In a world where the demand for talent has never been so fierce, fighting to attract and retain top technology and digital talent is not just smart - it's essential.
But how can you stand out in this competitive market? Even if you get your foot in the door, how do you keep top talent from leaving when they find out about an offer from a competitor?
In this article, we will look at the challenges that are in front of you, how to tackle them and what strategies you can adopt.
Everyone talks about a 'war for talent'. But what does this mean? The war is in most cases, about people. Having the best technology and digital talent can make or break your company's success.
Hiring the wrong person costs you time and money – it's often estimated that on average, losing an employee costs anywhere from 50% to 60% of their salary to replace them.
So when you hire the right one, they pay you back not only with their skills, but also by helping to accelerate growth – making them worth much more than what you paid for them.
Every business wants to attract top talent - companies that can do so, gain a competitive advantage over their competition. Though many will tell you that it comes down to offering higher salaries or better benefits, in fact hiring the best technology and digital talent comes down to fighting harder than your competitors.
It means going above and beyond when considering candidates - making sure you're putting yourself ahead of every other company on the market.
Doing more doesn't necessarily mean spending more. The challenge is not always in what you are offering, but in the way, you approach talent. How do they find out about your company?
Most people don't get an answer to this question – because no one asks. There's a tendency of drawing the line at advertising on job boards and just hoping for the best.
But if you want to attract top technology and digital talent, you need to go the extra mile. You have to make sure your competitors are not getting their foot in the door first – which means going deeper than just relying on these platforms as valuable sources of information.
What works better than posting jobs on job sites? Targeting them directly through social media and content marketing channels such as Linkedin, Facebook, Twitter, and blogging sites makes the approach much more personable.
This means that there’s a higher chance of success.
And that's where it gets interesting – because it means building a profile (and your brand) to attract top talent.
Leading companies have understood this and they're doing more than simply posting jobs online. They're using every channel available to them to let technology and digital candidates know about their company - in fact, here are 5 ways they are competing in the talent war.
By taking this approach, you can attract top talent and keep them in your company.
What it boils down to is understanding the best way potential candidates find out about you, and doing everything in your power to make sure your company stands out.
Then, once you get the talent you want, you need to keep them. This means constant training and deployments, as well as investing in the team.
You want to avoid losing top talent by making an effort to focus on internal career development opportunities (including increasing salaries when possible), employee recognition ('employee of the month'), and granting employees personal freedom (with clear boundaries and expectations) – all leading to happier employees that deliver top-notch performance.
The race for talent has started and there is no end in sight - you're either on track or falling behind. And this is a race that only ends when there's no one left to fight you for the top technology and digital candidates.
Be smart about it – prepare and fight harder than ever before. It will pay off when you finally get the top talent you were looking for.
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