As of January 2020, the United States unemployment rate was 3.6%, which is great for workers, but makes it more challenging for companies to retain their employees.
With such a low unemployment rate, it means workers have more options. If they don’t like the culture, development opportunities, or salary at one organization, they’ll jump to another one. In addition, now employers have to worry about other businesses trying to recruit their existing employees.
However, you can make this work for you by laying the groundwork for employee retention during the attraction stage of the employee life cycle.
What is the employee life cycle?
The employee life cycle is an organized way to look at the different stages an employee follows within your organization.
Attraction > Recruitment > Onboarding > Development > Retention > Separation
The Attraction stage is where prospective employees are investigating new employers to discover where they could fit.
Did you know that 50% of job searchers say they wouldn’t work for a company with a bad reputation—even for a pay increase?
Your challenge during the attraction stage is to educate candidates on why they should come work for—and stay with—your organization. Training programs can help you set your best foot forward to turn potential applicants into super fans that want to join your band.
Here’s the shortlist of the essential information candidates will be looking for during this stage:
- Job requirements
- Company culture and brand
- Benefits included
- Options for career development
- Opinions of your organization from outside sources
Incorporating training into the attraction stage starts internally.
Train your current employees on how to talk about the company on social media and through their daily interactions with potential applicants. Update your website to include information about your company culture, leadership team, and development opportunities offered to your employees.
Use your company social media accounts to educate externally. Share video clips and photos of fun company events or volunteer activities you sponsor. Highlight awards and other big wins. Put your best foot forward to attract the best talent.
Want more employee retention tips?
Download our free eBook, Retain Your Employees: 6 Key Stages to Include Training.
