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4 Different Ways to Attract and Retain Human Capital

4 Different Ways to Attract and Retain Human Capital
The Siliconreview
02 Decemebr, 2020

Most businesses focus on accumulating financial capital, underestimating just how important human capital is. If you don’t know already, human capital is the term used to describe the skills, ethic and experience that employees bring to your organisation. Essentially, the more skilled your workforce, the more productive and profitable your business will be. As such, it’s important for company leaders to attract and retain human capital if they want to succeed. However, most entrepreneurs struggle with this part of business management. They know how to make money but not how to please people. And so, today we are going to be sharing some of our top tips for attracting and retaining human capital. Find out what they are.

1.) Job Advertising

If you want to attract skilled workers to your organisation, then you need to invest a decent amount of time into your job advertisements. Make sure that you stipulate all the key characteristics you’re looking for, so you attract the right type of applicants. Furthermore, it’s important to not settle, especially when you’re advertising for senior positions. Even if the process takes a while, eventually you will find the perfect employee. Finally, make sure to market your job advertisements properly. Don’t just drop a notice on Indeed or Facebook. Advertise the position on professional websites or forums to attract specialist applicants.

2.) Employee Benefits

In the business world, you aren’t just trying to earn more money than your competitors. You also need to attract talent to your organisation, as opposed to theirs. One of the best ways to win over skilled workers is to have excellent employee benefits on offer to them. For example, if you provide free health insurance and your competitors don’t, the applicant is far more likely to choose your company. What’s also great about benefits schemes is that they have been shown to improve staff retention. They allow business leaders to show their workers just how valued they are. If you’re considering implementing one of these schemes into your organisation, you should try Zest's employee benefits software.

3.) Training Employees

Sometimes, you don’t need to go looking elsewhere for skilled workers. You just need to train the employees that you currently have. So, it’s important for business leaders to regularly schedule training sessions for their employees. This will help to increase their current knowledge of the subject and build upon their skills. By ensuring your employees are well-trained, you are certain to improve the human capital of your company.

4.) Staff Wellbeing

It’s all well and good to attract skilled workers to your organisation – but it’s a completely different ballgame when it comes to retaining them. As such, the wellbeing of your employees also needs to be a priority. Staff who feel supported, valued and happy in their workplace are much less likely to leave. That’s a fact.

These are some of our top tips for attracting and retaining human capital. Keep this advice in mind next time you go about recruiting employees.