Attracting And Keeping Competent Employees
Good human resources are hard to find. It may be easy to fill empty positions if you are a huge, reputed, firm (like Google), but there is a tremendous challenge attracting (and keeping) best performers if you are smaller and less well known. As a New York Recruiter this is a challenge I deal with 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 report, there are three main areas on which to focus: the quality and market condition of your product or service, environment, and remuneration.
Leading edge technology and a high vision of quality will lure top technical and design people, salespeople and support people, all for a variety of reasons. Technology people relish the challenge of designing something new, plus they need ongoing chances for skill improvement to remain fresh.
As for top sales people, a powerful product means they can earn bigger commissions, and their self-esteem are fulfilled by being on the leading edge. And top support people are sharp enough to know that a quality product makes everyone's job easier, and it enables them to earn their rewards. 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 additional and better product for your sales and marketing team.
The following factors play a large role in the option of an employee to join a firm:
Environmental factors - the corporate culture, the caliber of co-workers, the outlook 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 fewer layers of bureaucracy people find so holding back. Real teamwork, where success is shared and the team emphasizes a common commitment, will draw other top professionals.
Having an intelligent, talented staff will captivate more smart, talented people. So will a mutually respectful 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 more 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 issue of compensation. The big salary problem is regardless of how much you pay; a competitor can pay 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 grants, options and equity-like phantom stock - is an impressive way for smaller companies to enchant people at all levels. Plus, smaller companies can grant equity without the normal waiting period required by public and larger 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 describe conditions you simply can't accomplish. Must you arrange for every item stated above? Of course not, but systematically providing your employees with the challenge to be their best, the opportunity to learn, the choice 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 top technical and sales people want to join your organization, and have them continue.
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