VALDOSTA – Today I want to look at how smaller firms (less than 500 employees) are winning the talent wars.
Inc. Magazine wanted to figure out how the best are attracting and retaining talent. So they partnered with Quantum Workplace to audit more than 500 companies to find the 50 most attractive workplaces.
Here are the standout lessons that you can implement at your company:
- Set & Track Goals Visibly – The best workplaces set individual, team, company and department goals and track them visibly. Organizational life is a game, make sure your people can see the score and know if they are winning.
- Offer Financial Guidance – If your people are stressed about their finances, they cannot focus on their work. 74% of the best companies offer one-on-one financial guidance. You can have a “Fee-Only” financial adviser do a lunch and learn. Be careful about letting advisers pitch expensive products to your people. Or you can do a Dave Ramsey course or book as a team.
- Match Retirement Savings – 86% of the 50 best match employee 401(k) contributions. Average matches are 3-4%.
- Paternity Leave – 64% of the best provide it.
- Volunteer – People want to give back. Make it a part of your business and they will have more pride in who they work for. 74% of the best give time off for volunteering.
- Be Flexible – 84% let employees telecommute. Teach your managers to manage by outcomes, not by attendance!
Not all of these ideas cost money. Notice almost all of these ideas relate to helping your people build a better life OUTSIDE of work. Think more about improving their lives and they will help you improve your business.
Get creative and pour into your employees. This will create a positive culture that will attract and retain the best talent.
One more free idea from the great people at Chick-Fil-a. Ask your people what the 5 things are they want to Be, Do, Have and Help in their lifetime. 5 answers for each. If you know these things about your people you will know them better than their best friends. You can then find ways to help them accomplish their goals while they are helping you achieve yours. This is also a great exercise to do with your spouse!
Build a better employer brand and you will attract better people who will stay with you longer. They will invite their talented friends to join your great workplace. Remember, birds of a feather flock together. Make sure your “A+” players are inviting their “A+” friends.
Talented, engaged team members provide better customer service making customers very happy. Happy customers are more loyal, less price sensitive and lead to a better bottom line.
It’s a beautiful thing!
Are you ready to make your workplace a talent magnet? Get started with free tools from our Resource Page or give us a call at 229.244.1559.
Curt Fowler is President of Fowler & Company (http://valuesdrivenresults.com/) and Director at Fowler, Holley, Rambo & Stalvey (http://valdostacpa.com/). He is dedicated to helping leaders create and achieve a compelling vision for their organizations. Curt is a syndicated business writer and keynote speaker. He has an MBA in Strategy and Entrepreneurship from the Kellogg School, is a CPA, and a pretty good guy as defined by his wife and four children.