You need skilled, dedicated employees to build your business. Attracting human capital is essential to positioning your company for growth and success.
But establishing your company as the desired destination for top talent takes effort. You've got to lead the competition on two fronts: by offering an attractive compensation and benefits package, and showcasing a corporate brand and culture that excites and motivates candidates.
Consider the following 5 components of your compensation and benefits package:
Health care and life insurance benefits
Tax-saving retirement plans, e.g., 401(k)
Other types of benefits, such as childcare assistance and gym memberships
It is important to consider whether an employee will be exempt or non-exempt under the federal Fair Labor Standards Act (FLSA) when making decisions regarding compensation. Non-exempt employees are entitled to certain protections (including minimum wage and overtime pay) under the FLSA. Be sure to comply with all applicable federal and state laws regarding compensation and benefits.
How to Attract Top Talent
Take time to strategically evaluate your company in relation to your competition in terms of work environment, corporate brand and flexibility. Establishing a few new policies and procedures could enhance your corporate culture and make your company a big draw for rising stars in your industry.
Consider the following to help build your company's image:
- Position-related benefits, such as flexible work arrangements, telecommuting, and location and positions matched to candidates' individual needs
- Support and training, including career-enhancing courses, certifications and a clear path to career growth and potential
- Company brand should be positive, well known and recognized in the industry as successful
- Corporate environment, including a friendly, organized workplace and a well-established corporate culture with clear communication of corporate values. (In fact, much has been written to support the notion that happier employees are, ultimately, more productive and profitable.)
Finally, and of critical importance, your interview process should be straightforward, friendly and professional. Remember, your candidates are also interviewing you--and this is your best opportunity to impress them with the vision of who you are, and how they'd fit in your organization.
You can find more tips on attracting (and retaining) top talent in our Recruitment & Hiring section.
And for a review of other key HR tasks related to hiring, performance reviews, and discipline, be sure to check out our "Must-Do" HR Checklist, available free for download.
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