Want to Attract Top Talent in 2018? Read This

Hiring top talent has never been more difficult. With the unemployment rate at a 17-year low in the U.S., companies are waging war to attract the top talent.

The winning strategy is almost never solely about paying a higher salary. These days, employees want to work in open, friendly office spaces; they want substantive work-life balance benefits; they want an easy commute; they want purpose-driven assignments. I've learned this through some personal experience as this is also what I've found people want when we've hired them at Radiate.

To a large extent, these desires fit in nicely for us. We can't compete on the salary level with major corporations, but we can offer more flexibility and the opportunity to have a big impact at an almost immediate level. It's one of the perks I discovered really attracts smart talent. It got me thinking about what other employers do to attract top people. Here are some of the ways successful companies nab the best:

1. Responsibility. Top talent are attracted to companies that allow them some head room and responsibility. Andrew Yang, founder of Venture For America, recommends this approach: "You want to say, 'hey look, what you're going to be doing is going to be mission-critical, and...we're going to support you, but it's going to be yours to run with.' And that's what attracts top people in my experience."
2. Equity ownership. Offering equity is a surefire way to attract and retain top talent. In shoe designer Tamara Mellon's experience, offering equity "make[s] everybody feel like an owner and a partner in the business, and then you're really all aligned with the same goals."
3. Trust. Trusting is critical, says the co-founder and CEO of Uptake Technologies, Brad Keywell. "Trust that the person joining the team can do what they're being asked to do, trust that they have the resourcefulness to figure it out, to get it done, trust that they can manage their time, and their workload and their responsibilities to the broader team, and then trust in the team to bring people in in a functional way."
4. Creative freedom. In John Chen's opinion, create the environment for people to thrive and then leave them alone. The Executive Chairman and CEO of BlackBerry explains: "Individuals really need to know that they could feel successful. Then our job is to create that environment, is to maintain that environment so they can do the job and become successful."
5. Autonomy. "Millennials want to do what they want to do. So you need to show them," recommends Scott Kurnit, the founder of About.com. "Have a culture where people can make their own decisions and do what they want to do."
6. Career progression. "It's an effective perk to offer men and women who are thinking about joining your company a sense of what their career advancement will be," says Jonathan Tisch, Loews Hotels Chairman and CEO. "People that are joining you for the first time want to know, 'Yes, I'm going to interview for this particular job, but will there be an opportunity in the future to go to another city, to go to another resort, to go to another opportunity that will allow me to enhance my career over the next couple of years?'"
7. Extensive time-off. Tom Patterson, the founder of retail brand Tommy John, implemented unlimited vacations at his company a few years ago. "Our mindset was people work extremely hard at Tommy John and we want you to also enjoy things outside of the company. Take time off."

Now I'm interested, what perk has drawn you to work for a company? I'd love to know!

Please join me on Radiate! We offer micro-video lessons taught by the best CEOs and thought leaders focused on developing your leadership skills. Try us out for free for 30 days!

And please follow me on LinkedIn!