When attracting the best talent: what really makes a difference?

In today's competitive job market and with so many organisations trying to do more with less, it’s vital for your business to hire efficiently and this means attracting and retaining the best talent.

In this article, one of our outplacement specialists, Rhiannon Rowley, shares her experiences of delivering outplacement support to those going through redundancy, and what this experience has taught her about what talent values in a prospective employer.

Key takeaways

By reading this article, you’ll:

1. Learn what modern talent values in a new role and employer
2. Understand how you can stand out in a crowded job market
3. Discover how you can optimise your Employer Value Proposition (EVP)

What really sets an employer apart?

One of the unique perspectives we have within NFP’s people and talent division is direct access to a pool of active, engaged job seekers on a daily basis. Through delivering our comprehensive outplacement support, our team of experienced coaches are supporting job seekers decide between different organisations and where to best invest their time and energy as they make their next career move.

So, what really sets an employer apart to attract the best talent?

The role of salary and ‘traditional’ benefits

Salary and traditional benefits are of course among the first things a prospective employee bases their next career move on. People want to be paid a fair wage for the work they are doing and the experience they bring, alongside knowing that they are going to be looked after by their employer. That said, while salary and benefits need to be competitive, I regularly work with candidates who receive more than one job offer and accept the lower salary due to a more comprehensive holistic package.

Flexible working

Flexibility in the workplace has become a significant deciding factor for many candidates. However, where this can get complicated is what your organisation defines as flexible and what prospective employees want from flexibility.

Research from Stamford University tells us that candidates value hybrid working as much as an 8% pay rise. The shift to hybrid working post Covid has given candidates more freedom in how they work and has also allowed more people to stay in or re-enter the workforce, such as parents of young children juggling a career with school drop offs and childcare. I also speak to a lot of younger employees who want the autonomy to go to the gym during the day, who do their best work after 5pm, or who are concerned about the environmental impact of making people commute 5 days per week. Ultimately, people want work to be aligned with their life and values and feel more empowered to expect this than 5 years ago.

Some key considerations for employers include:

• Think about what your organisation really needs in terms of on-site presence and clearly communicate this at the time of advertising roles
• Don’t assume what people want – give them an accurate picture of the reality and let them make an informed decision
• Consider and acknowledge your Corporate Social Responsibility in terms of your approach to office presence

Alternative benefits and policies

Once you’re clear on your salary and traditional benefits package, think about what else you are offering to employees beyond your legal obligations.

Family forming benefits are currently one of the big trends in employee benefits, incorporating paid-for support for things like fertility treatment, accompanied by policies that support this. If you have a fertility policy, a menopause policy, and/or enhanced parental leave, these are all things candidates want to know about at the point of applying to your organisation. Most of these things traditionally sit in your employee handbook and aren’t typically shared with applicants and it’s usually something they are hesitant to ask about for fear of it reflecting negatively on them. However, letting people know how you will look after them and their life as a whole is very attractive and can help you differentiate yourself from your competitors.

It would be a challenge to ensure you have a benefit or policy to appeal to every individual circumstance, but the good news is you don’t have to. Simply proving yourself to be an employer that supports your people throughout their employee journey, both in and out of work, can help you stand out in a crowded job market, whether candidates stand to benefit personally from these policies or not. 

Considerations for employers include:

• Review your employee benefits
• Consider asking your employees what makes a difference to them rather than benchmarking the competition
• Think about your wider policies that might make a difference to prospective employees
• Proactively make information available before contracts are signed 

Recruitment process and candidate experience

A transparent and well-managed recruitment process is fundamental in attracting top talent. I’ve worked with many candidates over the years who have withdrawn from a recruitment process due to how it’s been handled, despite being very interested in the role. Confusion, lack of communication, or an overly prolonged process can all alienate potential candidates and plant seeds of doubt.

Everyone understands that sometimes timescales or requirements change, but candidates value honesty and clarity, so make sure you are communicating any changes in good time and being as transparent as possible. 

A well-structured hiring process reflects positively can also enhance your Employer Value Proposition. This also extends to looking after candidates well even they are not successful; ensuring a positive experience for all candidates can enhance your reputation and attractiveness as an employer.

Some areas you might want to consider include:

• Make sure you are clear from the start on what your recruitment process will involve
• Consider any accommodations required, e.g. for neurodiverse candidates and be proactive about this
• Communicate with candidates throughout the process
• Remember everyone your candidates interact with is representing your brand

The business benefit – a diverse, engaged workforce

A robust and authentic Employee Value Proposition (EVP) will help you attract the best talent on the market – which will also mean a more diverse workforce. Thinking beyond traditional benefits helps cater for the evolving workforce, bringing diversity of thought and experience and all of the commercial benefits that come with that. Furthermore, a diverse workforce is also more appealing to prospective employees, continuing to help you attract future great hires!