Unemployment rates have steadily decreased from 8.8 just five years ago (as of Jan. 2012) to 4.9 (as of Dec. 2016). What does this mean for employers looking to hire? Fewer options when it comes to qualified candidates.
So what’s an employer to do? - Become an employer of choice.
You need to ask yourself, why would someone want to come work for you instead of staying where they are or accepting a position with some other company? Do you offer stability? Is there opportunity for challenge and growth? Are you employee-friendly? Do your organization’s mission and goals attract the kind of people you most want on your team?
We've listed the things that most employees want so that you can attract more qualified candidates and keep them.
1. What good employees want more than anything else is the opportunity to make a difference. They want a sense of purpose and the ability to contribute to the success of the organization.
2. While money is not always a key motivator, everyone wants to be fairly compensated and rewarded for their efforts. Salaries, bonuses and benefits are important. Providing people with the right level of compensation also relives them of worry, allowing them to focus and engage at work.
3. Employees want to be productive but they also want more freedom over how they perform their work and when they perform their work.
4. Employees want your attention. Checking in with them regularly to find out how things are going shows you value them. Listening to their ideas will typically net very positive results.
5. Employees want communication and transparency. Employees should be aware of where the company’s going, what level of success the company is achieving and how they are contributing.
Sometimes, it is worth considering the use of outside recruiters. The best firms have the knowledge and expertise to source a candidate pool and narrow it down to those who would be the right fit. Expect to pay anywhere between 17 and 35% of the cost of the new hire's annual salary depending on the firm, the position and the location. For many positions and industries the cost for your staff’s time, lost revenue while the position remains unfilled and the possibility of a failed search, all make the fee worth it. When you are ready to meet the selected candidates, most of the work, other than a personal interview, has already been completed for you by those who have the knowledge and experience to get the job done.