How to attract and retain talent – incentivising employees

March 2023

In a world of volatility, uncertainty, complexity, and ambiguity (VUCA) everything changes rapidly. This makes it important to act quickly, be flexible, and adapt to circumstances. Attracting and retaining employees in this changing environment is a concern for employers.

Until now, talent management has focused largely on developing and retaining employees. However, to achieve strategic business objectives, businesses must focus on attracting the right employees with the right skills.

To attract and retain the right talent in a competitive market, employers must address employees’ priorities that extend beyond salary and benefits, to include incentives such as flexible working and opportunities for career development. So how do you attract and retain great talent?

Attracting talent

In considering how to attract talent we will consider three areas:

• how to advertise a position
• how a business brands itself as an employer
• the employee value proposition

Advertising a position

A job description that simply lists tasks, duties, functions, and responsibilities, leaving a job seeker with more questions than answers, no longer works. Businesses are now using more creative ways to advertise such as animated advertisements, recruitment videos, and captivating recruitment slogans.

Employer branding

An employer’s brand is crucial in attracting the right people. This means demonstrating to candidates the business’s culture, values, and opportunities. Significantly, 84% of job seekers consider the reputation of a company important when they decide which jobs to apply for. Developing a strong brand as an employer helps candidates to assess how they may fit in a company, helping ultimate employee engagement and retention.

Employee value proposition (EVP)

An outdated EVP is one that focuses on financial and non-financial benefits to motivate employees. A more modern EVP is one where an employer provides the support, recognition, and values that enable employees to achieve their potential.

Getting the EVP right will drive talent management, both from an attraction and retention viewpoint. So a business must communicate its EVP clearly and effectively if it is to optimise its brand as an employer and attract top talent.

Retaining talent

In this part we will consider how the following are key to retaining talent:

• work-life balance and flexible working
• employee autonomy
• open-door policy

Work-life balance and flexible working

A focus on employee satisfaction, health, and wellbeing will contribute to efficient business performance. While salary necessarily remains an overriding concern for employees, it is no longer the only consideration. Businesses must offer more to retain the best talent.

In a post-pandemic world, different considerations now influence employee engagement and retention. Most employees now consider hybrid or remote working, flexibility, and work-life balance as valuable employee benefits that enhance job satisfaction and morale.

Employee autonomy

Promoting employee autonomy offers many benefits. Employees feel less pressure and are more confident, which leads to heightened job satisfaction, employee engagement, and motivation. This encourages creativity, innovation, trust, and productivity. Ultimately, an autonomous culture breeds leaders, promotes skills development, and leads to better employee retention.

Open-door policy

A policy where management encourages an open dialogue with employees creates a collaborative, high-performance, and respectful work environment. A business that exercises an open-door policy will enhance team communication and improve retention – when employees feel heard and valued, they are more likely to stay loyal.

Attracting and retaining top talent is crucial for the success of any business because talented employees drive innovation, productivity, and overall business performance. Businesses must focus on creating a strong employer brand, while offering competitive salaries and benefits, if they are to attract and retain the talent necessary for business success.

About the author

Khatuna Goletiani
Tbilisi, Georgia

Khatuna is a HR consultant at RB AAC (Georgia). She is responsible for executing the management of all HR processes within the company, including recruitment, employee motivation and retention, developing and managing human resource policies and delivering training for employees, while dealing with various other HR-related issues. At RB AAC she also provides HR services to the clients of the company.

Khatuna is a HRCI Certified SPHRi professional with 15 years’ working experience in executing HR management for small and large companies in a variety of industries. Since 2017, she has served as a subject matter expert and exam development volunteer for the HR Certification Institute.

khatuna@russellbedford.ge