In a shifting economic landscape, companies need the best talent they can get in order to keep moving forward. It’s a tight labor market, where the right strategy can be the difference between success and failure. Here’s how your company can get the upper hand.
Treat Your Employees Well
When asked how he managed to retain the immensely talented musicians that made up his band, jazz genius Duke Ellington replied: “I’ve discovered a gimmick: I give them money.”
And while not everything is about money, the basic truth of Ellington’s statement still stands. Treat your employees well from the beginning and the vast majority will respond in kind. Some of the options you may consider include:
- Implement a wellness program
- Make it easy for employees to give feedback
- Provide flexible work options
- Give praise when it’s due
Grow the Talent You Already Have
If your industry is particularly competitive, you may find that growing the talent you already have is a smarter strategy than focusing on star players brought in from the outside.
Growing your own talent is not only less expensive than poaching other companies’ employees, but it also creates an environment where your best employees embody the values and the culture of your organization.
And if the pandemic has taught us something from a management standpoint, it is that company culture is one of the most important assets a business can have.
More Tips and Ideas
From returning to the office after the pandemic to the right structure for your business and everything in between, these are some previous posts you can check out for more ideas on how to lead with confidence:
- How to use social media to grow your career
- 3 Tips to prevent and address employee burnout
- What is candidate ghosting and how to avoid it
- 4 Ways to Get Employee Input
At the Pomona Chamber of Commerce, our mission is to keep you up to date with the most relevant developments in business management and administration so you and your company can take advantage of new opportunities. Contact us by email (email@example.com) telephone (909-622-1256), social media, or click on this link to join and start enjoying the benefits of membership today.