What does it take for your business to succeed? If you’ve got a good business plan, a high demand product, and the perfect target market, you might think success is inevitable. However, there is still one more crucial ingredient. You need the right people.
Unfortunately, getting good people isn’t as easy as it used to be. Over the last 10 years, the United States unemployment rate has steadily fallen to a 50-year low of 3.7%. Low unemployment gives applicants the freedom to be selective about which jobs they accept. Attracting the best talent in today’s tight job market can take more than offering starting bonuses and great perks. Today’s job seekers are interested in who you are as a business.
There is a lot of competition out there. If you hope to get the best people, it will take more than offering the right salary and benefits. You need to show them what your business is all about. They need to see your employer brand. How can you build an employer brand that sets you apart, and how can you showcase your employment value proposition to attract the right talent? Here are four tips that may help:
Get Specific About Your Mission
It’s hard to get excited about a generic mission statement like “Provide software solutions to our clients.” Something like “Build and deploy flexible, robust software solutions that meet the unique needs of nonprofit, charitable organizations” is specific, shows a passion for what you do as a business, and it’s something your potential employees can get behind and understand. Don't just tell your job seeker what she will do; show the human side to your business and tell them why it matters. According to Digital Marketing Specialist, Lorenz Esposito, the 2019 data collected by employer brand experts Potentialpark, revealed that two-thirds (63%) of candidates reported that companies career websites were often to general and did not show enough specific detail.
It’s About More Than a Paycheck
Obviously, the paycheck and benefits are very important to nearly every job seeker. However, that doesn’t mean he will always choose the highest salary. Being paid a fair salary for the work to be performed is important, and it will be a consideration in the decision-making process for the candidate. However, many applicants look beyond these and consider other opportunities like access to learning new skills, and guidance from mentors, along with having a defined career path in a company that appreciates, acknowledges and rewards them. And the best part is, these don’t need to be expensive programs or initiatives so organizations of any size can participate at some level.
Flexible Work that Works
High-speed Internet has become nearly ubiquitous in the United States. This makes it easier than ever to work from home. According to the job search site Flexjobs, there was a 159% increase in remote work from 2005 to 2017. The option to work from home, at least part of the time, is attractive to many workers. Remote work is one area where many industries have a tactical advantage. Offering candidates full-time and part-time flexible hours to work from home is one way to attract the best candidates to your door. Further, remote work is something Gen Z values highly, so as they are making their way into the workforce, the instances of requesting remote work will become more commonplace.
Highlight the Difference
There is no other business like yours. When you’re trying to attract the best talent, don’t focus on salary, benefits, and perks. Every company offers them, and sometimes it’s difficult to stand out in these areas. Instead, focus on what makes your business unique. People want to work for a company that cares about the same issues they do; they need to have alignment. Are you involved in your community or in a cause that benefits those who are underserved? Does your business offer employees paid time off to provide community services? Does your business incorporate “green” practices out of concern for the environment? Topics such as these are becoming increasingly important to job seekers and especially to new talent in the workforce.
While you may not have the budget of Google, the near universality of Facebook or the massive size of Apple, your business has something unique to offer to your customers and your job seekers.