In light of the impact of the pandemic, technology has been reactivated and re-imagined. TechTuesday invites technology industry experts, app developers, entrepreneurs, and tech enthusiasts for a learning call to discuss key tech know-hows, challenges, and innovations.
Watch #techtuesday Episode #3 and meet Kim Henderson of Cobalt Compass Solutions.
Kim Henderson is the managing consultant at Cobalt Compass Solutions.
Cobalt Compass Solutions is a staffing and professional services consulting and training firm. Training programs encompass the full life cycle of sales in staffing and teach the skills and strategies to create lasting customer relationships. Their consulting services equip leaders with the methods necessary to establish and operate profitable business units while also managing teams for performance and revenue generation.
Current Employment Trends
Unprecedented labor market trends in terms of staffing associations have been noticed in the US market recently. Companies are increasingly battling to hire qualified individuals as well as retaining their best employees.
Continue reading the article to learn more about Kim's thoughts and advice on attracting and retaining talent.
What to consider to attract talents?
Workweek arrangements are becoming increasingly innovative as the years progresses. Some prefer 9 hours of work with every other Friday off, while others prefer 4 days of 10 hours work with one Friday off per week. These may not be suitable for all organizations, but providing employees with work schedule flexibility guarantees a high level of satisfaction in the workplace.
Employees who move between locations or whose jobs require travel must be compensated. Some provide mileage reimbursements or stipends for total commuting.
In order to stay competitive, salary ranges should be reviewed annually due to the industry's fast development.
Allowing one does not mean that employees will stop working; they will continue to do their job. These policies are beneficial to the organization as it promotes mental health.
Give bonuses. This can be done by dividing it or splitting it into thirds and distributing them on a quarterly basis to safeguard the company as well.
Providing this can be an excellent tool to recruit and even retain talent, particularly those with families and children.
Supporting them in their pursuit of professional growth with the company's full or partial support makes a difference. This could potentially be a substantial market differentiator among other competitors.
Is company branding important?
Kim emphasized the importance of the company brand. Companies should be more involved in society to express the message they want to send by being active and visible in the local community through charitable organizations, professional groups, and sponsoring networking events.
Apart from being visible to the community, promoting the company's excellent, innovative, and unique features on the internet can greatly help in attracting talents as they are becoming more tech-savvy.
As you can see, branding is important, and it is essential that you ensure that your message is perceived the right way.
Talent Pools You Need to Look For
They are frequently overlooked, but they can contribute lots of experience, expertise, knowledge, and values to the organization.
Companies today view recent grads as an excellent pool of potential as they are young and moldable. Some are now partnering with colleges and universities to offer a variety of internship programs.
These are the individuals who stepped away from the industry for years or decades to care for aged parents or raise children. They are also a great pool to consider since they already know the basic knowledge and skills and only need training, which is achievable.
This may be controversial for some, but several companies are now thinking of giving those with non-violent criminal records another chance to find meaningful work. They can undergo technical training or earn certificates that are essential for employment.
How to get a high retention rate among staff?
- Provide upskilling and reskilling opportunities
- Establish a clear career path for employees as they continue to contribute to the organization.
- Build a leadership culture that celebrates and cares about employees' success. Plus, this will increase staff loyalty.
- Consider how you effectively market yourself to attract individuals.
- Look into different talent pools.
- Take into consideration the attractions tools you can provide.
- Start to listen to your employees. Asking and listening to them will let you know what’s important.
- Introducing Business on a Browser
- The Importance of Balancing People with Technology
- New Business? Tax Issues to Consider
- You Can Expense Business IT Purchases
- Episode #1 with Peter Yeargin of Sage
- Episode #2 with Scott Dickson of 20 Digits