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8 Reasons your competition is poaching your top talent

Are you making some of these mistakes during your recruitment process?

Recruiting great talent is more competitive than ever as top companies battle start-ups and small businesses to get the best workers on board.  Millennials seem to be the cream of the crop with every organisation wanting to attract those with the newest and best skills, but not every business has the budget to beat out the competition.

You may be surprised to know that pay isn’t the top determining factor for many job seekers. Despite your best efforts, you may be scaring job candidates away during your interview process, if not before.  Even after someone has joined your company, they could still be poached by competitors – so what factors influence them to leave? Entrpreneur.com highlights 8 important reasons they could be tempted to leave.

  1. Pay rates

Although pay is not always the main deciding factor, you could be narrowing your talent pool right from the word Go when you advertise the salary rate.  Ensure that the salary range is in line with the averages for your location before you post your job ad, even if you regularly hire for the same position – double check that the wages are still within the correct range.

  1. Stupid questions

Interviews that include trick questions to test how a candidate may respond can actually backfire, especially now that candidates can share this information on sites like Glassdoor. Avoid time-wasting questions during the interview and instead focus on behavioural-type questions that help determine whether the fit is right for both the company and the candidate.

  1. Outdated culture

A fresh group of millennial graduates enters the workforce every year, all bringing new expectations of what work culture should be. That doesn’t necessarily mean kitting out the office with ping pong tables and arcade games. Instead, focus on ensuring each employee has an emotional investment in the work he or she is doing by making your purpose clear to everyone you interview and hire. Employee wellbeing is absolutely key in the workplace and will reap huge rewards if you get it right.

  1. Inflexibility

Research shows that millennials express a preference for flexibility within a job so if you’re still a strict nine-to-fiver, you may not need to look any further to discover why you can’t win top talent. Flexibility includes working hours as well as the option to work from home.  Try to find a compromise between the structured schedule you might prefer and the freedom your employees want.

  1. Lousy benefits

Your benefits package needs to be in line or even better than other employers in your area, otherwise you may be losing candidates on that alone. According to a Monster.com survey, medical insurance is the most popular benefit, followed by holiday time and regular pay rises. If you do offer these perks, make sure you mention them in the job ad and interview, as well as any pension plan you may offer.

  1. Negative online reviews

Although you may be googling potential candidates, you should know that they’re doing exactly the same to you.  Simply entering “working for” and the name of a business will often take someone to online reviews of that business as an employer. Some companies even have reviews for their interview process. Pay close attention to what people are saying about working for your company and try to keep those reviews as positive as possible.

  1. Lack of employee investment

Employee retention can be a problem within most organisations.  People leave due to pay issues, but they also may move to a competitor because they see no future in your company. If you hire from outside rather than promoting from within or fail to invest in training for your employees, you may have an employee retention issue.

  1. Bad management style

Bad management will lead to high turnover of staff, as well as bad word of mouth that will prevent candidates from applying when you advertise an opening. Consider whether you may be engaging in toxic behaviour that is damaging your work environment and keeping morale low.

If you have difficulty winning and keeping employees, your hiring and management practices may need an overhaul. Consider changing your interview questions, your job ad wording, and the work style you expect from your employees so as to attract the top-skilled professionals in your industry.

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