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Hiring And Keeping Skillful Human Resources
Good employees are hard to find. It may be easy to fill unfilled positions if you are a huge, reputed, corporation (like Google), but there is a huge challenge attracting (and keeping) best performers if you are smaller and less well known. As a New York Recruiter this is a challenge I face on a daily basis, particularly since I compete with fellow Recruiters in New York.
According to chief executives and industry recruiters, who were interviewed for this article, there are three main areas on which to consider: the quality and market condition of your product or service, environment, and compensation.
Innovative technology and a high vision of quality will lure top technical and design people, salespeople and support people, all for different reasons. Technology people relish the challenge of developing something new, plus they need ongoing opportunities for skill enhancement to remain updated.
As for top sales people, a powerful product means they can earn bigger commissions, and their egos are fulfilled by being on the leading edge. And top support people are sharp enough to know that a quality product makes everyone's job easier, and it enables them to earn their incentives. For everyone, superior products will earn your company better returns, enabling more reinvestment in R&D, providing challenges and adventure for your technical people, and more and better product for your sales and marketing people.
The following factors play a large role in the option of an employee to join a company:
Environmental factors - the corporate culture, the caliber of co-workers, the outlook of your management team, and your physical environment can be crucial in finding and retaining talented people.
Corporate culture is one area smaller companies have an edge - that "hell-bent-for-leather" attitude makes it exciting and challenging to come to work, and there are not much layers of bureaucracy people find so holding back. Real teamwork, where success is shared and the team affirms a common commitment, will draw other experts.
Having an intelligent, talented staff will captivate more smart, talented people. So will a collegial atmosphere which values the opinions of the rank-and-file along with open-management policies keeping the troops informed on the state-of-the-company.
A training plan, designed career paths and professional conference attendance are other ways to attract and keep people. Other small but noteworthy options include dress code, flextime, telecommuting, offices with walls - these all help.
Last is the matter of compensation. The big salary problem is regardless of how much you pay; a competitor can pay a little bit more. So in terms of salary level itself, you simply have to be at or near your market rate.
Equity - stock awards, options and equity-like phantom stock - is an impressive way for smaller companies to entice people at all levels. Plus, smaller companies can grant equity without the normal waiting period required by public and larger companies.
What does all this mean in real terms? Even if you are not a Manhattan recruiter, some of the ideas in this article are harder to implement than others, and some illustrate conditions you simply can't accomplish. Must you arrange for every item mentioned above? Of course not, but methodically providing your employees with the challenge to be their best, the opportunity to learn, the freedom to be creative, the incentives to perform and produce, a feeling of ownership, and the respect as professionals - these are the things that will make talented technical and sales people want to join your organization, and have them stay.
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