A strong successful team is at the heart of small businesses. When searching for the best talent to enhance your team, the recruiting process takes a significant investment of time and resources. Therefore, it is important for your small business to stand out in the competitive job market and attract the right candidates.
Recruiting and retaining the best employees for the role is crucial. Millennials are expected to form 50% of the global workforce by 2020. So, it is even more important to understand what this generation is looking for and adapt your recruiting strategy to attract the best talent. The last thing you want is to go through the whole process again a few months down the line.
The increasing number of millennials in the workforce has introduced new trends and challenges for recruiters. Millennials, more so than previous generations, are open to changing to a new job. An Education Advisory Board study found they are likely to have up to 20 jobs in their lifetime. Retaining employees is becoming even more of a challenge, however, get it right and they can be a real asset to your team.
What do you need to know in order to recruit and retain the best workers from today’s talented pool of job seekers?
Refine Your Recruitment Process
A major irritation for most job seekers is minimal or vague job descriptions and lack of communication confirming applications. To attract the best and most appropriate candidates a clear understanding of what your small business needs is essential.
Once you have defined the job and the type of candidate that will fit with your business, you can tailor the job description accordingly. This will help make the whole recruitment process easier. It will also help save time preventing fruitless interviews with unsuitable candidates.
A quality job description and fully understanding what is needed will help you find the right candidates to start with. You can then choose the best person for the role. Keeping interviews to below 5 per new hire will speed up the recruitment process. Quality over quantity is key.
The recruitment strategy and the experience of potential candidates is important as well.
Millennials tend to judge a company’s culture on the personal attention they receive during the recruitment process. Surveys show that 4 out of 5 candidates take the interview experience as an indication of how a business values its employees. Therefore, focusing on great candidate care and good recruitment practices is beneficial for all involved.
Understand What Job Seekers Want
Just as the job market trends are evolving the expectations of job seekers is also evolving. Millennials often get a bad reputation of being ‘flaky’. While they are much more likely to change jobs than older generations, this is more down to ambition and career progression goals than disloyalty or flakiness.
87% of Millennials agree that development is important in a job. More than 50% prioritize career progression first and foremost. Other important factors for applicants include positive company culture, flexible work options, access to technology and compatible management styles.
The demand for flexibility and more freedom at work has led to a rise in the gig economy. Millennials have embraced freelance and remote work opportunities much more so than previous generations. Employee engagement is very important for small businesses today. Employees that are happy and engaged at work are much more productive and likely to stay in the business.
More businesses are now investing in employee development and encouraging a better work/life balance. Focusing on providing a positive work culture, employee benefits, and a creative, flexible work environment can help motivate employees and increase productivity. Investing in staff shows you value your team and it creates a positive culture, which is attractive for potential new candidates applying for work.
Technology plays a major role in the recruitment process today. Both recruiters and job seekers use social media and online networks. 98% of recruiters use LinkedIn as a source of potential applicants. Social media is also important with many millennials checking business’ social media channels or websites when searching for jobs.
Advertising online and using social media enables you to recruit from a larger talent pool and reach the best candidates. Optimizing your website and job ads for mobile services will connect you to an even wider audience as many potential candidates browse jobs on their phones.
It is not only useful during the recruitment stage though. The advancements in technology have completely transformed the workplace. Access to technology is expected and wanted by new candidates in the job market. Many millennials believe it can make them more efficient at work. Embracing new trends and innovative technological solutions can keep your business up to date and help it to stand out from the competition.
Stand Out from The Crowd with Modern Incentives
Businesses are moving away from the traditional corporate office structure and embracing more flexibility in the workplace. Understanding what the modern workforce wants and focusing on providing a positive work culture, and a constructive, flexible work environment will help your business recruit quality employees.
Millennials are ambitious and prioritize career progression and development. They value results and look for career advancement much quicker than previous generations. Taking this into account and providing opportunities for staff development, training, and career progression within the business will help retain staff and benefit the whole team.
Along with career development, other incentives that can attract and keep employees include:
- Comprehensive benefits packages – not just the usual health insurance. Consider your business culture and the interests of your team to offer perks such as social activities, training or discounts
- Flexible work arrangements – flexible schedules, work from home options, vacation days or an open office policy are all options
- Access to technology in the office
- Workspaces that encourage creativity and collaboration
- Positive work culture
- Personal attention to staff and good candidate experience during recruitment
Make Recruiting Easy
Employees from Gen-X to Millennials are also concerned with the bigger picture, including the business values and customer experience. Lack of confidence in the business or alignment with its values can de-motivate employees and deter prospective candidates. It is important to provide quality service and stay true to your business ideals. This will in turn help create and maintain a positive company culture that benefits the staff and the business.
Successful recruitment begins with understanding your needs and the needs of potential candidates. Keeping an open mind during the recruitment process, embracing technology and staying on top of current trends will help you channel your resources effectively to find the right candidates. Providing attractive compensation packages and a productive, flexible work environment will help you appeal to the job seekers of today.