attracting and retaining talented employees pdf

: 9>Vs} z\)/rlwA zM. and Kinange, U.M. We proceed to use descriptive analysis to generate insights from the data generated. Understanding matching patterns and determinants of attracting quality talents is an under researched area especially from the firm perspective (Ghavidel et al., 2019). This is part of the challenge firm faces in attracting and retaining quality talents. The organisation interfaces via social media should be enhance and populated with information that will attract the right kind of candidates. In response, many are taking action to improve the entire employee experience (EX). 527-561. 1284 New employees want to work for a company that cares less about the qualified work output they are able to produce, and more about the impact they can deliver to the business in a holistic sense. 76% of the workers polled believe that employees will be more likely to prioritize lifestyle (family and personal interests) over proximity to work, and will pursue jobs in locations where they can focus on both even if it means taking a pay cut. Adewale, O.P. Attention has recently given to understand how organisations source for their workforce, because employees are widely recognised as valuable assets that organisations can leverage upon for survival and attaining competitive advantage. 5, pp. 86% of employees and 66% of HR directors assert that a diverse workforce will become even more important as roles, skills, and company requirements change over time. Just like a business must understand what its. 115, pp. Juliana, M.I. stream 9 No. 107 No. and Nosa, A.L. Tuition reimbursement policies are most likely to become permanent (90%). In the face of modern trend in the labour space, respondents were asked to suggest modifications that can be adopted or suitable for firms to attract and recruit quality talent. 4, pp. 22-23. 426-455. , Transportation, Vol. In some fields, such as nursing, three 12-hour shifts per week already is relatively standard, Oates said. 4, pp. How to Build a Great Team: 4 Tips for Employee Engagement and Retention 643-650. Most employers also expect these actions to be permanent for both attraction (71%) and retention (78%). 6 No. Albert, E.T. (Eds), Social Media in Employee Selection and Recruitment: Theory, Practice, and Current Challenges, Springer, London, pp. 1-35. Greater transparency in wage and benefit information disemination should encourage to reduce exploitation of employees at all levels. Specifically, this paper tends to throw more light on the following research questions: how do firms use different recruitment channels for hiring workers, and how does the use of these channels affect the quality of matches? 48-60.[Mismatch]. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. According to Kaplan and Haenlein (2010), social media is an internet-based platform that allows users to generate and exchange ideas, contents and values. We are motivated to use this research method because of its potential to confirm research findings through triangulation, gather richer data, and to initiate new modes of thinking (Rossman and Wilson, 1985; Denscombe, 2008). Job accessibility and employment outcomes: which income groups benefit the most? 1) Start by asking more questions to gain insights on employees. How To Attract And Retain Talented Employees Fowowe, B. Network theory is proposed by Johanson and Mattsson (1988) in with the postulation that every business venture makes use of available networks to acquire resources both human and material to achieve its goals and objectives. Different roles have a range of rate per hour or per year. Deakins, D. and Bensemann, J. Forward-thinking companies will focus on closing this gap, and will design people-centric experiences that give employees the space they need to unlock their full potential and deliver transformative results. This is particularly true of the younger generation called Millennial. PDF Attracting and Retaining Talent: Exploring Human Resources - ANZAM 874-900. 