Two major challenges for HR today – hiring the right & retaining the right – this becomes a major challenge in organizations of all shapes and sizes because lets face the ground reality … its not always and only about money … and this is a universal fact.
Here is how non-monetary rewards be used attract and retain the right talent:
Re-think the hiring cycle: Recruiting no longer ends by signing up the offer letter – its only a milestone towards hiring … setting up a start date. Many a times, candidates keep their hunt going despite signing off the offer letter. It is essential, thus, to keep them engaged from the time of signing off the letter to the joining – and even thereafter. These are rather easy pick for recruiters because of readily shortened notice period (in case of experienced individuals). Know this reality and plan for it – it’s a fact that cannot be avoided/ignored.
Make them feel good about their decision: Make them feel part of your team as soon as they sign-up. Creating a fun-filled package – may be including a wearable schwag such as a t-shirt – they must think of you … Send a welcome card – something that says “We are looking forward to seeing you on board …” – make them feel value and connection.
Account Manager – Employees: Recent hierarchal changes have turned the managers and assistant managers of HR into business partner concepts. And the account manager concept has been in sales since decades. Lets evolve this into an Account Manager for New Hires that develops and maintains relationships. Invite them for company interaction prior to joining. In case of frequent hiring, have one day of the month where there is an informal interaction between existing and forthcoming employees. This makes relationships more and more meaningful.
Spread the Love: Make sure the candidate feels connected to multiple individuals within the organization – not just to the recruiter, but also to the hiring manager, future team members and executives. The more personal connections prospects have, the harder it will be for him or her to seriously consider reneging.
The Settling Phase: Moving is tough, whether it be down the street or especially across the country or to a new country. If they don’t know the area, have an employee or hired hand take them around town to help them figure out where they might want to live. If you have the resources, hire a full-service moving company plus a broker to help fresh hires find housing and consider helping with advances for rent and security deposits.
If you don’t have the resources for a broker, you can be scrappy like us, and ask a junior employee to search housing listings and actually visit properties. The more seamless and the less stressful the move, the happier the employees will be.
Stay in touch: Stay in contact with candidates who have turned down the offer is always a good idea for several reasons; they might not be satisfied with their decision OR they might be considering to revert rejection OR they may have talent in their pool – most significantly, good relationship building may make them re-think their decision.
It’s a brutal market for companies trying to hire top talent. You’ve worked too hard to win these folks just to lose them before they even begin.
– Muntazir Haider
The writer is a senior business consultant, corporate trainer and entrepreneur. email@example.com