Recently, the federal Bureau of Labor Statistics reported that the national unemployment rate at the close of 2019 is 3.5 percent, unchanged from the previous month, down from the 3.9 percent figure of a year ago at this time. So, nearly everyone is working, and open positions are still hard to fill for most organizations.
Consequently, your efforts at recruiting and retention, ideally the lifeblood of your human capital management philosophy, are more important than ever. To accomplish this requires a separate and distinct approach to both areas.
Examine the sourcing strategies you currently use to find good people. What works and why, also what doesn’t work, and why. Try new ways of getting the word out about your opportunities and your workplace to the type of workers you desire to hire. Take a look at your employer brand and ask: are we doing everything we can to ensure that we are an employer of choice? And is that message getting through to the right people? Do your best to leave no stone unturned in the hunt for talent, for we all know the competition is fierce to get the best performers.
Then once you have these key difference-makers, do what it takes to keep them on staff. Keep your finger on the pulse of what drives your employees to excel. Make changes when and where necessary to ensure you have the type of environment and culture that promotes and nurtures growth, development, and achievement. If you can get creative coming up with some ways to make it a fun place to come to work, so much the better.
Productive efforts in the arena of talent acquisition, working hand in hand with the ongoing, effective engagement of that talent, will spell success for your organization both now and in the long term.