Six ways to attract and retain talent

As the demand for risk, assurance and audit professionals in financial services continues to rise, and with most organisations competing to attract the same talent, it is key for employers to fully understand what motivates candidates and ensure an appropriate strategy is in place to secure the best talent.

Incorporate the below tips into your hiring strategy to help attract and retain top professionals for your organisation.

1. Offer compensation in line with the market

As the last mining boom plateaued, many professionals sought alternative employment in other industries, such as construction. Now, with the returning need for mining workers, employers should capitalise on well-educated, experienced individuals that moved away from the mining industry by encouraging and facilitating inter-sector labour mobility. 

2. Consider flexible working choices, including options for both parents

Now more than ever, candidates have a larger focus on work-life balance. They are seeking employers that promote agile working and allow employees to change their hours or location depending on their circumstances. A cohesive strategy for supporting women during maternity leave and providing a structure for their return is vital in mitigating employee attrition. More importantly, companies should extend both adequate leave and flexible working options to working fathers as well.

3. Have clear training and development programmes

Companies who offer cutting-edge projects and substantial personal development opportunities will be those who attract and retain the best talent. A comprehensive learning and development strategy can help plug technical gaps, whilst also helping to ease the disconnect between skills that the next generation of talent are being taught and what businesses need.

4. Showcase company culture

Candidates are often keen to understand the culture within a business and want to work for organisations that are ethically sound. An employer brand that embodies forward thinking with regards to risk and compliance will be an employer of choice for top professionals.

5. Include employees in decision-making

Create roles where candidates can have an impact on the overall strategic direction of the business and feel part of the decision-making process driving the company. This can aid retention as employees have a sense of achievement from contributing to the development and growth of the organisation.

6. Establish an efficient hiring process

Employers must ensure they have compelling value propositions and streamlined recruitment processes. As professionals tend to receive multiple employment offers, companies that provide feedback efficiently and have quicker interview processes will invariably secure talent ahead of their competitors.

Visit the hiring advice section of our website for more hiring tips, or contact Georgia Whiting on 02 8289 3249 for assistance with your hiring requirements.


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