Good human resources are hard to find. It may be easy to fill unfilled positions if you are a huge, well known, corporation (like Google), but there is a great challenge attracting (and keeping) talented performers if you are smaller and less well known. As a New York Recruiter this is a challenge I deal with on a daily basis, particularly since I compete with fellow Recruiters in New York.
As per chief executives and industry recruiters, who were interviewed for this report, there are three main areas on which to consider: the quality and market position of your product or service, environment, and compensation.
Cutting Edge technology and a high insight of quality will lure top technical and design people, salespeople and support people, all for a variety of reasons. Technology people relish the challenge of developing something new, plus they need ongoing chances for skill improvement to remain updated.
As for top sales people, a strong product means they can earn bigger commissions, and their egos are fulfilled by being on the cutting edge. And top support people are clever enough to know that a quality product makes everyone's job easier, and it enables them to earn their rewards. For everyone, superior products will earn your company better returns, enabling more reinvestment in R&D, offering challenges and adventure for your technical people, and additional and better product for your sales and marketing people.
The following factors play a large role in the decision of an employee to join a company:
Environmental factors - the corporate philosophy, the caliber of co-workers, the mindset of your management team, and your physical environment can be pivotal in finding and retaining talented employees.
Corporate culture is one area smaller companies have an edge - that "hell-bent-for-leather" approach makes it exciting and challenging to accept the job, and there are not much layers of bureaucracy people find so stifling. Real teamwork, where success is shared and the team affirms a common commitment, will draw other specialists.
Having a bright, talented staff will captivate more smart, talented people. So will a mutually respectful atmosphere which values the opinions of the rank-and-file along with open-management policies keeping the teams informed on the state-of-the-company.
A training plan, well thought out career paths and professional conference attendance are other ways to attract and keep people. Other small but significant options include dress code, flextime, telecommuting, offices with walls - these all help.
Last is the aspect of compensation. The big salary problem is irrespective of how much you pay; a competitor can pay a little bit more. So in terms of pay level itself, you simply have to be at or close to your market value.
Equity - stock awards, options and equity-like phantom stock - is a powerful way for smaller companies to entice people at all levels. Plus, smaller companies can allot equity without the regular waiting period required by public and larger companies.
What does all this mean in actual terms? Even if you are not a Manhattan recruiter, some of the suggestions in this article are difficult to implement than others, and some illustrate conditions you simply can't achieve. Must you arrange for every item mentioned above? Of course not, but scientifically providing your employees with the challenge to be their best, the opportunity to learn, the choice to be creative, the incentives to perform and produce, a feeling of ownership, and the esteem as professionals - these are the aspects that will make talented technical and sales people want to join your company, and have them stay.
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