How to Attract Top Talent in a Competitive Market

Finding the best talent on the market is becoming an increasingly difficult task. With labor shortages and the right candidates being snapped up by competitors, it could leave any organization feeling deflated.

If this sounds like you, you’re not alone.

Why are businesses struggling?

From attraction to retention struggles, businesses are feeling the brunt of the current recruitment challenges, which their in-house teams are exhausted by.

According to 53 percent of employers, it’s not so much the retention that’s posing business problems; it’s attracting valuable personnel who have the potential to uplift the rest of the team and provide key skills to the company.

In the same study, 25 percent of the respondents, who are global business leaders, believe that staff are not reaching their career potential, and this can lead to a decrease in productivity, negative associations with work and an overall downfall in staff morale.

But how do you mitigate it and solve your talent attraction problem?

There are simple methods that you can use to bring in the right talent, and they’re effective.

Build a strong employer brand

Candidates are attracted to brands that seem secure and employee-centric and are trailblazers.

Create an employee referral program

There are many ways to do this, from sharing stories from your current employees to showing off your plans to create an enhanced working or break area.

You could even showcase your company’s purpose, as Gen Zers are becoming more and more attracted to brands with a social cause.

There are many things that you can do as long as they align with your brand’s core values and are authentic.

Another option is to build a referral program.

This works because you’re essentially hiring from within your current employee’s network, and this method can increase your chances of landing better talent than what you’re being handed.

This happens because you’ll be able to cut out the online job board middleman and go straight to your employee’s friend.

Your employees are unlikely to vouch for someone who will reflect badly upon them in the workplace, so it’s a great way to push numbers when you’re desperate for someone to fill a role.

Ramp up your employee benefits

Another thing that is attractive to potential candidates is employee benefits.

According to Avado’s Employee Benefit Trends report for 2024, there are two things that are top contenders for what candidates want to see in a brand.

Mental health and flexible working options.

The report found that companies that offer mental health support report a 30 percent lower turnover rate, and 80 percent of employees would choose a job offer that provides flexible working options over one that doesn’t.

So, focusing your efforts on those two aspects may see a change in your attraction and retention.

Enlisting help from the experts

At Talent Flow Partners, we employ a proven process designed to connect you with top-tier talent that perfectly aligns with your organization’s needs and culture.

We do this by collaborating closely with you to understand your unique requirements and company culture, leveraging our extensive candidate pipeline to find you the best match and managing the entire process, ensuring a smooth transition for both you and the candidate.

If you want to get the best people for your role, contact us today.