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Slide 1We love to create remarkable experiences… every person, every time.® Attracting & Retaining Top Talent Presented by: Ledgent Finance & Accounting,

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Presentation on theme: "Slide 1We love to create remarkable experiences… every person, every time.® Attracting & Retaining Top Talent Presented by: Ledgent Finance & Accounting,"— Presentation transcript:

1 Slide 1We love to create remarkable experiences… every person, every time.® Attracting & Retaining Top Talent Presented by: Ledgent Finance & Accounting, a Roth Staffing Company

2 Slide 2We love to create remarkable experiences… every person, every time.® Today’s Topics The current job market is the hottest we’ve seen in nearly a decade. Competition for the best talent is fierce, and employers need to make an extra effort to recruit and retain top talent. Today, learn how to: 1.Become an employer of choice 2.Navigate the Skills Gap 3.Attract the very best talent 4.Keep top performers at your workplace 5.Promote a culture of engagement

3 Slide 3We love to create remarkable experiences… every person, every time.® The Enemy of Every Employer: The Skills Gap The skills gap is affecting industries and regions nationwide According to the American Staffing Association, more than 150 positions nationwide are considered “hard- to-fill,” meaning the demand greatly outweighs the supply of qualified candidates You may already be familiar with how difficult it is to recruit and retain these positions… (cont’d on next slide)

4 Slide 4We love to create remarkable experiences… every person, every time.® The Enemy of Every Employer: The Skills Gap (cont’d) Among the hardest-to-fill positions in the current market, according to the ASA’s data and Ledgent’s research, are: –Accountants –Financial Analysts –Accounting Managers –Controllers –Financial Managers

5 Slide 5We love to create remarkable experiences… every person, every time.® Supply and Demand Data: South Florida Here’s just one snapshot of the candidate supply and demand data sourced by Ledgent through CareerBuilder’s Supply & Demand and Compensation portals In the Fort Lauderdale, West Palm Beach, and Boca Raton area, payroll professionals like Payroll Specialists, Payroll Clerks, and Payroll Administrators are in high demand! While there are 465 job postings for these positions, there are only 150 active candidates available.

6 Slide 6We love to create remarkable experiences… every person, every time.® What does this mean for you? It’s going to be harder to locate qualified candidates and then keep them engaged at your workplace. In fact, you may already be feeling the shortage! Your finance and accounting firm or department will need to employ the following strategies in order to recruit and retain top talent

7 Slide 7We love to create remarkable experiences… every person, every time.® Recruiting Top Talent: Becoming an Employer of Choice Becoming an employer of choice isn’t just about providing fair, competitive compensation. Sure, that’s a piece of the puzzle, but it’s also about these factors: –Building the best job postings –Offering a great workplace culture –Screening for the perfect fit –Reaching out to passive candidates

8 Slide 8We love to create remarkable experiences… every person, every time.® Recruiting Top Talent: Building the Best Job Posts Job posts are often the first interaction that candidates have with your organization, but do yours really represent your company and appeal to the right candidates? Best practices for crafting the best job posts: –Include graphics such as logos and slogans Featuring a logo is the simplest branding technique, and it can increase the number of submitted applications by 8% according to CareerBuilder! –Feature a video or links to demonstrate work culture Now is the golden age of video, thanks to social media A short video is a great opportunity to show your unique company culture and appeal to candidates (cont’d on next slide)

9 Slide 9We love to create remarkable experiences… every person, every time.® Recruiting Top Talent: Building the Best Job Posts (cont’d) –Highlight relevant job titles and keywords Utilize recognizable, common job titles in the heading. Intersperse phrases like “finance and accounting,” “payroll,” “A/P” when advertising a payroll position, for example –Format and design posts appealingly 75% of candidates claim that the appearance of job postings affects their choice to apply Take time to design your postings and utilize bulleted lists –Touch on compensation information Don’t skip over this! Including even general information is better than nothing

10 Slide 10We love to create remarkable experiences… every person, every time.® Recruiting Top Talent: Compensation, Bonuses, and Perks In a survey of top performers, 16% of employees claimed that compensation matters most when considering a career position (second only to challenging and meaningful work, ranked #1 by 20% of employees) Be sure to do your homework when it comes to candidate market value! Offers should be fair and competitive. –Consult resources like Ledgent’s Salary & Management Resource Guide to uncover appropriate compensation ranges for a variety of positions in your region –Don’t forget the role of extra benefits as well, such as health insurance, 401(k) options, profit-sharing, and vacation packages

11 Slide 11We love to create remarkable experiences… every person, every time.® Recruiting Top Talent: Offer a Great Workplace Culture With so many options, why should candidates join your organization over another? Now more than ever, the answer is workplace culture! According to Quantum Workplace, the top driver of employee engagement is “The leaders of this organization are committed to making it a great place to work” When recruiting talent, showcase a true representation of your firm or department’s workplace culture and the role of each employee

12 Slide 12We love to create remarkable experiences… every person, every time.® Recruiting Top Talent: Offer a Great Workplace Culture (cont’d) When recruiting talent, showcase a true representation of your firm or department’s workplace culture and the role of each employee –For instance, at Ledgent we discuss our Mission, Vision, Core Values, Purpose, and Promise (known internally as our MVVPP) with candidates in the very first interview, and how each coworker is responsible for enlivening or damaging these philosophies –We show that we love what we do, which has helped to recruit coworkers who are passionate about making life better for the people we serve