102-127. Specifically, the paper throws light on how firms use different recruitment channels for hiring workers, and how the use of these channels affects the quality of matches. HR directors believe that ensuring that an organization has the latest collaborative technology in place to enable agile learning is the most important factor in recruiting and retaining the best talent, and 88% of employees confirm this notion, saying that they look for this when searching for a new position. Attracting and Retaining Talent in the Automotive Industry 2 A significant number of current employees are nearing retirement, the industry overall has an image problem, the variety of skills needed is broader than ever and competition is fierce from tech companies that have an inherent 'cool' factor. This article is published under the Creative Commons Attribution (CC BY 4.0) license. Last year, only 15% of employers reported having difficulty retaining employees. and Ogbonna, I.G. Some of these exceptional talents too already are engaged in freelancing and private practice (Perampalam et al., 2017; Schwartz, 2018), some calibers of professionals are social media savvy; others are no, and not be easily visible for opportunities. WINNING THE WAR FOR TALENT 1 Abstract Given the struggle that many organizations face hiring and retaining talent in today's tight labor market, it is critical to understand how to effectively reward employees. Focus on flexibility. Nekoei, A. and Weber, A. How Learning and Development Can Attractand RetainTalent - SHRM 2, pp. 1-7. 121-128. Cropanzano, R. and Mitchell, M.S. Attracting and Retaining Talent: Exploring Human Resources Development Trends in Australia ABSTRACT Australia has recorded unparalleled economic expansion for more than a decade. 4, pp. From the sample, 46% do not state salary when placing advertisement, stating that it mostly gives rise to higher application and makes it difficult to select those who are passionate about the job, while a higher salary scale attracts many candidates, a lower salary scale can further put candidates off including capable candidates. This paper aims to explore the drivers of attracting and recruiting quality talents. In carrying out this study, firms in the private sector form the majority, constituting 79% of the sample; this is because private firms carry out recruitment processes more when compared to the private sector. 39 No. (1961), Social Behavior: Its Elementary Forms, Harcourt Brace, New York, NY. It's crucial to keep them happy.. All rights reserved. A decade ago, work-centrality the relative importance that people place on their work was high. 825-867. 14-22. Nearly three in four employers (73% . Consequently, multiple layers of assessment and screening are put in place at a great cost by firms to sieve through the crowd and pick out the best and brightest. Leach, L.S., Butterworth, P., Poyser, C., Batterham, P.J. and Wilson, B.L. However, networking alone may not be able to resolve the issue because employees will like to take the jobs that seem fair to them according to equity theory as postulated by Adams (1963). Techniques such as the use of social media, traditional media, online interview, physical interview have proven to help in selecting quality talents. 9 0 obj For audio, it is recommended you dial in A copy of the slides + recording will be available post webinar. In developed countries, there are generally openly known industry and role compensation packages (Adom, 2018; Clemens et al., 2017). Understanding matching patterns and determinants of attracting quality talents is an under-researched area, especially from a firm perspective. Recruit employees that share your company's mission and values. The paper leveraged on mixed methodology. Most opinion in the practice of social media-assisted employee hiring is informal, unsystematic, muddled and anecdotal (Bondarouk et al., 2013; Landers and Schmidt, 2016). Recruitment has a long history, most likely to pre-historic times because people tend to consume the services of others to achieve what they cannot singlehandedly accomplish (Adetunji and Ogbonna, 2013). Lagos has a large population of about 17.5 million as of 2017 (National Bureau of Statistics report, 2018) which translates into a huge market for goods and services. Techniques such as the use of social media, traditional media, online interviews, physical interviews have proven to help in selecting quality talents. 18 No. The roles of employment processes in organizational image in insurance organistions in Nigeria: employees and community perspectives, Australian Journal of Business and Management Research, E-recruitment: practices, opportunities and challenges, European Journal of Business and Management, E- recruitment: practices, benefits and challenges, Journal of the Institute of Personnel Management of Nigeria, Understanding the factors influencing the take-off of online freelancing in Sri Lanka, Applicants' perceptions on online recruitment, Managerial Challenges of the Contemporary Society. 