Provide Robust Opportunities for Growth and Development
In our intensive research of this year's 50 Best Small & Medium Workplaces (companies with between 25 and 999 employees), we have identified six strategies that many of these winners engage in to attract, hire, and retain the talent they seek. In this six-part blog series, we'll take a look at each strategy along with best practices from recognized Best Workplaces.
While many of these tips leverage the smaller size of these organizations, organizations of all sizes will find these strategies useful as they seek to bring new employees into the fold.
What are the primary desires of the most desirable candidates? For starters, they want to grow, and they want to be challenged. They aren't looking to simply work at a job; they are looking to further their careers.
Showcase Development Opportunities as Part of Your EVP
When qualified candidates walk through your door (whether in-person or virtually), be ready to demonstrate how your company can challenge them and set them on an upwardly mobile career path. Show prospective employees that you are serious about opportunities for growth and development by featuring them as major benefits in your Employee Value Proposition. Highlight any and all opportunities your company offers to assist them in their desire to grow professionally—whether it be challenging work assignments, a strong investment in training and development programs, frequent opportunities to work closely with senior leaders, or a commitment to promoting from within.
Last year, the Best Small & Medium Workplaces:
- Filled nearly one-third of open jobs with an internal candidate.
- Invested an average of 64 training hours into each full-time employee.
- Among those offering tuition reimbursement, offered an average $6015 per employee in annual tuition reimbursement.
Case Study: Assurance
Industry | Financial Services & Insurance
Number of U.S. Employees | 330
2014 Best Medium Workplaces Rank | #4
Assurance is committed to the belief that if they equip employees to become the best they can be, then the company will be the best it can be. To uphold this belief, they maintain a dedicated Training & Education Team whose sole responsibility is to find, create and execute in-house educational programs that make professional development for employees convenient, engaging and affordable. The programs are popular with employees and include free learning lunches, after work certification and designation programs, onsite testing and more. But Assurance doesn't stop there; here are just a handful of some of the other practices at Assurance:
- Partner with top insurance industry instructors to teach courses.
- Survey employees semi-annually to ensure their needs are being met.
- Provide each employee with up to $5,250 each year in educational reimbursement, class materials and courses offered through an accredited university or provider.
- Pay 100% for insurance certification and licensing programs.
- Provide access to discounted rates at local community colleges.
- Perform talent assessments of employees and work with their managers to build a personal development and retention plan.
- Encourage employees to move up or around in the company by participating in the formal internal job application process.
Download our latest Attracting Talent Whitepaper for more great practices and tips for attracting and retaining talent.