What is the best way to attract and retain highly skilled employees is a question many Human Resource managers come across. A study found that the best way to attract such talent is to provide a clear growth path to candidates and employees.
More than 50 per cent of employers surveyed by Timesjobs found that employees were most attracted when their advancement during their tenure at the company is clear. The clarity in skill development and career progression will grasp at the best talent, according to the study.
“While interviewing talent, we have found that the best of them are looking for challenges, diverse opportunities and a clear growth path for the next 3 to 5 years,” says Nilanjan Roy, VP and Head of Strategy, Times Business Solutions.
In addition to this, the other factors that affect talented employees’ choices include flexible work hours (attracts 40 per cent), salary (attracts 30 per cent), Learning and development opportunities (attracts 20 per cent), Post-retirement benefits (attracts 10 per cent) and onsite opportunities (attracts 5 per cent).
This attraction also varies at different levels of experience, according to the study. A clear career growth path is crucial to junior and middle level employees. Salary, learning and development opportunities and onsite opportunities are more attractive to junior level employees. Middle level employees also prefer flexible work hours while senior employees place importance on post-retirements benefits.
The survey found that most employers generally rely on high pay packages to attract and retain talented workers. While nearly 45 per cent said they offered high salaries, only 30 per cent of the employers said they set their hiring parameters on showing a clear growth path— which happens to be the most crucial element of employee satisfaction. Meanwhile, about 20 per cent of the employers noted that they provide good onsite opportunities and post-retirement benefits.