As the World Reopens, Hiring and Retention Will Matter
Employee recruitment and retention are vital for any business. The turmoil caused by the coronavirus could make this even more critical. Businesses are attempting to rebound after a period of closing or dormancy but are facing openings and other staffing issues.
If your practice is ready to staff up, the timing might actually be good. With the U.S. unemployment rate pushing 15%, there are plenty of candidates to choose from. Businesses that are poised to take advantage have a rare opportunity to strengthen their teams.
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Here are a few ideas on how to attract and keep good employees.
Evaluate your brand
Many job hunters these days will only consider companies that align with their values. They will expect transparency in your policies, philosophy, and beliefs. They are more likely to communicate through social media and to contact former employees to gather insight. So, your practice’s brand is very important in conveying what it’s like to work in your office and what your values are, no matter how big or small your practice is. Make sure you are transmitting an image through social media, your physical office, your job listings, and other means, that best represent what your practice is about. You’ll be more likely to get candidates excited to work there. Here are a bunch of ideas on improving your brand. They could make a big difference in your hiring.
Recruit through social media
More and more companies are taking this approach and having success with it, particularly if they’re looking for millennials and candidates from younger generations. Use your preferred social media platform to identify attractive candidates, list job openings, and communicate with prospects. Before you do, though, make sure your company’s profile is updated and reflects the values of your practice.
Look beyond the big job boards
Your practice is a specialized business, so you might find it difficult finding great candidates on the major job boards like Monster or Indeed. But there are numerous niche job boards that might be more likely to bring you great candidates. Here’s a current list of top niche job boards sorted by industry, including health care.
Recruit from college campuses
New college graduates are facing an uncertain world these days, with fewer job options than they probably hoped for. Recruit them by listing openings on-campus online job boards, attending career fairs, and networking with relevant college professors and advisors who would be aware of qualified, emerging talent. You just might snag a prize employee who hasn’t explored the full market yet.
A Note About Retention
The number of employees who voluntarily quit their jobs, at least before the current economic crash, has never been higher, according to the U.S. Bureau of Labor Statistics. Studies show that replacing an employee costs six to nine months’ worth of salary on average, and employers are losing a trillion dollars a year on the problem.
Employee retention should be a priority for your practice. LinkedIn studied 32 million of its user-profiles and found three ideas for hanging on to your workers.
- Employees who change positions stay longer. Whether it was a promotion or a lateral change, workers found satisfaction with change. LinkedIn interpreted that as the employee feeling more engaged and seeing the job more as a career because of the change.
- Management matters. LinkedIn found much validity in the old truism that “employers don’t quit their jobs, they quit their managers.” Companies rated highly for “open and effective management” found significantly better retention, and those rated at the bottom for management had a lot of turnover. Your management style is a major factor in keeping your workers on board. Personally, I’ve never found “management” to be as powerful and impactful as being a leader, particularly, servant leadership. When we focus on being the best employer our staff has ever had, it’s a game-changer, instilling loyalty, commitment, and longevity.
- Empowerment matters, too. Workers want to feel like they are being heard, are respected, and are making a difference in your practice. If you can provide that, you will be rewarded with workers who are more engaged, and who stay with you. And, according to recent research published in the Harvard Business Review, companies who empower their employees also inspire more creativity.
Uncertainty these days is rampant, but here’s hoping the ideas above are hitting you at just the right time, with your practice ready to gear up and an economy ready to turn upward for the foreseeable future.
