Building the recruitment and retention bridge

How companies can win the war for talent. 

In today’s highly competitive recruitment market, companies need to find ways to differentiate themselves from other organisations. The first requirement for employee appeal is a strong employer brand. This concerns the character and feel of the organisation as an employer, what it’s like to work for, its policies and culture. Major organisations have focused their attention on developing a strong employer brand, related to the overall brand image, to increase their appeal to employees.

JG Consulting’s Jeff Grout, who is business manager to World Cup winning England rugby coach, Sir Clive Woodward, advised: ‘When building an employer brand, it is essential for any organisation to have a clear understanding of how employees – current, past and potential – see the opportunities offered by working there. In other words, employers need to have a good idea of why people join them, stay on with them and also why they leave.

‘Many factors can influence such decisions, such as the pace of career development, salary and benefits, the extent of personal challenges, international exposure, job satisfaction and the quality of leadership. All these factors relate to the strength of the organisation’s employer brand and the way that it is perceived internally by current employees and externally by potential future recruits.’

Look at the benefits

Organisations need to focus on how to develop their existing employees and make retention a year-round priority. It is vital that firms redefine the benefits on offer if they want to recruit and retain the best people. According to the recent Robert Half Finance & Accounting Salary & Benefits Survey, a quarter of all those accountants looking to move jobs are doing so to improve their work/life balance.

With a dearth of quality candidates and high staff turnover it is essential companies look hard at what they offer their staff. Are they seen as an appealing employer to the accountants coming through? Packages need to be reviewed to ensure they strike a balance between financial reward, career development and providing incentives that reflect a work/life balance such as flexitime, extra holidays and gym membership.

At a recent Robert Half International roundtable 12 chief financial officers and directors from a cross section of the UK’s top companies met to discuss what organisations need to do to address the skills shortage and the ‘war for talent’. One of the key findings was a need to focus on the individual: companies need to vary their recruitment approaches to account for different people with different needs.

Staff are an integral part of business planning and success. How companies look after employees and build the recruitment and retention bridge will make the difference between winning and losing the war for talent.

To find out more about the recruitment and retention bridge and how to create the right working environment for your employees, book your place at the CIMA Training Conference on 11 October at the CBI Conference Centre, London. Visit the conference web page to read the programme and book your place, contact Imogen Cooper on 020 8849 2265, or email imogen.cooper@cimaglobal.com.

July 2006