The talent market is tight right now. It continues to be a candidate’s market and feels as though there are more opportunities than there is available talent. This has caused the war over talent to heat up. Companies are getting more competitive to be able to fill roles. This means that it is vital for companies to make sure that their employees are feeling the love from their job in order to retain them. Here is how you can make your team feel valued.
Take a deep look into your company culture. As a hiring manager, put yourself into the shoes of your employees. Think about what sizzle points you have to brag about in the company culture. What things can be improved? People like to feel valued and to have the work that they put in acknowledged. This is an easy step that can be implemented. Acknowledge and celebrate when employees have anniversaries, birthdays, meet milestones and crush goals. A simple thank you can go a long way. Create an environment where people feel comfortable celebrating each other’s accomplishments. Recognize good work and offer incentives to teams and individuals. That can look like rewards ranging from bonuses to even silly things such as a pizza party or a group trip. People who feel their work is valued and appreciated are likely to be more productive and want to stay with the company.
What can be offered?
Companies are having to get more creative with incentives to maintain and attract talent. While there is more than just compensation, it is important to make sure what you are paying is competitive. Do studies to see if your compensation packages are competitive in the industry- working with a chemical recruiter can help give insight into this. Offering other incentives outside of pay can help too. Work-life balance has become increasingly important, so offering flexible schedules or remote and hybrid work can be extremely attractive. Offer ways to allow people to meet their career goals. Actions like promoting, giving opportunities to get certifications, cross-functional training, or clear progression paths within the company will be appreciated.
Do an analysis
Look into what can be improved. Getting feedback from employees can help get insight. Have transparent conversations about what they are happy about and what they feel could be improved. Anonymous surveys can be a great way to gather honest data without pressure. Offer a safe space for employees to express their thoughts and be transparent on what goals the company is looking to accomplish to add improvements to these areas.
Retaining talent nowadays requires more creative solutions than before. Making sure employees feel loved, valued, and appreciated for their contributions should be of utmost importance to ensure that they are happy with their current work. Not only will your retention rates go up, but likely the productivity rates as well. The more companies put into their employees today will pay off in the long run.
Are you looking for top talent in the Specialty Chemical, Plastics, or Animal Health industry?
Contact us to discuss how we can bring top leadership talent to your team. Boaz Partners is a premier executive search firm focused on the direct recruitment of executives and professionals for the specialty chemicals and plastics space. We are your partner, and our focus is on custom recruiting solutions.