2, pp. Proceedings, Vol. (2013), Corporate social responsibility as a recruitment strategy by organisations, International Review of Management and Business Research, Vol. Staff and management involved in recruitment should be trained in how to manage remote interviews and engage with candidates appropriately. Attracting and retaining the right talent | McKinsey Digitisation is regarded as a key ingredient in attracting and recruiting quality talents. Hence, they have better contribution than the public sector. However, social recruiting approach can offer speed, efficiency and the firms ability to target and attract suitable candidates, and as well provide useful and additional information about a potential candidate or job seeker (Emanuela, 2018). Albert (2019) and Son et al. Employees have been finding better jobs, with key decision factors generally revolving around compensation, benefits, career advancement and workplace flexibility. 2 No. Attract and hire the best candidates by showing how your company culture and learning programs connect. 45 No. The use of internet further positively improves the corporate image and profile of firms, reduction in recruitment cost, administrative burden are some of the benefit of using the internet as a recruiting platform (Fred and Kinange, 2018). PDF How Learning Programs Attract and Retain Top Talent - LinkedIn Business 333-355. However, Figure 1 demonstrates a recruitment process as proposed by Breaugh (2009). 422-434. Conduct thorough market research to ensure your salaries align with industry standards. Introduction 2. These include. Mary Meaney address the ten most basic issues facing leaders: attracting and. Clients depend on us for specialized industry expertise. On the other hand, the exceptional graduates who are few are conscious of their worth and value and hence highly mobile (Lievens and Slaughter, 2016; Hu, 2017; Okolie and Irabor, 2017). Three trends and how to prepare for them. Demand side management in Nigeria, Energy Policy, Vol. The full terms of this license may be seen at http://creativecommons.org/licences/by/4.0/legalcode. Four ways to help employees cope, How employers are supporting employee resilience amid the pandemic, Pandemic and remote work challenges underscore importance of employee wellbeing, Benefits Administration and Outsourcing Solutions, Executive Compensation and Board Advisory, Financial, Executive and Professional Risks (FINEX). 5, pp. 47 No. Bondarouk, T., Marsman, E. and Rekers, M. (2014), HRM, technology and innovation: new HRM competences for old business challenges?, Human Resource Management, Social Innovation and Technology Advanced Series in Management, Vol. (2017), Exploring HR practitioners perspective on employer branding and its role in organizational attractiveness and talent management, International Journal of Organizational Analysis, Vol. Chunyan, X., Bagozzi, R.P. Here are four employee engagement strategies HR leaders can use to attract and retain the top talent their organizations need to thrive. (2018), Global migration of talent: drain, gain, and transnational impacts, International Scholarships in Higher Education, Palgrave Macmillan, Cham, pp. 422-430. (2014), Leveraging employer branding, performance management and human resource development to enhance employee retention, Human Resource Development International, Vol. We conducted a study, which we dubbed the Talent Accelerator, as part of Citrixs Work 2035 project, a year-long examination of global work patterns and plans designed to understand how work will change, and the role that technology will play in enabling people to perform at their best. Respondents are in agreement with using professional and personal networks to attract quality talents, it is believed that professionals are able to identify and recommend talents that are capable of filling vacant positions. Attracting Talent During a Worker Shortage - Harvard Business Review The most common action employers are planning or considering taking to attract employees is to, Some actions employers cited as having already been taken, planned or under consideration are expected to be temporary. 2021 Talent Attraction and Retention Survey - WTW - Willis Towers Watson Chand, M. and Tung, R.L. The model is cyclical in nature because firms continuously engage in hiring talent to fill gaps as long as they still exist. 1, pp. 49-56. 5, pp. To retain employees, 70% of employers have taken action to increase workplace flexibility, while 65% are providing tuition reimbursement. Evidently, the study found relationship between the network theory which gives an overview of the interactions within an organisation and the views of the respondent. Breaugh, J.A. 6 No. Employers are also having difficulty attracting sales force positions (37%). Furthermore, age and gender of candidate should not be a barrier to their being selected. Click to return to the beginning of the menu or press escape to close. 