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Finding And Sustaining Top Employees
Good human resources are hard to find. It may be easy to fill unfilled positions if you are a huge, well known, firm (like Google), but there is a huge challenge attracting (and keeping) top performers if you are smaller and not well known. As a New York Recruiter this is a challenge I face on a daily basis, particularly since I compete with fellow Recruiters in New York.
As per chief executives and industry recruiters, who were interviewed for this report, there are three main areas on which to consider: the quality and market position of your product or service, environment, and remuneration.
Innovative technology and a high perception of quality will attract top technical and design people, salespeople and support people, all for different reasons. Technology people relish the challenge of developing something new, plus they need ongoing chances for skill improvement to remain updated.
As for top sales people, a strong product means they can earn bigger commissions, and their self-esteem are fulfilled by being on the cutting edge. And top support people are smart enough to know that a quality product makes everyone's job simpler, and it enables them to earn their incentives. For everyone, superior products will earn your company better returns, enabling more reinvestment in R&D, offering challenges and adventure for your technical people, and additional and better product for your sales and marketing people.
The following factors play a large role in the decision of an employee to join a firm:
Environmental factors - the corporate philosophy, the caliber of co-workers, the attitude of your management team, and your physical environment can be crucial in finding and retaining talented people.
Corporate culture is one area smaller companies have an edge - that "hell-bent-for-leather" approach makes it exciting and challenging to accept the job, and there are not much layers of bureaucracy people find so stifling. Real teamwork, where success is shared and the team emphasizes a common commitment, will draw other experts.
Having a smart, talented staff will attract more smart, talented people. So will a collegial atmosphere which values the opinions of the rank-and-file along with open-management policies keeping the teams informed on the state-of-the-company.
A training plan, well thought out career paths and professional conference attendance are other ways to attract and keep people. Other small but significant options include dress code, flexible work hours, telecommuting, offices with walls - these all help.
Last is the of compensation. The big salary problem is no matter how much you pay; a competitor can offer a little bit more. So in terms of salary level itself, you simply have to be at or close to your market value.
Equity - stock awards, options and equity-like phantom stock - is a powerful way for smaller companies to enchant people at all levels. Plus, smaller companies can allot equity without the usual waiting period required by public and bigger companies.
What does all this mean in real terms? Even if you are not a Manhattan recruiter, some of the suggestions in this article are difficult to implement than others, and some illustrate conditions you simply can't achieve. Must you arrange for every item stated above? Of course not, but methodically providing your people with the challenge to be their best, the opportunity to gain knowledge, the freedom to be creative, the incentives to perform and produce, a feeling of ownership, and the esteem as professionals - these are the aspects that will make talented technical and sales people want to join your company, and have them continue.
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