often save money by lowering overhead costs and indirectly sends an important message about a company’s culture – employees are treated as individuals who can be trusted to responsibly manage their workload regardless of where they work from.
Remember, you cannot stop employees from leaving unless you have a plan to make them stay!