If you are thinking about growing your company as an entrepreneur or an owner of a business, then you need to attract the most suitable talent from the industry. Recruiting the right talent for your company is one of the most robust strategies to become efficient and more competitive in the target market.
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What is the meaning of the right talent?
In simple words, the right talent means talent suited to blend in with the vision and objectives of your business. They skilfully deliver for your company. On the other hand, they expect benefits such as standard remuneration, health insurance, incentives, etc.
Why is talent important?
Superior talent is more productive than the average employee. Improving revenue and operational efficiency in business is a direct correlation with the right talent in the company. Companies should hire people who are experts in their fields and who are able to collaborate within the team and across various professionals within the company. Choosing the right person for the right job is important when hiring. The challenge is not only finding the best talent, but also in finding the right talent for your company.
A positive culture in the work environment is essential
When you prioritise attracting the best and right talent, it is essential to establish a positive culture in the work environment of your company. Without it, it is impossible to establish your company as a visionary establishment. A growth-oriented culture helps improve the company’s reputation to a considerable extent. It leads to more benefits for the business in the long run.
What happens when you are unable to attract the right talent?
Have you ever thought as an entrepreneur or head of the HR department about what would happen to your business when you are unable to attract the right talent? There are lots of ill effects, from a practical perspective.
● You will lag behind the competitive market
● There will be no innovation within the operational framework of your company
● It would become impossible to expand or penetrate new target markets
● There will be stagnancy as far as the growth of the company is concerned
How is it possible to create a positive culture in the workspace?
Are you wondering about ways to create and establish a positive culture in your company’s work environment? Well, there are some distinct methods that you can apply.
● Locating the loopholes of the current conditions will help you in realising the specific avenues in which you can improve the work environment
● Developing trust in the employees about your policies agendas by remaining transparent with the employees
● Clearly defining the protocols of the work environment with some room for flexibility and discussions
● Having a benchmark to transparently measure the goals (such as analysing the KRAs and KPIs) and providing feedback without any bias
● It is essential to recognise the good work of your employees promptly and genuinely, boosting their morale
● Provide resources and support to your employees to enhance their skills and develop new expertise. The resources can be funds, study materials, access to facilities, etc.
● Focus on engaging your employees in the decision-making process of your business
What are the other ways you can attract the right talent?
You must consider other techniques if you need to attract the right talent to your company. Some of those are:
● Developing job descriptions that are very clear to the last detail
● Executing a standard operating procedure
● Marketing the requirements of candidates through the most suitable and effective avenues
● Cultivating a good, large pool of candidates in the industry
● Truthfully promising and officially offering a series of benefits to the employees
● Ensuring flexible and robust opportunities for growth
● Looking for new talent constantly
● Feedback to prospective employees
● Designing and implementing an interview process that is compact and fits in an optimal timeframe
● Monitoring the reviews pages of your company on various online platforms
● Letting the experts take the interviews
● Making it comfortable in WFH setups
How can the right talent help your company grow?
The right talent in the team means your business can become more competitive. An employee is confident about making decisions that benefit the company’s growth.
The presence of the right talent enables the business to strengthen its prospects through better expertise, knowledge updates, etc. It also becomes convenient and easier for your business to penetrate further into the target market. Your company grows sustainably.
Health benefits ensure attracting the right talent
Surveys and research studies have shown repeatedly that the right talent in the industry gets more attracted to companies, especially start-ups, if they offer a series of health benefits. Such facilities play a significant role in gaining the attention of the talent most suitable for the company.
A good group health insurance policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy enriches work culture
An excellent way to start creating and establishing a balanced, happy work environment in your company is by buying a standard group health insurance policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy for your employees.
HR can recommend a suitable group health insurance policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy to the company. In some cases, you can buy the policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy from a reputable insurance provider, too.
It provides more security to the employees. They become surer about medical expense coverage. It helps in improving the loyalty of the employees. They work hard and remain sincere. Their productivity improves. The attrition rate can drop, favouring the stability of the company.
Also, they become delighted to avail themselves of such facilities from the HR department and company as a whole. It is an excellent strategy to not only attract the right talent but also puts a check on the attrition rate.
Ensure buying the policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy from a certified insurance broker
Employee Benefits are a powerful tool associated with “Employee Turnover”. According to a research by Society of Human Resources Management (SHRM) – Over 90% of employees say, benefits will impact overall job satisfaction. Benefits are a huge part of the people strategy. Health Insurance is perceived as a “Must Offer” and Top-most priority in Employee benefits. Employers are increasingly providing healthcare and insurance benefits to retain the right talent.
When you decide to buy the right health insurance for your employees, you should get in touch with PlanCover and place your questions about various group health insurance policies.
Source – SHRM Research report 2018-19
