How to Attract and Retain Top Talent: Six Strategies
Highly talented business people are similar to exceptionally talented athletes: They often bring the organization that they represent more revenue than it would earn if they weren’t on the payroll. Savvy companies know this and consistently focus on separating the grain from the chaff when it comes to hiring new workers. Once the best workers are hired, however, the focus changes from getting them inside company walls to keeping them there for as long as possible.
Attracting Top Talent
To attract and retain top talent is a single yet dual endeavor. Before a company can show talented employees how great it is to be a part of the organization, it must often draw their attention away from other job opportunities and motivate them to accept the job offer. There are several ways to do this, with the strategies below being three of the most effective ones.
- Company Mission
Workers who are considered top talent often earn the consideration as a result more than pure talent. They’re also placed at the top of the talent ladder because they are highly passionate about the work they perform. Consequently, presenting them with a company mission statement that synchronizes with what they hope to accomplish through their job can be quite attractive.
- Salary / Benefits
After they’ve been in the workforce for a few years, most top talent job candidates are quite accustomed to receiving salary offers and benefits packages that rank at the top of national averages in terms of financial value. If your company hopes to compete with other companies that are trying to land top talent, it should plan on offering an elite salary / benefits package.
- Career Trajectory
Some top talent job candidates won’t hold a position long-term unless their employer offers them a career trajectory that paves the way to elite positions. After all, these types of positions are where their talent would naturally take them. When pitching an offer to a top talent worker for a specific job, be sure to mention other, more advanced positions for which they can qualify.
Retaining Top Talent
Many companies consider retaining top talent to be the hardest part of the how to attract and retain top talent equation. This is because highly talented workers have a reputation for moving from position to position until they finally discover the perfect work opportunity. Below are three time-tested strategies that companies can use to provide this type of employment opportunity.
- Performance Bonuses
For workers who have the talent to control their financial destiny at a company, performance bonuses are better motivators than flat bonuses, as they allow workers to truly earn more money from working extra hard. Flat bonuses help control expenses, but performance bonuses can offer something better: A sustained revenue boost from top workers performing their best.
- Incentive Travel Trips
Like performance bonuses, incentive travel trips reward workers for working diligently, but instead of offering a bonus check, the trips pay workers’ way to exciting destinations, where they experience elite lodging, dining and leisure activities. All the while, the trips help employees form closer relationships that increase their dedication to the company’s team environment.
- Hiring Other Top Talent
Because the financial rewards employees receive for top performance are tied to the financial performance of their employer, one of the best ways to keep top talent employed is to surround it with other top talent. This strategy also helps prevent top workers from feeling as if they need to carry their department on their back to achieve success — a situation that increases stress.
Interested in Incentive Travel Trips?
If your company is searching for effective strategies for retaining top talent, offering incentive travel trips should be at the top of the list. To help companies attract and retain top talent, Incentive Travel Solutions plans and executes elite incentive travel trips, handling all of the trip details so you and your best employees can simply relax and enjoy the special occasion.
To start the trip planning process, contact one of our travel specialists today by calling (704) 540-1482. We will help your company plan trips that its top performers will never forget!