Juggling Recruitment and Retention Rates

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recruitment and retention

Recruitment and retention are two significant aspects involved in running a company. Organisations can significantly improve their both practices by maintaining a consistent structure spanning selection, vetting, and onboarding processes. Additionally, a positive workplace culture contributes to the longevity of staff through an environment that fosters trust, collaboration, and lifelong learning. 

The balance between recruitment and retention might prove challenging for organisational leaders, but the link is symbiotic. A robust recruitment strategy will pave the way for improved employee retention rates, enabling more cost-effective operations. 

Understanding the Core of Recruitment 

Ultimately, recruitment goes beyond hiring. It is a proactive organisational campaign that helps companies find the right job fit every time. Recruitment policies and approaches should always be a living document, shaped continuously and revised according to the shifting work climate and economies. 

While retention maintains the expertise and skill set of proven achievers at the workplace, recruitment is necessary for long-term sustainability. Organisations require a reliable recruitment strategy to enable a “passing of the baton” and keeping the workplace a well-oiled machine. New hires can breathe positive change into an organisation, dispelling the monotony and complacency among seasoned employees. 

When done right, recruitment will ensure an uninterrupted stream of certified and dependable employees who align organisational values with individual goals, essentially those who stay for the long-run. 

Understanding the Core of Retention 

Retention is equally vital in optimizing the workplace climate. The cost of staff replacement may take a toll on organisational revenue – through various considerations. For example, companies will need to spend time and money interviewing, screening, and training new staff – without assurance that they will reach (or surpass) the efficiency of former employees. 

Staff replacement cost varies according to the experience and seniority (pay scale) of employees, and even the replacement of low-paying (and high-turnover) positions can cost thousands of dollars. Hence, retention strategies will help companies avoid the costly consequences of unhappy staff. 

Optimizing Recruitment Strategies 

The most effective recruitment strategies involve sincere communication between candidates and employers. Organisations should prioritise relation-building, enabling candidates to experience the hospitality and positive vibes of the company work culture. Also, while job applications may come in droves, it helps to learn more about shortlisted candidates. 

A glance through a candidate’s LinkedIn profile may uncover valuable information (i.e., inferring the strength of their online presence from the number of likes received or established LinkedIn connections) not typically found in a CV. These bits of additional detail can help organisational leaders and managers dive into more in-depth discussions during an interview and guide them towards identifying the right fit. 

Fine-tuning Interview Processes

Personalisation makes a big difference under any circumstance. Modern consumers enjoy it, students appreciate it, and the same should apply to the hiring process. While it is impractical to draft personalised interview questions for hundreds of applicants, hiring managers can work wonders with personas. 

Similar to conventional buyer personas, candidate personas comprise valuable research complied from recruitment processes and organisational goals. A tailored interview process will engage and involve candidates from the beginning and help them connect with the company. Interview questions may include “how will you stay connected with your teammates during a lockdown?” or “how would you attract more visitors to our home page?”

Share More About the Company Culture

Company culture plays a huge part in drawing the best candidates. According to a job seeker nation study, 46% of participants attributed work culture as a massive factor in seeking a new job. There are many effective ways to introduce company culture before a candidate even steps foot into the front door of the office. 

Social media is one powerful modern tool that promotes workplace culture. Managers may post employee spotlights and testimonials to show how individuals have enjoyed their time spent at the organisation and developed their careers. These testimonials may include quality videos and images (effective visual cues) that embody the company culture. Visual storytelling can result in great response rates, concluding how the individual can play a defining role in the organisation’s ongoing narrative. 

The goal is to show how much an organisation values community and employee satisfaction – something special that candidates can look forward to on top of receiving a monthly salary. 

Organising Recruitment Events 

Nothing beats face-to-face communication (although this is understandably a challenge with the new normal). When the opportunity arises, organisational leaders and recruiters may consider hosting or attending industry events (i.e.career fairs). These events offer the chance of presenting attendees/candidates with a useful “orientation package” that might serve as part of the onboarding process. 

The package might include brochures, pamphlets (with links to the official organisation website and social media accounts), and perhaps a small souvenir to thank them for their interest. However, the package should only be a supporting component in the event. The main draw comes from the first-hand experience in meeting and greeting current employees and having a taste of the company spirit. 

Recruiters may consider appointing top-performing staff as guest speakers or model ambassadors at the events to share their experiences. A strategic Q&A at the end of a session enables attendees to clear their doubts and understand more about the company culture before committing to the role. 

Pairing Up with Retention Strategies 

High employee retention has close ties with generally positive workplace culture. While traditionally, attractive monetary benefits have kept workers satisfied or committed to their jobs, the overall attitude has changed. Modern workers seek other priorities at work, including work-life balance, learning and development opportunities, a sense of purpose, and dynamic leadership. 

The jumble of employee requirements boils down to creating a positive workplace culture. Employees wish to report to more than a place where they simply exchange hours for a salary. The new normal has seen the practice in full effect. An increasing number of organisations have opted for method-neutral ways to fulfill their company objectives. Goal-oriented organisational structures have replaced process-oriented styles and have become a norm under remote work conditions. 

A polished recruitment strategy will help companies improve their retention rates by engaging the right person for each role. Engaged individuals will harmonise in a healthy workplace culture that creates a cycle of mentoring, learning, and development. If there was a golden recipe for balancing recruitment and retention initiatives, it should begin by optimising the former. 

Are you looking to revitalize your workplace culture? StrengthsAsia has helped many individuals and corporate clients by empowering leaders and followers throughout the region, enabling breakthrough experiences. If you wish to learn more about the Strengths Leadership Program, please reach out to us here.

Maalikka is the latest addition to StrengthsAsia’s team of marketing and content extraordinaries. As an avid reader, writer and learner, she’s always on the lookout for new information online or interesting conversations to inspire her. Her other passions include gaming, Netflix and cats.

A devotee at the altar of language and a celebrant of expression. Laurenzo has written for various SMEs, MNCs, startups and international brands over the last three years. He specializes in topics of psychology, lifestyle, employee management, and digital trends.

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