Thought Leadership How to Attract and Retain Talent Andrea Berish Jul 6, 2022 7 mins read Blog Thought Leadership How to Attract and Retain Talent Many HR and talent acquisition professionals have experienced the biggest shifts in hiring over the last 2.5 years. As the pendulum shifted from mass layoffs in early 2020 through an era coined “The Great Resignation,” which caused a candidate market like many of us have never experienced and now back again, many of us had to re-think our recruitment strategies to attract and retain talent. The “Covid era” has created a huge shift in the way companies work and how they attract and retain talent. Regardless of whether or not we are headed towards a recession, one thing remains the same. If you want to attract great talent, it’s time to revamp your recruitment. So, what are candidates looking for? I’m so glad you asked… Strong employer value proposition (EVP) This is an all-encompassing term that really sums up the culture of your workplace. Having a compelling employer value proposition (EVP) is essential to attracting the right talent. We are seeing that as candidates have choices in where they can work, they are really looking for an organization that has a culture and purpose that resonates with them. At Wrk, one of the core values that we associate with our EVP is our commitment to transparency and over-communication. Wrk values an open feedback loop where everyone’s voice is heard. In an ever-changing world with a lot of uncertainty, we facilitate information sharing with a weekly “All-Hands” virtual meeting, as well as a dashboard on the employee portal that outlines what each leader is prioritizing for the week, and how we are measuring up to those goals. We invite each and every employee to hold our leaders accountable and ask as many questions as they like. Culture and purpose As Gen Z enters the workforce, they are challenging the work mentality from “We are lucky to have a job and paycheck,” to “Why should I choose to work for you?” They want to know where they can add value and make a difference in this ever-changing world. A company that has a true purpose, whose aim is to improve the lives of others, really reaches talent. In a world of turmoil and change, knowing you are making a difference with your work is a true driver. Gen Z is also looking for authenticity, transparency, and accountability as key company values. Continuous professional development and growth Professional development is vital to employee growth and retention, not to mention engagement. According to a report from the Society for Human Resource Management, employees with access to professional development opportunities are 15% more engaged in their jobs, with a 34% higher retention rate. Over time, boredom at work can become common, which can lead to burnout. Ensuring employees have access to continuous Learning & Development opportunities can counteract the boredom and allow employees to acquire new skills that can encourage them to expand their roles to other areas, which in turn can lead to promotions and growth opportunities within your organization. Continuous growth trajectories for employees can also increase loyalty. At Wrk, we support personal and professional development for employees. To name just a few of our initiatives, employees are encouraged to get involved in areas outside of their designated roles in the organization if they wish. Our team is also encouraged to take risks and “think outside of the box” to solve problems, as we understand there typically isn’t just 1 solution. We have a Learning & Development structure through which new and long-standing employees receive unique training, members of our team host lunch & learn sessions to share knowledge, and we regularly host special guest speakers in our all-hands meetings to provide expertise on specific topics. Diversity & Inclusion We have heard a lot about Diversity & Inclusion in the last few years. This initiative is more than just buzz words. With remote work making hiring people all over the world so much easier, there is no excuse for not having a diverse workforce where opinions, experiences, and thoughts can come together without limitations. Candidates are looking for companies that truly walk the walk, where equality is part of their DNA and opportunities for growth and career advancement are open to all. Competitive compensation packages with extra perks I think we can all agree that salaries have never been such a hot topic. With many industries or roles seeing salaries bump up compared to pre-pandemic levels, companies are scrambling to stay competitive. On top of that, the war on talent just went global and giants like Amazon and Meta have opened offices everywhere and their pocket books are deep. There is a lot of speculation that the candidate market is cooling off, just like the housing market. However, if you want to be an employer of choice and get the best candidates, it’s always best to pay your employees competitively. When a new hire feels valued, they will pay you back tenfold with the great work they do and the ambassadors they become for your organization. Above compensation, the pandemic has opened people’s eyes to the need for personal time. Candidates are looking for ample flexibility and time off. If you want to go above and beyond in securing great talent, and keeping your employees engaged and happy, extra perks go a long way. Here are a few ideas we’ve implemented ourselves at Wrk. Unlimited paid time off policies Home office stipends Flex hours policies Off-site activities (when safety permits) Lunch & Learn sessions Mentorship programs Remote or hybrid COVID-19 has triggered a huge shift in the way people work. With many of us moving to a remote or hybrid model almost overnight, people have opened their eyes to the idea of flexibility and work/ life balance. While not everyone wants to work from home permanently, many people do. Of the ones who do want some on-site interaction, most want it to remain flexible. They call the shots when and how often they come in. And why not? We have all proven the work can be done just as well if not better when we are at home with fewer distractions. As gas prices rise, and the uncertainty of the future of this pandemic looms, many candidates are basing part of their decisions on that flexibility. At Wrk we are a remote-first environment. Our employees enjoy the luxury of working from anywhere they choose at the hours that work best for them. We encourage open communication via tools like Slack and Donut. Our team doesn’t need to wrestle with morning traffic or long commutes. People at Wrk are engaged and ready to give their 100% as they are trusted to deliver their best work in the way that works best for them. Looking ahead to attract and retain talent We are still living in uncertain times, and we very well may be on the cusp of difficult times ahead. However, one thing will remain the same. Talented people are hard to come by. When you find one, you can be sure your competitors have their eye on them as well. Regardless of the market, if you want your business to thrive, invest in your people. Happy employees will always take care of your clients. Want to learn more about how you can become part of a unique and talented team with a commitment to flexibility and transparency? Together, we are building and redefining the future of work. Read our Company Culture blogs and visit our Careers page to explore our current opportunities! Share This Article Facebook Twitter LinkedIn Email