It’s no surprise that, for many, keeping hold of their employees and focusing on employee retention is becoming a number one priority. However, in 2022, as the race for tech talent tightens and there are consequently more opportunities, attrition will be just as big of an issue as the skills gap. As a result, there will be more temptation for employees to leave, and if your company hasn’t addressed any problems, that could be motivation to push them out of the door. Employee retention will become almost as important to your people strategy as attracting candidates because businesses will need to hold onto their people if they ever wish to grow. Otherwise, you’re stuck in a continuous recruitment cycle.
Now everyone realises the importance of employer brand, it will take a lot more to stand out. Every business out there will claim to be a great employer. It would be stupid to say they aren’t if they wish to attract new talent. Plus, a lot of benefits like flexible working are now taken as standard. They’re not going to help you to stand out in the race for talent. Therefore, when it comes to communicating employer brands, companies who wish to attract the best talent will have to think outside of the box, tailor their messaging to resonate with the right talent and get loud with the aspects that make them unique.
If you’re in the middle of a hiring surge, you cannot forget your existing team although it’s easy to get caught up in the hiring process. Dedicating all of your time and efforts to finding new talent, may leave your existing people feeling superfluous and neglected; they won’t seem like your priority. Your team may begin to feel overlooked if your entire people strategy involves recruitment and not considering their wants and needs.
money to replace a talented person. From advertising a job to the onboarding process, there is a huge process involved in finding and training the right person, it can take months which can cause issues for a scaling business. Attrition and turnover can cause many issues for businesses looking to grow. Firstly, it can put scaling on hold while you find someone to take over another role; you can’t prioritise new hires in the business if critical roles remain open. Secondly, it can also damage your employer brand reputation and hinder recruitment strategies; candidates will soon get wind that employees aren’t happy and that you have a high turnover rate. Therefore to avoid high attrition rates and going into 2022, employers need to refine their people strategy to ensure that they’re putting people first.
When you’re a startup, the candidate-driven market creates more talent acquisition and retention challenges than most businesses. With so many companies competing for the same technical talent, it’s increasingly difficult for growing businesses to match salary offers and the reputation of large-scale enterprises. As a result, tech candidates are in high demand are probably being contacted by recruiters every day. These tech candidates are tempted by these “sexy” offerings with high salaries or impressive names to add to their resumes. With so little available talent, your existing teams are more likely to be enticed by these offers. Can you really afford to lose your best developers, data scientists and tech talent?
In a scaling business, your teams make or break you. It would help if you were surrounded by dedicated people who are passionate about your mission. However, in a tech business, you also need key skills and knowledge to innovate and grow your offering. Therefore, any loss of staff is felt more deeply than in a large-scale enterprise, and therefore attrition is more of a threat to smaller businesses.
Over the last year, the world of work has been at a standstill, and it’s allowed employers to look at their employer brand and EVP more carefully. As a result, they’ve been able to take a step back and assess what is truly important to their people. This has led to a benefit rethink across a whole range of industries, and now it seems many are promoting employee wellbeing and mental health.
The recruitment market is currently booming. In April this year, there were just under 1.3 million active vacancies in the UK, which is 300,000 up from the previous year. It’s a similar picture in the US, as unemployment rates continue to fall and more jobs are advertised every day. We’re currently in a candidate-driven market, especially in […]
BrewDog aims to be one of the world’s best employers. Praising employees for speaking up and being themselves, BrewDog has set a precedent for employer branding worldwide. Their consumer brand is excellent, their employer brand to external candidates is incredibly appealing with cool perks like pawternaty leave when a team member gets a new pet […]
With the rise in remote working over the last year, it’s becoming increasingly difficult to tell authentic employer brand stories. 2020 has not only changed how we work but where your employees work. As we always like to point out, your people play a crucial part in not only your company culture but your talent […]
It’s one thing to create an enticing employer brand, one that cuts through the noise and captures the attention of top candidates in your industry. However, it’s another thing to know how this talent brand is perceived and the impact it makes on your target market. If your employer brand and Employee Value Proposition (EVP) […]
There’s a lot of talk about the future of work right now, with many companies coming to realise that their employees would prefer the option to work from home at least some of the time. In fact, only 12% of employees are willing to work full-time from an office in the future. A hybrid approach to working […]