As businesses transform themselves to be future-facing, how can they find the right candidates?
In Part 1, we discussed how candidates can understand their career intent better to accelerate their job search process and align their needs to land a role in a company suited for them. We will now address how companies can attract the right or ideal candidate profiles of their choice.
Gone are the days a company or brand’s name is enough to attract candidates.
Companies now have to develop robust employer branding strategies to attract and retain top talent that will propel their company’s future.
Since we started Cogs in 2004, we observed that companies who make their organisation’s mission and values the focus of their hiring by attracting and employing value-based employees perform better in the long run.
They witnessed higher employee engagement, consistently positive reviews on Glassdoor and better retention rates as compared to industry peers. These are some of the benefits of hiring purpose-oriented employees.
These are also echoed in Imperative’s findings. According to their study, value-based employees are:
- 54 percent more likely to stay at a company for 5-plus years
- 30 percent more likely to be high performers
- 69 percent more likely to be Promoters on Bain & Company’s eNPS* scale, which measures employee engagement and loyalty
So, how do we spot value-based job seekers?
They desire to establish (deeper) connections at work. They prioritise your company’s values and mission over money and status and they tend to focus on these topics during screening and interviews.
How do we attract them?
- Stop thinking functionally and start adopting soft skill metrics as a key indicator in your hiring process.
- Build purpose in your employer brand and onboarding and publicise it.
- Educate and influence the leaders and ambassadors of your business to your brand values and mission.
- Be authentic, this attracts value-based employees.
What can you do for functional-based job seekers?
Don’t neglect this group. They are equally valuable contributors and high performers. Not everyone can be a purposeful-oriented candidate. Experience and value-based systems are unique to individuals and shape their reasons for working.
- Find out if your compensation and benefits are up-to-date? View the latest salary guidelines here.
- Assess your current progression plan, does it attract and promote top talents from within?
- Sponsor or create resources for employees to upskill themselves.
- Benchmark your workplace environment to that of your competitors.
This post shares a few of our thoughts. To discuss this post more in detail and how to work on your talent acquisition plans, contact your local Cogs office.
- eNPS: Employee Net Promoter System