6, pp. Randall, R. (2016), Aptitude test, Encyclopedia of Human Resource Management, Edward Elgar Publishing. (PDF) Attracting Talented Employees to the Company: Do We Need 5, pp. Also, the role of policies including the national labour laws, industry norms and localised firm policies have on hiring practices and drivers in a developing country. 2, pp. One of the major arguments of this theory is that, it is an exchange of values or actions between individuals (Homans, 1961); therefore, the extent to which firms use wages and other benefits in their hiring process may attract quality talents that will serve as valuable assets. To improve attraction, 53% of employers have already taken action to focus more on improving the employee experience, while 61% are offering greater workplace flexibility. Indeed, many of such criteria have barred many from being considered in the selection process. Challenges in attracting and retaining talent expected to continue - WTW (1999), The quest for the best: human resource practices to attract and retain talent, European Management Journal, Vol. 1. Invest in Career Growth 27 No. Funding details: The authors received no direct funding for this research work. 4, pp. October 9, 2013. Atkinson, J. and Storey, D. (1994), Small Firms and Employment, Employment in the Small Firm and the Labour Market, Routledge, London. My organization, Citrix, wanted to understand what the current attitudes of both HR managers and knowledge workers are with regard to their future workforce. 33 No. Ffll u\-c{EPhqAL[UV6J{"Rmv1?>LE#E|V :o'`j2EHw'4wIh.*Zpl 1}"% ?eQA>r5BfH`QyW/vwrj;5YI Small Medium Enterprises Development Agency of Nigeria (2007), Annual report, (SMEDAN), Nigeria, available at: www.smedan.gov.ng/images/SMEDANandNBS2013. Interview process is aided with video conferencing, reducing cost of transport and other associated risk, offer letter can be gotten through the internet, e-signing allows acceptance or rejection of an offer online without much stress (Petre et al., 2016). (1963), Toward an understanding of equity, The Journal of Abnormal and Social Psychology, Vol. and Sharma, S. (2014), Employer branding: strategy for improving workplace attractiveness, International Journal of Organizational Analysis, Vol. Okolie, U.C. Employee Onboarding: Attracting and Retaining Talent. (2016), Social media in employee selection and recruitment: an overview, in Landers, R.N. And it could mean enlisting more part-time, contract, and gig workers who make up a larger percentage of the workforce than ever to take on more hours. 11, pp. Ghavidel, B.M., Nasirpour, K. and Asgari, A. Our findings make clear that to be best positioned to win and keep the talent they need for sustained success, organizations need to understand the range of strategies available to them across the entire employee experience. By promoting the success of your team through LinkedIn and Twitter, prospective applicants can witness first-hand how . Therefore, to be at the forefront in retaining talents, firm brand need to display the capability of projecting the image and personality of the organisation as an attractive employer of labour, exposing employee to its guiding principles, ideals, code of conduct as a way of attracting, engaging and retaining quality talents (Drury, 2016; Dabirian et al., 2017). A Better Way to Develop and Retain Top Talent - Harvard Business Review The four areas below are a good place to start: Research findings are based on responses from 380 employers representing 7.4 million workers. Forty-nine percent of employers are planning or considering making market movement adjustments and offering higher base salary increases. Access more than 40 courses trusted by Fortune 500 companies. 1-6. 5 Attracting and retaining talented employees during turbulent times. The process of searching for the best candidates and attracting them to consider job offers is regarded as recruitment (Cole, 2005; Bhupendra and Swati, 2015). PDF How to Attract and Retain Great Employees - melbabenson.com (2017), Does extending unemployment benefits improve job quality?, American Economic Review, Vol. Hu, L. (2017), Job accessibility and employment outcomes: which income groups benefit the most? and Tsai, W. (2004), Taking stock of networks and organizations: a multilevel perspective, Academy of Management Journal, Vol. 3, pp. Adopting social media platforms for recruitment has its benefits and challenges. This study is underpinned by network theory, equity theory, social exchange theory and resource-based theory. The last year has forever changed theway employees view and approach work, but one thing holds true: Businesses that want to attract and retain the talent they need to move forward must understand the top priorities of their future workforce.
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