Companies must stand out to retain top talent

Photo by ANTONI SHKRABA production

In today’s environment, it is crucial for companies to stand out as an employer so they can retain top talent. Published in EngageRocket’s latest guide on award-winning best practices are 5 key highlights that make the winners stand out from the crowd:

1. Emphasize on people development, training and future-proofing

Top organizations use multiple channels for L&D, including in-house academies. They also prioritize continuous learning, while tracking and measuring its impact on the bottom line. Besides organization-wide learning, they pay attention to individual career growth and progression, with ample opportunities for horizontal transfers.

2. Build a compelling Employer Value Proposition (EVP)

The best workplaces are characterized by a strong employer value proposition, combining competitive pay, diversity, equity, and inclusion (DEI), and a healthy work-life balance. Importantly, they maintain compensation parity for existing employees and not just for attracting new talent. These winning companies view DEI as intrinsic to the organizational mindset, complete with managerial training to champion DEI initiatives.

3. Embrace digital transformation as a key pillar

Top companies adopt technology for three reasons – to streamline business processes, improve operational resilience, and simplify employees’ lives. Some of the key technologies employed by the award winners include infrastructure improvements, online recruitment tools, and automated platforms to measure and improve employee experiences.

4. Invest in stronger human connections

These top organizations put employees first, because they understand that businesses succeed only when their people thrive. They pay close attention to what employees say, think, and do, through continuous listening. Based on this, they initiate timely follow-up actions to deliver a winning employee experience.

5. Track and measure people initiatives’ efficiency

The ability to measure employee experience is a common thread across award winners. Specifically, they have a culture of continuous listening. One key highlight is the emphasis on collecting employee feedback, such as through the usage of pulse surveys and annual engagement surveys. This allows them to be in touch with their people’s motivations and sentiments at key moments in the employee journey.