With the New Year comes a clean slate and renewed opportunity to assess what your company should be investing time and money in during the year ahead.
And, in 2015, investing in talent should be a priority if you want to attract high-quality employees and keep your top performers from looking elsewhere.
Here are five areas you can start focusing on now to set your organization up for success in 2015.
Developing Retention Strategies
As HR content machine Tim Sackett pointed out on his blog recently, talent retention is again becoming a concern for employers – and it’s a trend expected to continue into 2015.
An improving economy has led to more choices for employees, and so it will be more important than ever for companies to develop strategies for attracting and retaining top talent in 2015. With that in mind, you should start looking beyond compensation to think outside the box about how to incorporate company culture, professional development opportunities and lifestyle benefits in your retention strategies.
Teaching Managers How to Relate to Employees
A good start would be focusing on improving manager/employee relationships and sending managers to a great class is a good place to start. “People leave managers, they don’t leave companies,” says Steve Boese, author of the HR Technology Blog.
The Society for Human Resource Management offers Employee Relations classes that can help you brainstorm new strategies.
Finding Talent Unconventionally
This year, improve your recruiting program by investing in software that helps bring new candidates to you. For example, Gild and iCIMS’ Talent Platform help companies connect with the right people.
“HR needs to figure out the digital water cooler,” says Brian Sommer, CEO of TechVentive, Inc., a market strategy and content firm.. “Where do pockets of talent hang out online? What discussion groups are online? Who is the most influential or most respected? Those are the people you need to cultivate relationships with.
Understanding Your Brand View
If keeping employees is important, attracting new talent is going to keep the company moving forward. You need to invest time in understanding how your brand is seen by others. Investigate how prospective employees see the company and use your findings to compete for and find new talent. “Companies have to spend time understanding the perception of the company brand in the marketplace,” says Boese.
Check out websites like Glassdoor, where you can see who’s looking at your company and which other organizations those same job seekers are checking out. Explore and use tools on Entelo or TalentBin to find potential employees.
If you're unhappy with how you're perceived, then spend some time bolstering your employer branding efforts though your social platforms, employee evangelism and other outlets.
In many ways, 2014 was the year data analytics exploded. Lots of companies use data for gathering information, but the trend toward using it for predicting is continuing to take off. Relying on technology to help you choose the best candidates saves time and eliminates guesswork.
“Those kinds of tools are becoming more common and as the success with them becomes more demonstrated,” says Boese. “The cost of implementing them is cheaper than hiring the wrong person.”
Resources like Evolv, which uses piles of data to assess if a candidate is a good match, and Chequed, which runs background checks, streamline the hiring process and are racking up success stories. Tools offered through Jibe show patterns of applicants who started and actually completed an application process and where they came from, so HR narrows down to the most effective techniques.