It’s no wonder the in today’s financial services business model, the number one asset—and conundrum—is….drumroll, please….talent. To secure top talent for your business, you need to understand how to best incentivize your open positions.
It comes down to learning how to properly source, incentivize, and retain all types of elite talent for your small business as the world around us continues to evolve.
Years ago, it was simple enough to manage talent: you took in resumes and hired someone. If you were lucky, they grew with your company, got used to its processes and goals, and eventually retired.
Today, that’s all out the window.
Secure Top Talent for Your Business
Top candidates wield more power now than they have in a long time, and that makes securing top talent for your business even more difficult. Talented candidates are now more selective in this job market and often end up with multiple offers on the table—making it important for you to meet their demands.
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Related: Your Clients Need These 3 Things
Strong incentivization enhances and secures top talent in your financial services business.
To Incentivize Talent…
Provide Industry Education
Educating your employees isn’t only great for them, but it’s also just smart business. Advancing their knowledge will empower them to do more, and will help your firm gain a competitive edge. And if it costs a little more than you’d like, just remember, it’s not an expense. It’s a business investment that’ll reap returns.
Offer Consistency Throughout
Consistency is key. Whether it’s in your goals, your processes, or your management style—it’s vital to maintain a consistent approach is your business. It allows employees to understand what to expect every single day, and it allows them to thrive in their roles. Otherwise, an inconsistent work environment fosters negative morale and motivation.
Give a Flexible Life
A balanced work-life schedule is essential in today’s business environment. Considering offering your employees personals time off for things like appointments and sick days, as well as paid time off. Remember, today’s top talent has a lot of options, so they won’t settle for a strict work schedule. This perk is also the simplest and most affordable.
Care Comes First
Care about your employees, and your employees will care about you (and your business). Being considerate of their well-being, life events, and family matters can go a long way. In a nutshell: Care is simple. Care is inexpensive.
To Secure Talent…
Focus on What Drives Them
Top candidates want to be valued, so make them valued. Focus on what drives them in their life and work, and play into those passions.
Create a Positive Culture
Your company culture must be attractive and employee-centric to hire and retain the industry’s top talent.
Offer Career Advancement
How will they help your business going forward? Make sure you have a plan in place for the role they’ll play in your business’s future.
Be Ready to Hire
The tight market today doesn’t allow for a complicit hiring approach. To grab the best talent, your business must have a fast and efficient hiring process. Otherwise, that talent might just get scooped up by your competition.
Be Friends with Technology
By automating onboarding processes and routine tasks, you’ll prevent burnout in new employees and help improve your firm’s overall employee experience.
Are you looking to hire?
Whether you’re 100% certain or just looking for more information on how to get started, our FIG Talent Solutions team is here for you.
FIG Talent Solutions provides experienced recruiting, performance management, and employee selection programs to our financial services community.