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October 22, 2024
Finding top talent is only one part of the struggle. Paying close attention to your employee retention rates is an essential part of hiring high calibre talent. Without this essential step, you run the risk of spending a lot of money on sourcing top quality candidates, only for them to quickly become disengaged and dissatisfied with the work they are doing. Unhappy workers are unlikely to stick around for long – particularly if they have skills that are in high demand.
If you are hiring niche and highly skilled workers, you can almost guarantee that other companies will be circling and trying to poach them from your workforce. After all, you’ve just confirmed to your competitors that they are a worthy hire by offering them a job. So all they need to do is swoop in with a more attractive offer and undermine your competitive advantage.
The best way to protect against this would be through employee retention methods that can be implemented through SaaS (software as a service) tools. In this guide, we’re exploring the role of SaaS tools in the recruitment and retention processes, and how you can make the most of the resources available to you to help keep top talent engaged.
Employee retention starts much earlier than you might think. It should ideally start at the recruitment stage, as hiring the right candidate is the best way to ensure they stick around.
A cohesive onboarding programme that takes them from the recruitment stages and through their probationary period comes next.
Finally, you need an engagement tool that helps to ensure employees feel they have a voice within the organisation and that their career development matters.
Alongside this, you need a clear grievance procedure that is triggered when things go wrong. Combine all of these elements, and you’ll have a happier and more engaged workforce. This can help to retain existing staff and attract new talent by reputation alone.
As mentioned above, the first way in which SaaS tools can help with recruitment is through selecting the right candidates for the role. SaaS tools can support your hiring efforts and make it possible to streamline your recruitment while cutting costs. There are three main ways you can upgrade your recruitment efforts with SaaS tools:
It goes without saying that you can’t have all three at once. So, if you’re looking to cut costs, you will either need to sacrifice speed of hiring or the calibre of the candidates. Likewise, if you’re looking for high calibre candidates, you’ll either have to take your time or expect it to cost more money.
Once you have made a hiring decision, it is then time to bring candidates onboard. By using SaaS software that the candidate is already familiar with from the recruitment process, you can streamline the process and ensure nothing is missed.
Candidates know exactly what to expect on their first day, in their first week, and in their first month. This empowerment helps to solidify their position within the company and ensures they always know where to turn. These simple steps can help to improve employee retention rates significantly.
Top talent want to know that their contribution to the organisation is recognised and rewarded fairly. This is where SaaS tools can come in handy in boosting engagement. You can use these tools to check-in with employees regularly, allowing them to voice their concerns or seek feedback on their performance.
You could also use these tools to create an employee development plan that ties in with regular reviews and feedback opportunities. This will help the employee to feel a sense of progress within the organisation and will avoid stagnation and boredom.
As much as the career development tools are great for increasing retention, there is also benefit to be found in making sure that grievance procedures are also well-managed. It would be better if things didn’t go wrong, but employees will benefit from knowing they are covered if things do go wrong.
If they have an issue with another employee, being able to handle this quickly and efficiently can help to improve staff retention. A single toxic employee could quickly cause issues for your whole team and cause you to lose quality talent, while the toxic employee sticks around.
By making the most of the resources available to you, you can attract, engage and retain the top talent in your organisation. This can have widespread benefits, as you’ll experience lower recruitment costs alongside improved productivity. Your reputation as a quality employer can also help to attract more high quality talent to your teams.
There’s no denying that technology has fully infiltrated the recruitment sector. Employers will only be able to put off using it for so long. Eventually, candidates will have expectations that you’ll be using some kind of SaaS tool for recruitment and onboarding.
Engaging with this technology does not have to mean saying goodbye to your existing HR teams. Think of SaaS recruitment technology as a tool to enhance your HR department, not replace it.
With any new technology, it’s essential to proceed with caution and carefully monitor anything that has been automated. This will help to avoid common pitfalls of introducing new technology, which usually comes down to simply failing to monitor how it is rolled out. Remember that technology should only ever be used as a tool, not a replacement for human insight.
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