How to attract and retain top talent if you’re not a household name

The war for talent is fierce and it’s only getting more intense. Companies like Google, Microsoft, and even TopGolf offer unparalleled perks and benefits. But there’s a lot more to attracting and retaining top talent.

The talent shortage remains daunting. Baby Boomers are retiring in droves, while Millennials have aged out of entry-level positions. Meanwhile the Gen X and Gen Z groups aren’t filling as many leadership and entry-level roles that have been vacated. Labor economists anticipate that these shortages will become a lasting feature of the market, extending into the late 2030s or even further.

Despite these foreseeable shifts, many companies find themselves in a weak competitive position. Years of underinvestment have made it difficult to convey a meaningful value proposition through a distinctive employer brand. And that should be terrifying for many.

Here’s what you can do to help create competitive advantage for your organization:

It starts with culture

Culture is comprised of the organization’s shared purpose, core values, behaviors and practices. It defines a company’s character and shapes how employees interact with each other, customers and other key stakeholders, and the broader community. Workplace culture can be a differentiator for employee attraction, engagement and retention. Companies who are intentional in designing and living their culture tend to be top performers in their category. And they are more likely to retain employees. According to data from Bonusly, when people are engaged in a constructive culture, they are 87% less likely to look for another job. In fact, a recent Job Satisfaction survey conducted by The Conference Board revealed that workplace culture is more important to retaining a worker than pay once a competitive compensation threshold is met.

The key drivers of culture are purpose and values — what Jim Collins refers to as your “core ideology.” Purpose defines the fundamental reason for your existence and the difference you will make in the world. As more and more people seek to do meaningful work, particularly the Millennials and Gen Z crowd, they are attracted to purpose-driven companies.

Values are the guiding principles and beliefs that drive a company’s culture and reflect the purpose. When defined accurately and with acute intention, they can help companies grow and evolve without losing touch with what matters most.

Practically, values are your guideposts. They’re how you hire the right people. How you frame feedback to employees. How you make decisions. And how you hold the organization and everyone within it accountable.

Purpose and values help people understand if your company is aligned with their individual goals, priorities and needs. If clearly articulated and well defined, you will attract the people who want to be a part of your vision (and repel those who don’t).

The key to developing meaningful purpose and values is figuring out the right words to express them. Think passionate authenticity rather than bland, generic ideals. Purpose and values that truly capture the essence of your culture can be meaningful differentiators of attraction.

Make your promise

What is the greatest, most compelling pledge you can make to employees and consistently live up to? The ultimate answer to employee questions, “Why should I work here? What’s in it for me?” This is your Your Employee Value Proposition (EVP).

An effective EVP aligns with your purpose and is substantiated and supported by a strong set of proof points. These are the functional and emotional benefits your organization provides — beyond the standard set of healthcare and perks —that paint a full picture of the perceived value of working for your company.

According to The Conference Board’s Job Satisfaction 2023 survey, key factors that influence job satisfaction and employee retention include flexible, hybrid work arrangements, organizational culture, quality of leadership, work/life balance, potential for future growth, and interesting work.

Be distinctive

Once you’ve developed these core components and explained in more detail the most critical messages and promises contained in the EVP, it’s time to bring your purpose, values and EVP to life across the full employee life cycle. How you do this is what gets you noticed in a sea of sameness.

When expressing your employer brand in the marketplace, don’t look and sound like everyone. Push the boundaries and break through the noise. In today’s overly complex world with thousands of messages and images overwhelming us every day, we’re on sensory overload. The ability to get noticed and be heard takes an effective strategy, brilliant design and meaningful story. Be distinctively different. Find your singularity. Be authentic, yet original. Choose your words and images carefully. Then be bold.

Distinction also comes from the way you tell your story. Your goal is to capture the hearts and minds of your audiences. Absent first-hand experience, powerful storytelling is the best way to make an emotional connection. Make it personal, relevant and purposeful. Let others see and feel themselves in your stories and in your company.

First impressions count. Too many companies fail to take the time to make the effort and investment. This is especially true in the Careers sections of corporate websites, one of the first places a prospect will check you out. Often there’s no message, no feel for the company, bad stock photography, and, worse, some have little more than job postings.

Build awareness

Many of our clients are market leaders or successful market challengers. They’ve created game-changing technologies, products or services, but no one has ever heard of them. They are great companies with inspirational leaders and engaged employees, but they need our help building their brand and bringing it to life. Top talent wants to work for companies like these doing important and meaningful work. But you can’t win the war for talent if you’re not in the game.

It’s imperative to take an active role in telling your story by using multiple channels to reach your audiences, especially potential employees: corporate websites and careers pages, social media, PR, recruitment marketing, social responsibility and community outreach, business and industry recognition…the possibilities are endless. There’s no special sauce. The key to effective branding is consistency and clarity, and the return on your investment is significant. Be intentional in crafting your message to enhance your reputation, then communicate, communicate, communicate! There’s an additional benefit. You will likely instill pride in your current people.

People First

Companies who put their employees first, ahead of customers and investors, tend to have a more engaged and happier workforce. When you’re focused on your employees’ professional and personal well-being, growth and advancement, and helping them reach their full potential, your retention rates typically increase. When employees see your commitment and they feel truly valued, you will have done a great deal to have earned their trust. And in return they will take care of the business. They’ll care more, do more and give more.

People-first companies are human at their core. It’s expressed in their behaviors and actions, attitudes and norms, in their rituals and in their language. People-first companies speak like people, not like a corporation. They talk to their people like people. They are transparent, truthful and respectful. They have conversations, not one-way announcements. They don’t use corporate jargon or spin. Don’t insult your employees with corporate BS. You’ve hired smart people, so they see right through it. It’s disengaging and demeaning.

Attracting and retaining top talent, like most valuable endeavors, takes commitment, consistency and perseverance. It’s important to do each of these steps well, creating a lasting foundational asset. Once you build the momentum, you’ll be surprised how the elements start to fall in place!