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Attract and Retain New Employees with a HCM System

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    The workforce has adjusted to many changes over the last year – from remote offices and Zoom calls to mandatory facemasks and social distancing. Despite the negative impact on employee experience (EX), organizations did their best to persevere throughout the disruption by quickly adapting to new ways of working.

    However, the toll of the pandemic has led many leadership teams to prioritize employee experience initiatives within their enterprise. In fact, a recent survey of human resource (HR) leaders found that 92 percent see employee experience as a top priority for their organization in 2022. 

    This focus will likely have a ripple effect on the rest of the organization, impacting every department from customer service to operations. For HR teams, a better employee experience will help shape a culture that makes it easier to find, recognize and retain top talent – a challenging task that was made even more complicated by the pandemic.

    iSolved, a workforce management software developer, produced a report illustrating the current trends in the HR field called “Transforming Employee Experience.” And as an industry leader in providing streamlined back-office processes to small businesses, Whirks understands how important it is to keep talented employees on your team, especially during The Great Resignation.

    We’ve highlighted the most significant takeaways from this report to help small business owners improve the entire lifecycle of their employees by using a human capital management system (HCM). 

    This article highlights three common circumstances that HR teams are facing when recruiting applicants and keeping workforces happy, including:

    • Attracting Top Talent
    • Recognizing Hard Work
    • Retaining High Performers

    And illustrates how an HCM platform can help them attract and retain quality workers. 

    1. Attracting Top Talent and Taking Advantage of New Opportunities

    “Forty-eight percent of HR Leaders expect recruiting new talent to be more difficult in 2022.” 

     iSolved Transforming EX report

    Although social distancing has impacted recruitment, the increase in remote work also comes with opportunities. One of the top three biggest opportunities for HR departments is the ability to recruit from anywhere thanks to the rise in telecommuting. 

    In order to take advantage of this opportunity, HR teams need access to multi-faceted technology that streamlines the hiring process and increases remote employee engagement. 

    In fact: 19 percent of HR leaders identify recruiting as the area that would benefit most from automation.  

    With robust human capital management (HCM) platform, talent acquisition teams can streamline processes for:

    • Creating job descriptions
    • Collecting incoming applications
    • Identifying qualified candidates
    • Managing applicant communication
    • Onboarding new hires

    It is crucial to maintain a positive experience throughout an employee’s tenure. HR teams can do this with recognition and engagement strategies that boost employee experience throughout the employment lifecycle.

    2. Recognizing Hard Work and the Impact on Culture

    There are many ways to improve employee experience within an enterprise, from offering engagement tools that will enhance collaboration to recognizing hard work with performance management tools.

    And the best part? All of these tools can have a positive influence on culture. 

    According to iSolved’s report: HR leaders believe EX is the top way to improve company culture.

    In addition to improving culture, engagement tools can boost productivity as well as empower employees to connect and share feedback. 

    With a robust HCM platform, HR teams can support the enterprise with:

    Engagement tools can also help employers recognize top-performing staff members. Employees identified performance reviews as one of HR’s top three areas of improvement. iSolved’s “Transforming Employee Experience” report shows the message was heard loud and clear because:

    “Thirty-two percent of HR leaders plan to invest in performance reviews in 2022.”

    Measuring performance starts with goals. With an intelligently connected HCM platform, enterprises can:

    • Enable employees to set goals that are related to performance reviews
    • Leverage templates to streamline the performance review process
    • Identify top performers and employees with the most potential

    Engaging and recognizing employees on a regular basis can go a long way in not only improving the company culture but also overall retention.

    3. Retaining High Performers and Developing Talent from within

    Replacing employees costs time and money, with one study estimating the actual cost as being up to two times the replaced employee’s annual salary. In iSolved’s “Transforming the Employee Experience” report, HR leaders identified several threats facing retention at their company. 

    Topping the list? The remote work environment, EX expectations, and competitors.

    What is the top threat facing talent retention at your company?

    The remote-work environment due to COVID-1933 percent
    Competitors with larger budgets14 percent
    Increasing Employee Experience Expectations14 percent
    Raises being frozen due to COVID-19 13 percent
    Lack of growth opportunities10 percent
    Other threats19 percent

    So how can enterprises improve employee experience outside of boosting engagement and recognizing their employees’ hard work? By providing employee development opportunities.

    In fact, in iSolved’s “2021 Human Resources Trends” survey, employees ranked learning opportunities as the top way they would like to be engaged by their employers. This means that implementing a cloud-based learning management system (LMS) can go a long way toward improving the overall employee experience and developing talent from within and reducing turnover.

    The Impact of Improving Employee Experience

    Enterprises need to transform their employee experiences in order to create a workplace that attracts and retains the best talent. 

    Finding new hires is a difficult task, but retaining those hires is even more complicated when employees are unhappy or unsatisfied. This is why HR teams need to focus on improving the entire employee journey – from hire to retire. Doing so will have a ripple effect throughout the organization, making it easier to recruit and retain talent in the future. 

    Your business’ success depends on the quality of your team. Using a human capital management system to attract top talent, recognize employee contributions, and retain talented staff will improve the quality of your team and streamline burdensome HR processes. 

    So now that you know the value a human capital management system can bring to your organization, the next steps are to learn how an HCM works and how an HCM will streamline your back-office processes. And we’ve created this helpful guide to help you avoid mistakes when choosing the best human capital management platform for your needs.