Developing and maintaining an effective hiring and retention policy is a high priority for the majority of successful businesses. With this in mind HR departments should pay close attention to their strategy for attracting millennial talent (those born between the early 1980's and late 1990's), as by 2025, they are likely to comprise 75 percent of the workforce (Forbes).
Company culture is an integral part of any business. It creates a shared identity and establishes how employees interact and work alongside each other. It also helps to create an external perception of what your company values most to clients, customers, competitors, investors and potential employees. Building a strong culture, however, takes time and effort from executives, senior leadership and HR, so, as a business evolves, it’s important not to overlook what made it great to begin with. This can be a difficult task when focusing on scaling, but there are a few key steps that companies can take to help maintain culture as they expand.
Recruitment bias can occur for multiple reasons and in large part is unavoidable. For example, when interviewing prospective candidates for an open role, an interviewer may be likely to favour someone who shares similar interests and educational background over someone who possesses a more relevant skill set. In such cases, it’s important to stay focused on the role and not lose sight of its requirements.
Last month, Avencia hosted two workshops to discuss techniques for the attraction of diverse talent. Joined by resourcing and HR professionals from across the insurance and asset management markets, we explored the challenges and opportunities presented by today's hiring landscape. One lesson rang true across the board: the notion that perceptions of a brand can breed a reality that businesses do not always see.