Candidate retention – cost vs investment

We know that a harmonious workforce is a powerful asset to any business.

Recruiting the right people for the role can be a time-consuming and costly process, and companies might think it's a luxury they can't afford. So, let's consider the importance of employee retention and how we can achieve it.

Costs vs investment

The cost of advertising for roles can often be a barrier for some companies because they see it as an additional cost. However, working with a recruitment agency and conducting a thorough recruitment process are not luxuries. By changing mindset to understanding the value of recruitment as an investment, we open up the business to greater success. If companies don't invest in their recruitment process early doors, they run the risk of having to spend more when they can't find the right fit or people are quick to leave the role.

360 process

We ensure that the candidates that we work with have a clear understanding of what's involved for the job before we put them forward. This means going beyond the job description and putting things into context, explaining what they can expect on day one as well as the values and mission of a company. A good cultural fit is best described as a workplace where employees can be most comfortable being themselves. An engaging culture doesn't mean everyone has to like the same things; it's about the dynamics and the mentality of the team. The people make the culture, not the office ping pong table.

Should they stay, or should they go? 

The cultural and functional insight into a role gives potential candidates the ability to get behind what's really important before they start, making them more likely to stay and cutting the cost of recruitment overall. At People Solutions, we endeavour to give them all the information they need, so there are no surprises. Honesty is the best policy when advertising a role. If the expectations of the employee don't meet the realities during onboarding, trouble can strike. Communicating the truth of the role is essential to attract and retain the right people.

Moving forward

Once a new employee has been onboarded, the next challenge is to keep them happy and settled. By delivering (not just communicating) the companies perks, such as free gym memberships, pensions, wellbeing benefits and career progression opportunities, the business will hopefully build a culture that makes people want to stay. All of these perks are a great asset for a company, but employers should also consider how employees are treated and represented. Having a good HR team and affective appraisal processes in place that make employees feel heard and protected are critical to their feeling of stability and job satisfaction.

Listen and understand

Finding the right candidates is essential to the recruitment process. Genuinely listening and understanding their needs can save everyone involved a lot of time. Though candidates might seem a great fit on paper – this might not be the case in reality. We take the time to talk to candidates to understand what is make or break for them or what they'd be happy to compromise on. Moving to a new job is one of the most stressful things in life we can do next to moving to a new house, so its integral that we manage the emotional and functional needs of the candidate during this process.

We work closely with both our clients and candidates to understand how to get the best fit to ensure a long and happy future for everyone involved.

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