13 Slide 13We love to create remarkable experiences… every person, every time.® Recruiting Top Performers: Reach out to Passive Candidates Reaching out to passive candidates opens up a new world of possibilities Sometimes, passive candidates are not willing to leave their current positions for temporary or temporary-to-hire positions, particularly in higher-level roles In the staffing world, we’re seeing a steady boom in direct hire (permanent, full-time) positions; direct hire saw a 10% increase in 2014 and has an anticipated increase of another 10% in 2015 Consider partnering with a quality staffing partner that is networked with passive candidates, and opening up positions to direct hire job candidates

14 Slide 14We love to create remarkable experiences… every person, every time.® Retaining Top Performers Your job isn’t done after recruiting talented candidates! You still need to keep them engaged and passionate about your organization. Here’s how: Provide challenging, purposeful work Build a detailed success path Implement and promote development and engagement programs

15 Slide 15We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Provide Challenging, Meaningful Work A comprehensive survey of top performers completed by a well-known recognition program found that the #1 attribute most desired in a job was “challenging and meaningful work” –20% of all respondents claimed this was the most important element in any role! –This spans across the professional, technical, and engineering sectors

16 Slide 16We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Provide Challenging, Meaningful Work (cont’d) Managers can employ these strategies to ensure that talent feels challenged and engaged in the workplace: –Carve out one-on-one time to discuss the types of tasks they found challenging yet rewarding the in past –Set a lofty project goal and schedule regular follow-up meetings to discuss challenges and innovative solutions –Focus on leveraging each employee’s strengths; the Gallup Organization found that employees who have opportunities to utilize their core strengths are 6 times more likely to be engaged in their roles than those who do not

17 Slide 17We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Build a Success Path Start with the right culture fit rather than just focusing on skills. With proper on-boarding and training, the “talent” can become the “talented” –Don’t let skills trump culture fit! Help employees discover interests –Research done by Ledgent and Curt Coffman, Chief Science Officer of The Coffman Organization and bestselling author, shows that employees feel most successful when they spend a majority of their time doing the things they love –Being allowed to spend 60% of their time pursuing their passions leads to engagement and job satisfaction –Uncover their unique skills and align jobs with these strengths

18 Slide 18We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Build a Success Path (cont’d) Focus on the energy of engaged employees –The Coffman Organization’s data suggests that only 42% of employees are actively engaged in the workplace, while 23% are neutral “passengers” and 35% are actively disengaged –Gallup claims that worldwide, only 1 of every 8 employees is engaged –It’s tempting to focus on the weakest, most disengaged workers… but paying the most attention the strongest, most high performing employees can maximize their engagement and the engagement of the coworkers around them Turn “passenger” employees from apathetic to engaged, and already engaged employees into die-hard fans

19 Slide 19We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Build a Success Path (cont’d) Recognize achievement –82% of top performers at Top Employer organizations say they’re praised when they do a good job –Celebrating little wins can create positive momentum to reach more significant accomplishment, and increase attendance and retention –Mirror practices from “Best Place to Work” organizations Financial rewards such as cash bonuses Compassionate leadership and attendance from management Verbal and written praise Opportunities to build relationships such as best friends or mentor- mentee Other incentives like a Top Performers trip or even a simple statement of recognition and “thank you” at a departmental meeting

20 Slide 20We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Implement Development and Engagement Programs Emphasize on-boarding and integration from day one –According to the Society of Human Resource Management (SHRM), employees have approximately 90 days to internalize the skill set, behaviors, attitudes, and knowledge to successfully fulfill their role –The sooner your department or organization is able to effectively integrate new hires and equip them with the tools for success,the higher the probability of long-term achievement and engagement

21 Slide 21We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Implement Development and Engagement Programs (cont’d) Define success immediately, and be upfront! 48% of people who quit within the first year say it as due to the unrealistic expectations of the job –Ledgent’s research shows that top performers define success in four elements: Clearly understanding responsibilities and how success will be measured Deriving meaning and a sense of accomplishment from work Being a part of the company culture Building solid relationships with the team/department

22 Slide 22We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Implement Development and Engagement Programs (cont’d) Cultivate a positive work environment and relationships –22% of new employees decide whether to stay at an organization during their first week on the job, and a significant amount decide within the first 3 weeks –SHRM found that 60% of managers who fail during the on- boarding stage point to being unable to cultivate positive working relationships as the main reason –On the other hand, 87% of the best on-boarding and training programs include mentoring—which shows just how important that one-on-one attention can be –A buddy system and gaining a best friend in the office increases retention by 25%

23 Slide 23We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Implement Development and Engagement Programs (cont’d) Don’t overlook the importance of training –41% of employees at firms with inadequate training programs plan to leave within a year, says the Association of Talent Development –Conversely, only 12% of employees at organizations with excellent training and development programs plan to move on Therefore, don’t stop at on-boarding and integration— continually develop coworkers’ skills and knowledge base –Offer a variety of training programs and styles, from gamification to classroom work to “train by doing,” to appeal to different types of learners –98% of top workplaces find in-person training effective (cont’d on next slide)

24 Slide 24We love to create remarkable experiences… every person, every time.® Retaining Top Performers: Implement Development and Engagement Programs (cont’d) Develop the technological infrastructure necessary to support training Budget for training –If you don’t have the extra resources, consider tying compensation to development programs and performance, like 64% of top performing organizations do with management positions

25 Slide 25We love to create remarkable experiences… every person, every time.® Conclusion Thank you for your time. Questions?


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