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Wednesday 22nd November 2017 -

The rules of attraction

November 13, 2017

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Type: Advice for Businesses, Financial Planning, Latest Blogs, Trending

 

Can you attract the best talent to come and work for your organisation? Should you pay them more than the competition? Should you try to poach them from the competition? Are recruiter fees worth the outlay?

 

Gone are the days of indentured servitude, though it might not feel like it for some. So, the chances are that every business that employs people will have had to take a look at these sorts of questions at some point or another.

 

The unemployment rates in the UK are currently 4.3% which, outside some smaller or Communist nations, is lower than the vast majority of places. Even those cosy Scandinavians with their wood chopping skills are slightly higher.

 

So, on the face of it we have a fairly settled workforce in which most people over the age of 16 are in gainful employment or full-time education. Except the real picture is slightly different despite statistics and all their lies.

 

But how do you attract people in the first place and more importantly what can you do to attract the best people that can really help you to take your business forward?

 

As always it comes down to having a strategy. Do you know what it costs to recruit for the position you need to fill? Do you need a recruiter involved? Are you centrally located with good transport links? Or are you in wilds somewhere with a transportation infrastructure that uses rope bridges and vines? What do you actually want or need? What do the people you are trying to attract want or need?

 

Employers have to understand these factors and many others and base a recruitment plan around them. If you are in a particularly competitive sector then you will need to put something in place that allows you to stand out from the crowd and as I’ve said before, that doesn’t always just mean cash.

 

It comes as a surprise to some companies that their employees talk about them. They will talk about the good things that they do but they will shout about the bad stuff. Your current employees are the best advertising and referral source that you can get as an employer. If you look after them then people will hear about it and you will become that hallowed being. “The Employer of Choice” where people come to you.

 

Attraction is an ephemeral thing and is certainly subjective. Just because someone looks good on paper doesn’t mean that they actually are. There are frogs to kiss. Companies need to give themselves the best opportunity possible to find the right person and certainly don’t want to be hanging around when the lights come back on in a school disco kind of way because your competitors got there first.

 

To attract the best people to a company, the company has to be attractive to the best people and some of the best people are already there. It’s not complicated but if your offering isn’t engaging enough to retain the people that you have then it’s probably not engaging enough to bring the best people through the door in the first place so by addressing one thing you can actually deal with the other.

 

And just be yourself. Attraction is mutual after all.

 

If you would like to discuss recruitment and retention in more detail, or you would like to speak with a member of our team, please contact Andrew Selby or call 01772 821021 to be put in contact with a menmber of our Financial Planning team.

 

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