Lindsey Linder of Perlick Corporation said it best in our third episode of season two of our HR at the Table webinar series: “It’s not about buying talent, it’s about building talent.” Lindsey was referring to the competitive talent market and the fight to fill vacant positions. She proposed that the best way to bring in new talent is to invest in the talent you already have.
While one person can’t fill two positions, investing in growth opportunities for your employees is a solid way to drive recruitment to open positions. This effort will not only build up your internal employees, but it will make your company more attractive to potential candidates. Let’s take a look at the “what, why, and how” of investing in your people to see what growth opportunities mean for recruitment.
There isn’t one perfect strategy for investing in your employees. While this certainly isn’t the easy answer you might be looking for, it showcases how customizable building a strategy to invest in your employees can be for your company.
A strategy should be based on the employee, not the company. A growing business is a byproduct of invested employees, but you can’t get there without first assessing the needs of your current talent. This should be accomplished at the individual level. All employees have different skills and desires to hone those skills. Creating a path for growth for each employee will help them reach their full potential and grow to their best self within your company.
Lindsey shared that Perlick utilizes individual development plans (IDP) for each employee. An IDP is a tool you can use to help employees improve job performance and develop the needed experience for career advancement. IDPs are established through a framework of information about the employee’s goals, the potential for growth, and ways a company can assist in the development. When you put an IDP into practice, you’re giving your employees a roadmap that they can take to learn from within and invest back into the company.
Utilizing an investment plan such as an IDP is clear in how it helps build up current employees. While it may seem like all of this hard work only affects in-house, it also impacts the perspective of candidates. Candidates in today’s market desire more than a competitive salary. They want additional benefits, including career growth opportunities.
You can market your investment initiatives as a part of what makes you stand out amongst your competitors. Lindsey detailed a list of developmental resources companies can offer to employees and market to candidates as career investment opportunities.
You don’t need a large budget to start investing in growth opportunities. Instead, invest your time in your people. Start with an open conversation. Ask for feedback from employees on what professional skills they’d like to develop. Connect with department managers to identify areas of need and discuss how you can support growth within their teams. Lindsey remarked that motivated employees drive recruitment through word of mouth. When you give your employees a good experience and invest in their careers, they’re more likely to recommend those they know for open positions.
There are a plethora of online developmental tools you can consider adding as an employee resource. Lindsey mentioned LinkedIn Learning as a tool Perlick uses to offer courses to their employees. Websites such as the ones on this list are excellent resources you can offer to employees as a way to enhance their on-the-job knowledge as well as training for their future.
Investing in your people will ultimately lead to investments in your business. Consider initiating the conversation with employees on how they want to advance in their careers. Growth opportunities are what candidates are looking for today, and it starts with how you invest in those already established within your company.