It’s no secret that the United States is facing a labor shortage. Right now, there are more than 380,000 unfilled jobs in the Dayton region. Businesses are short-staffed, and hiring managers are facing fierce competition.
It’s true that salary range can make or break the hiring process. Employers should be doing regular comparisons to ensure their salary offer is competitive. But there are simple strategies to attracting and retaining employees that don’t necessarily cost your business in dollars and cents. Here are 4 of them!
1. Provide a look into their future
Do your employees know what might lie ahead for them? Employees want to know their employer sees a path for career growth for them, and they want to know what that path might look like. Talk with your employees from day one about their goals, and your intention for their future.
According to Harvard Business Review, 82% of employees believe they need to improve their current skills or gain new ones annually in order to stay competitive. In the Dayton region, tools exist to better connect up-and-coming professionals with the community, and the skills they need to grow. Consider sending young professionals (YPs) to networking and skill-building groups like Generation Dayton, which helps YPs expand their networks, and expand soft skills.
2. Offer Affordable Healthcare
Employees want to know their employer cares about their well-being. Providing just any old healthcare coverage isn’t enough. Make sure the coverage you’re offering is comprehensive and affordable. If you’re concerned about the cost, or if you think your business is too small to offer coverage, look more closely. Pooling your coverage with other employers can save you thousands, and these programs, which typically offered through chambers of commerce, offer fantastic coverage. It doesn’t hurt to at least get a quote!
3. Spend time training effective leaders
There’s a saying that people don’t quit a job, they quit a boss. It’s true. Your employee retention is only as good as your business’s leadership. Keep in mind that being a great supervisor isn’t necessarily something that comes naturally. Effective managers have to be trained to empower employees, and manage a workload that plays to their strengths.
Think about providing opportunities for regular leadership training for your managers. Local programs like Leadership Dayton can expand community networks, and provide a greater connection to the community. For women business leaders, consider a program like the Dayton Area Chamber of Commerce’s Empower, which provides business coaching and additional training on personal branding and conscious leadership skills.
With a little planning and investment of time, you’ll be well on your way to a better company culture, and better retention of your business’s most valuable asset: your employees.
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