The recent surge of job opportunities for retired persons [acclaimed as top talent] bears testament to the evolving hiring trend within the corporate sphere. Most businesses strive to find a complete balance between maintaining a robust recruitment process and implementing a tactful employee retention strategy.
Attracting and retaining top talent is no longer a mere HR function in today’s competitive and dynamic business landscape. Studies by McKinsey & Company have shown that hiring top talent assists a corporate agency to operate 8 times more productively.
Hence, having the right blueprint to attract and retain top talent has become a crucial growth strategy for businesses. Working professionals possessing adequate industry-specific experience, enhanced decision-making ability, and the potential to lead from the front are classified as top talents.
All of the above-mentioned attributes are effectively fulfilled by experienced retired professionals. So, how can a business become a talent magnet to recruit top talent?
This blog explores the 7 pillars of attracting and retaining knowledgeable retired professionals [top talent] and effectively debunks how organisations can hack the human desire for growth, purpose, and belonging for a long and fruitful engagement.
1. Prioritise culture when hiring — and afterward
A recent study by FlexJobs’ 2022 Career Pulse Survey stated that out of 4000 employees, 63% opted to choose a better work-life balance over better pay. Therefore, to recruit and retain top talent, an organisation needs to invest in building a better work-life balance and hospitable office culture.
An organisation needs to ensure that its employees’ mental health is given the highest priority to effectively influence retention. So when trying to attract top talent, a business must ensure that they prioritise a healthy office culture above all else.
2. Develop a top-tier onboarding process
When trying to recruit top talent, businesses should inculcate an engaging onboarding process instead of the boring paperwork and endless training manuals. Rather efforts should be allocated to making the onboarding process interactive and engaging. During onboarding, make creative presentations about the company’s DNA, the role, and the growth opportunities of the new joiner.
Introduce programs like buddy programs, mentorship programs, and workshops. The implementation of this strategy exhibits the healthy work culture of the company concerned, in turn, helping talent to settle down quickly and steer the business’s goal in the right direction.
3. Make employees feel valued with recognition
Employees are any company’s greatest asset. Spending time with every individual and motivating them throughout will benefit the company in the long run. For this reason, the best strategy to recruit top talent and retain them is building a work culture that publicly acknowledges their contribution.
A simple “Thank You” can go a long way! Businesses can opt for programs like monetary rewards, public acknowledgments, shout-out meetings, and more to increase employee recognition. Organisations should make their top talent feel valued for their contribution, which will motivate them to give their best and stick around for a long time.
4. Prioritise and monitor employee engagement
Whether a business is looking to hire experienced retired professionals or budding top talents, keeping them disengaged can be detrimental to the firm in the long run. If there is a lack of engagement, then the employee will feel uninspired and will be more likely to move on to better opportunities.
Businesses should prioritise regular engagement sessions to retain top talent. They must regularly conduct employee engagement surveys, hold one-on-one conversations, and formulate focus groups to acknowledge the challenges/concerns faced by an individual. When employees feel that they are heard and valued, it automatically stimulates better productivity.
5. Incentivise with a great overall package
Competitive compensation is one of the substantial ways to attract and retain top talent. However, there is a slight shift in employee psychology as businesses are expected to offer more than monetary compensation. The current generation workforce looks for a better work-life balance apart from monetary benefits.
Businesses can offer flexible working environments, opportunities for personal growth and development, and also generous leave policies. Companies need to think out of the box to ensure that their workforce is satisfied in every aspect of life, to effectively retain them. Working with a flexible operations plan significantly boosts morale.
6. Foster a sense of belonging and inclusion
A workforce that considers itself to be an active part of the organisation can do wonders for the business. Corporate agencies should try to create a diverse work environment where people from all ethnicities, cultures, and backgrounds are welcomed with open arms. The leadership roles must be diversely represented, resonating with the warmth and welcoming work culture of the organisation concerned.
7. Follow through on initiatives with meaningful action
Only formulating strategies but not implementing them results in zero progress. Hence, to attract and retain top talents, companies should implement policies where the values and promises made to the workforce of the businesses are upheld.
This includes engagement events, transparent communications, acknowledgment of work done, motivating employees, and more. Following up on these policies daily will ensure that employee expectations are fulfilled. This type of healthy work culture is the real hack for attracting and retaining top talent.
Conclusion
To become an industry leader, a business must first be trusted by its own workforce. If a business offers a transparent and positive work environment it will attract and retain top talent.
When trying to identify top talent, businesses should not overlook the expertise and knowledge that come with retired personnel. Experienced professionals have a lot more to offer. So don’t let age be a restriction. WisdomCircle is one such platform that bridges the gap between skilled retired professionals and businesses. Our platform allows competitive business firms to list job opportunities for retired persons for effective top-talent recruitment.
