Remote Work

Reasons you may loose potential talent to competition

By January 30, 2018 No Comments

I still remember the times when it was a candidate who had to do his best to be hired in a company of his dreams. Back then, there were a lot of aspirants per one position, so you had to put extreme effort to be the chosen one and, at the same time, have a little bit of luck. Nowadays, the situation turned around. Now it is the employer who needs to search for a good candidate for quite a long time until they hire the most appropriate one. It’s not enough just to post a job offer and wait. Your company need to have some specific features to be able to attract the best talents. And even if you give a candidate an incredible offer (in your opinion), he might not accept it and go to your competitor. Have you ever wondered why? Here you may find some answers…

Weak benefits

As I said, times are changing, so it’s not enough to offer a good payment and demand immediate results from an employee. People are looking for attractive benefits in their future workplaces. Remember that your worker is not just your ”mercenary” whom you pay salary, but also your asset. Many companies make a terrible mistake when they try to save money by cutting off the employees benefits. This make a company much less competitive and attractive to work in. Candidates, except for a good salary, are also looking for something like medical care, medical insurances, regular wage raises, or vacation time. If you do offer these perks, make sure you mention them in the job ad and interview, as well as any retirement savings you offer.

 

Noncompetitive wages

Make sure you know what the market offers and how does your salary package presents against it. Ensure it’s at least at the same level as your competitors wages. If you regularly hire for a position, check if you’re still paying within the right range for that occupation and location, since wages can change from one year, or even quarter, to the next. You need to be up to date with any change concerning salary. Otherwise you may have ended offering much less than the market does.

 

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Stupid interview questions

Seems like it’s not that consequential, but believe me it is. Many recruiters are asking outlandish questions just because they’re curious how the candidates will respond. Terrible waste of time. You should realize what is actually the point of asking weird and outrageous questions? Will that allure candidates? Instead, focus on behavioral types of questions that will help you determine whether the interviewee is a good match for you and vice versa.

 

Inflexibility

The possibility to offer a candidate flexible working conditions appears to be the second most required factor while looking for the job. The standard 9-5 system is on the home stretch, and the companies that want to attract best talents have to have a flexible work policy in place. With the ever-evolving technology, it’s easiest than ever to implement workplace flexibility. Many benefits coming from it have already been described in previous posts (e.g. get back to ” Why remote work is important for entrepreneurs”).

 

No employee investment

Like mentioned above, you cannot just pay and demand. Employees also have the right to expect. And they do so. If you’re focused only on hiring new people and don’t really care or forget about the current employees, you may face a retention issue. eople leave due to pay issues, but they also may flee to a competitor because they see no future in your company. Thus, it’s essential to promote from within and invest in training your current employees, rather than hire from outside.

 

Those are not all the reasons you may loose top talents. Still, the ones mentioned above, are essential to me, and I wouldn’t go to any company that fails to fulfil all those requirements. What are your thoughts on the raised topic? What else would you add to the list? As always, you’re more than welcome to share your remarks!

 

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