Finders Keepers, Losers Weepers : Attracting And Retaining Talent
How Does Your Company Compare to its Competition?
No doubt you think ahead when it comes to your business’s strategic planning. How does your people planning factor in? If you lose your key talent, you could have a large hole in the organization that takes months to fill. With external candidates able to find so much about your company online, you need to also master your reputation in the marketplace for being a great place to work. Knowing your competitive position is the first step to establishing your company’s value proposition. A close second is establishing a culture of recognition, with an environment that isn’t afraid to take chances and have a little fun along the way.
How Compinsense Can Help?
Compinsense can help you establish pay and rewards programs that get you where you want to be. You don’t have to pay top dollar. Being in the ballpark on salary and offering a supportive culture with lots of recognition for a job well done can make you the place employees want to be. Consider that these factors for attracting and retaining talent are about much more than pay:
- Have a system in place that identifies and recognizes key contributors.
- Know your competitive position to market – ignorance isn’t always bliss.
- Establish a culture of recognition and celebrating success for a job well done.
- Consider internal equity and contribution level when establishing pay for new hires.