One of the biggest challenges that most employers – large and small – are encountering is the ability to attract and retain top talent. In many cases, top applicants are on the market for just a few days before finding their perfect opportunity. With an increasing number of job opportunities and a decreasing pool of qualified candidates, it is more important than ever to differentiate your company and offer attractive incentives to potential employees. With a few key strategies, you can increase your chances of securing an ideal candidate and stay ahead of the competition.

It is important to recognise that we are currently in a candidate-driven market. This means that candidates have multiple job opportunities to choose from and they have the power to be selective in their decision-making process. As a result, companies need to put in extra effort to attract and retain top talent.

Leveraging technology can help you reach a wide pool of candidates and streamline the hiring process. Consider using applicant tracking systems (ATS) to manage applications and resumes, video conferencing tools to conduct remote interviews, and social media platforms to promote job postings and engage with potential candidates.

Flexibility in the workplace is no longer enough to attract top talent. Candidates are looking for more than just a flexible work schedule; they want an opportunity to work in an environment that will provide learning and development opportunities, a work-life balance, and an organisation that puts their people first, with values aligned to their own. Companies need to showcase these elements to potential employees to entice them to join their team.

One of the key things candidates are looking for is an opportunity to learn and develop their skills. Companies that invest in their employees’ growth are more likely to attract and retain top talent. Offering training and development opportunities can help employees improve their skills, gain new perspectives, and feel valued by their employer. In addition, providing clear career pathways can help to keep employees engaged and motivated to work towards their goals.

Candidates today are looking for a healthy work-life balance. Employers that provide flexible work arrangements, such as working from home, a 4-day workweek or part-time work options can be attractive to candidates. Employers should also prioritise mental and physical wellness by providing wellness programs or fitness classes. LinkedIn research found one in three Australian workers would consider taking a small pay cut of between 2 per cent and 5 per cent if the job offered better work-life balance, more enjoyable work or a greater sense of fulfilment. The trend for some professionals to prioritise happiness over pay has intensified because of the shift to remote work caused by the coronavirus pandemic.

Many candidates are looking for organisations that prioritise their people over profits. Companies that value their employees are more likely to attract candidates that align with their values. Organisations that prioritise employee well-being, pay fairly and offer comprehensive benefits packages are more likely to retain employees. Moreover, when the focus is on people over profit, employers and employees are more likely to be accountable and transparent in their business dealings. An organisation that is known as trustworthy, honest and transparent is also more likely to build loyalty among key stakeholders. Putting people over profit creates a cycle that results in customers and the communities in which you do business choosing you over your competitors. As a trustworthy brand, you are also able to build powerful business relationships that can take your business to an even greater level of success.

With the cost of living front and centre of everyone’s mind, offering competitive remuneration packages is crucial to attracting top talent. Candidates are more likely to consider a job offer if they feel their compensation is fair and competitive. It’s important for employers to research industry standards and offer packages that reflect the value of their employees.

Mansfield & Co Recruitment in South Australia is here to assist organisations in finding and securing the ideal candidate. With years of experience in matching the right person to the right job, they can help businesses stand out from the competition and attract top talent. Do you have a permanent vacancy in your team? An Executive or temp requirement? Our award-winning recruitment team will help you attract and recruit talent to ensure your organisation stays ahead of the competition. Are you looking to hire? Go to our website to find out the roles we specialise in. You can also check out our candidate profiles and Facebook page. To book an in-person coffee meeting with Mansfield and Co director Melanie Mansfield , click here. If you have a question for Melanie Mansfield and her team , phone 08 8463 1198 or email admin@mansfieldandco.com.au

https://www.afr.com/work-and-careers/careers/would-you-take-a-pay-cut-for-better-work-life-balance-20220801-p5b666

Tips to Secure Top Talent in a Highly Competitive Job Market

Mansfield & Co Recruitment