The COVID-19 pandemic changed our world as we know it. The world moved indoors as work-from-home settings became the new norm. More and more people found themselves at risk of becoming jobless as layoffs, job redundancies, and cost-cutting became rampant. It was an uncertain time when job-seekers were forced to accept any job offer they got, even if it did not align with their career goals.
But post-pandemic, there has been a massive shift. Australia faced an immense shortage of workers, partly because of the border closures limiting migrant students and workers and partly because of a sudden surge in resource demand. The existing workforce could no longer keep up with the demand, and we ended up in the situation we are in today: more available jobs than workers are looking for them.
It wouldn’t be amiss to say that today, it’s a job seeker’s market. Candidates now have the power to leverage higher salaries, better working arrangements and more benefits. Not that it was ever easy to begin with, but attracting high-performing talent has become even more difficult.
If you’re struggling with finding the right talent for your open positions, Calibre Global Search’s business advisory services suggest the following options:
Attracting High-Performing Talent
To attract high-performing talent, there are several things you can do. First, you should make sure you have a strong employer brand and a good reputation. This can help attract top candidates looking for a company with a good culture and a positive work environment.
Second, you should offer competitive compensation and benefits packages. This will help attract top talent looking for opportunities that offer good pay and perks.
Finally, you should make sure you have a clear and compelling job description that outlines the responsibilities and requirements of the position and the opportunities for growth and advancement within the company. This will help attract high-performing candidates looking for challenging and rewarding work. Let’s look at each of these in more detail.
- Write good job descriptions
Writing good job descriptions is essential to attract top talent because it helps to clearly communicate a job’s responsibilities, requirements and expectations to potential candidates. It also provides candidates insight into what the job entails, and what qualifications and experience are required to be successful in the role. This can help ensure that people who apply for the job are qualified and well-suited to the position, which can ultimately save time and resources for the company.
Some areas to focus on when writing your job description are the tone, format and content. All three should be professional but be a reflection of your company culture. Additionally, a good job description can help to differentiate a company from its competitors and make it more attractive to potential candidates.
- Present ample opportunities for growth
What sets top-performing talent apart is their thirst for improvement, challenging themselves and development opportunities. By offering growth opportunities, companies can show employees that there is a clear path for them to follow in their careers and that their contributions and hard work will be recognised and rewarded. This can help to create a positive and supportive work environment, which can be a key factor in attracting and retaining top talent.
- Have smart hiring processes in place
A survey by BambooHR revealed that 31% of employees leave their new jobs within the first six months, of which 68% leave within the first three months. Selecting the right workers for the job can help reduce these turnover rates.
A well-designed hiring process can help streamline the recruitment process and make it more efficient, saving time and resources for the company. Additionally, a good hiring process can help create a positive candidate experience, which can be crucial for attracting top talent. Many people are attracted to companies with a reputation for treating candidates fairly and respectfully. A good hiring process can help to demonstrate this to potential candidates. Finally, a good hiring process can help the company make well-informed hiring decisions that align with its goals and objectives.
- Offer competitive compensation
Today’s employee is savvy and will not accept compensation less than what they are worth. Although work culture, job satisfaction, work-life balance and growth opportunities are important, for most of the workforce, salary is the top factor when considering an offer from a company.
If you hope to attract and retain the highest-performing talent, be prepared to pay them what they are worth. They have likely spent years honing their skills and becoming experts at what they do, and so are likely to accept offers from organisations willing to compensate them for their expertise. Another thing to consider is that any organisation hoping to retain their talent needs to review its employees’ wages at least once every year for inflation and performance-based raises.
How Calibre Global Search Can Help
If you’re looking for firms specialising in finance recruitment in Sydney, Calibre Global Search’s here. A leading global recruitment search firm, Calibre Global Search can help recruit and build a high-performing finance team for your organisation. Our recruiters are also qualified accountants and have the necessary expertise to back up their solutions. We also offer business advisory services for all aspects of your business to ensure your organisation has the highest chances of success.