Building Competitive Difference Through Talent

It is true what they say, a company’s greatest asset is its own people. Think it this way, in life, nothing is permanent, from marriage and financial success to financial troubles and breakups or even pandemics; circumstances can easily change, but your inner circle of people (family, friends, or both) will be at your side no matter what. Well, your company’s team is like that family; clients will come and go, and the road might get a little bumpier sometimes, but a solid team will help stay with you no matter what and sort out any situation.

On that note, a talented workforce will be the competitive difference your company needs to stand out from the rest; in other words, talent will ultimately be the deciding factor in whether a business fails or succeeds. The talent of your company will be the wheel to keep your business running; for example, studies have shown that high performers are 400 percent more productive than average ones, and in highly complex occupations —like software development—high performers are an astounding 800 percent more productive.

On that note,  it’s crucial to make sure that you build an amazing company culture that separates you from other businesses. In this article, we will give you some useful tips on how to attract great talent to your team and how to use that talent as a competitive advantage.

How to attract great talent

As the economy and job markets are almost back to normal, we are currently facing fierce competition to attract top talent to fill highly skilled positions. In this sudden need for talent, workers have the upper hand, and companies that prioritize their employees’ happiness and motivation will be the ones to win the battle. Here are three tips for your company to stand out and attract the best talent out there.

Employee experience

Try to implement mechanisms that improve your employees' experience. You can achieve this by maintaining a flexible work environment, allowing your employees to work in their preferred environment at their preferred hours to decrease stress and increase productivity. Factors like benefits, compensation, and job responsibilities will always be important, but a good employee experience will always take precedence and make your company stand out from the crowd.

Open PTO

Open Paid Time Off (PTO) is a new concept where employees are provided with the freedom to take time off when needed as long as doing so will not disrupt business. We know, in theory, this might sound risky, but in practice, workers in this model rarely abuse this policy. Open PTO contributes to happy workers while it rewards productive use of work hours, not only attracting new talent but contributing to retaining it as well.

Nearshore

Nearshore gives you the advantage of accessing larger pools of tech talent, expanding your reach to attract them. By doing it right, nearshoring developers can be a fantastic way for businesses to improve efficiencies and increase their bottom line. We recommend you start by finding a local partner that is well-established in the region; this will help you spot the best talent right away and save you time and resources. 

Using talent as a competitive advantage

Now, for a business to succeed, it is not enough to attract and retain talented individuals; there’s no point in having talent and not using it to your advantage. Here are five ways for you to leverage your talented team players and turn their assets into a competitive difference.

Create a talent planning and recruitment strategy 

It’s important for you to have a clear understanding of your company culture and incorporate your values, mission, and norms from the very beginning of your talent selection process. Try to avoid hiring for an “aspirational” culture. 

It is important for your true culture to be accurately descriptive of your website company or fully disclosed during your interview processes. This will save you both time and money as you will be able to screen the talent that aligns with your company. The talent fits in with your culture and is likely to stay for the long haul and be more productive day by day. 

Focus on your employee experience

Good employee experience is crucial, for it not only determines the intent of a talented employee to stay with the organization but also their productivity and engagement. If your workers’ values align with your strong Company Culture, your employees will be more likely to work harder, be more productive at what they are doing and remain with the company for a long time.

On that note, maintaining your talented workers engaged is crucial to boosting your team's productivity, as your workers don’t have the sense of simply “putting in time” to be paid; instead, they are invested in doing their work well and even thinking of ways they can improve how they perform their duties on the job. A highly engaged workforce offers several benefits to an employer, for example:

• Lower turnover rates: A good employee experience will help you attract the best, most highly qualified people to your company and keep them.
• Better collaboration: Employees excited about their work will create a healthy working environment. They are more likely to share their knowledge and experience with others as they don’t see them as competition but rather work together as colleagues.
• Improved communication: When employees feel supported by their managers and team leaders, communication is hardly an issue.

Embrace technology

Technology is central to every aspect of the world, and talent acquisition is no exception. A company at the forefront of the latest technological developments will boost its talent with the right tools and achieve an important competitive advantage.

Technology not only does it enable your company to make the most of the benefits provided by the latest innovations, but it also makes your workers more engaged with their job. Well-applied technology within your organization can help to boost your company’s talent, separating it from the rest.

Provide meaningful development

It’s not all about promotions and salaries. For some, benefits are as important to employees as money. Many employees consider opportunities to grow and learn even more important than more PTO or salary raises. But just offering employees with random learning opportunities won’t cut it. To leverage talent, you need to give your employees the necessary amount o time and resources to learn in desired areas and facilitate them with the right tools to help them advance in their careers. 

Find out what motivates your team and provide the opportunities they’re looking for. This will help you improve employee development and boost your company’s culture.

Measure, review, and recognize

Having healthy communication with your employees is key to a successful work dynamic. For example, having frequent feedback will help your workers to identify the areas that need more attention and will encourage them to keep the behaviors you seek. As a manager, be accessible, open, and straightforward as you interact with your employees. Give your employees time and opportunities to connect personally with you, and you’ll see how your relationship improves, making them less likely to leave. 

Goals should always be clear to everyone on the team, and your workers should be confident that, if they do their job correctly and contribute to the company’s mission and success, they will be recognized.

Finally, from an “always open door” policy to conversation platforms, ensure there’s always space to address all employees' concerns and needs and let them know about the process and results.

We hope that these tips can help you improve your company's internal dynamics and leverage your talent into a competitive difference. At Intersog, we are happy to help you to find the right talent and to use it as a corporate differentiator.