The 6 Laws of Attraction when Building a Business
In a recent Vistage Confidence Index survey it is reckoned that despite the ambiguities prompted by Brexit that 70% of SME businesses remain confident about their future. However, of the 70% feeling confident, 47% of business leaders cited talent management – the ability to attract, recruit and retain – staff as their biggest challenge. Industry data and basic demographics suggest that this will be a growing problem over the next six years as 14 million UK employees are expected to retire but just seven million people of working age will enter the market, leaving a seven million deficit.
Vistage economist, Roger Martin-Fagg, says, “When it comes to talent management this is about finding and retaining the right people to take your business to the next level. With employment levels at an all-time high I suspect business owners will have to offer new talent packages above current market levels to get new talent through the door, along with finding more innovative ways of targeting people that aren’t looking to move jobs. This is why UK SME leaders are citing this as a top concern, after all your business really is about the people that run it with you.”
So, what should business leaders be doing to give them the best chance of attracting talent? One of the key things I see in my work within the SME sector, is that organisations that are great places to work, naturally attract talent.
Is your organisation a great place to work?
According to the employer review website Glassdoor, in their 2017 ‘Great Places to Work’ survey, employees rated the following organisations as great places to work – and here’s why:
What else do you need to do to make your organisation a destination for great talent?
According to a survey conducted by Harris Poll on behalf of recruitment firm Indeed, several other factors come into play when people are looking for their next employer.
Simon Sinek’s “start with why” may top the charts of Ted Talks that have helped millions of people connect with themselves and discover their purpose but good pay and compensation – particularly for millennials – is still well ahead at the top of the list before factors such as location, flexible working, meaningful work (thank-you Simon!), the work environment, and the variety of benefits that all play a part in the choice of employer.
How does the job opportunity you offer stack up against this list: