Finding and retaining key talent for your business

Posted 19 Jan

Finding and retaining key talent for your business

The job market has been through plenty of ups and downs in recent years. But over the past twelve months, the real challenge has been attracting and retaining the top talent you need to grow the business

Finding the skilled employees you need, and keeping them in the business, is vital for driving innovation and growth over the coming years. So, how do you locate the best talent?

Nearly 4 in 5 employers, globally, report difficulty finding the skilled talent they need, according to statistics from Manpower Group. This scarcity of talent can be a real stumbling block when your growth strategy relies on expanding your workforce and bringing the brightest minds into the business. So, how do you overcome the current talent problem?

Here are five ways to maximise your prospects of finding the talent you need:

  1. Work on your branding as an employer – employees are attracted to a company that looks like a great place to work. So, there’s value in developing a compelling employer brand that highlights your company culture, values and employee ratings.
  2. Offer competitive salaries, rewards and benefits – a job is about more than just the salary, but offering a competitive salary and reward package goes a long way to attracting the skilled workers and professionals you need in your team.
  3. Make professional development a core value – offering the best opportunities for growth and advancement is a great way to retain your existing staff. By working staff development into your company’s DNA, your team can grow along with the business.
  4. Get on board with remote and hybrid working – many employees have enjoyed the benefits of remote and hybrid working. Embracing flexible working arrangements is one way to appeal to new and existing talent, helping you build an agile, hybrid team.
  5. Recognise the star talent in the business – acknowledging and rewarding your employees' contributions is an excellent way to boost morale and job satisfaction. Happy employees are far more likely to remain in the business, keeping your team more stable.

Having the best people, talent and skills gives your business the foundations it needs to evolve, grow and diversify. So, overcoming the talent shortage isn’t just a ‘nice to have’. It’s actually fundamental to resourcing your plans and hitting your goals for the year ahead.

Amy Tokley

Cadet Accountant

WDF Accounting and Advisory | Accountants Wagga | Your partners in business

Providing carefully tailored accounting solutions in business advisory, tax compliance, bookkeeping, Self-Managed Super funds, and more.

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