Strategies to Attract and Keep Employees in a Tight Job Market
Ohio businesses continue to face a big challenge: there just aren’t enough workers to fill all the open jobs. This labor shortage affects companies of all sizes and industries — from factories in Dayton to tech companies in Cincinnati, to businesses closer to home in Upper Sandusky and Delaware.
Many businesses are asking the same question: how can we attract and keep good employees when the competition is so tough? The good news is that there are several strategies that can help. By improving pay, benefits, flexibility, and company culture, businesses can become places where employees want to stay and grow.
Offer Competitive Pay
One of the first things job seekers look at is pay. If your wages aren’t close to what competitors are offering, workers may choose another job. It’s important to research what similar companies in your area are paying.
For example, if warehouse jobs in your city pay an average of $18 per hour, offering $15 might not get many applicants. Raising wages to match or beat the average can help your job postings stand out.
Improve Benefits
Pay is important, but benefits can make a big difference too. Health insurance, retirement savings plans, and paid time off are all things employees care about.
Some businesses are adding extra perks like:
- Paid parental leave
- Mental health support
- Gym memberships
- Student loan repayment assistance
Even small businesses can offer attractive benefits. For example, setting up a 401(k) retirement plan for employees can encourage them to stay longer, knowing they are saving for their future.
Create Flexible Work Options
After the COVID-19 pandemic, many workers realized they value flexibility in their jobs. Some people want the option to work from home, even part of the time. Others want flexible hours so they can take care of family responsibilities.
Offering remote work or hybrid options, when possible, can help attract more candidates. For jobs that can’t be done from home, like retail or manufacturing, giving employees more say in their schedules can still make a difference.
For example, letting employees choose between four 10-hour shifts or five 8-hour shifts gives them the freedom to pick what works best for their lives.
Invest in Training and Growth Opportunities
Workers want jobs where they can learn new skills and grow their careers. By offering training programs or chances to move up in the company, you can show employees that you care about their futures.
For example, a business could consider creating a leadership training program for staff, allowing employees to learn management skills and eventually become supervisors. This helps a business to keep talented staff because employees see a path for advancement.
Build a Positive Company Culture
Company culture is how employees feel about working at your business. A positive culture includes respect, teamwork, good communication, and fairness.
If your workplace is stressful, unsafe, or disrespectful, employees will leave even if the pay is good. On the other hand, a friendly, supportive environment can help workers feel valued and stay longer.
Recruit from New Talent Pools
Sometimes businesses have to look in new places for workers. This might include:
- Partnering with local high schools, colleges, or trade schools
- Offering internships or apprenticeships
- Hiring people who are re-entering the workforce after a break
- Employing individuals with disabilities
A construction company might consider working with a local trade school to create an apprenticeship program. This gives students hands-on experience while earning a paycheck, and the company has the potential to gain a steady pipeline of new workers.
Offer Financial Wellness Programs
Money stress can distract employees and hurt productivity. Offering financial wellness programs can help employees learn how to manage their money better.
Additionally, offering direct deposit is a simple but valued benefit. It saves employees from having to visit the bank on payday and helps them get their money faster and more securely.
Stay Competitive with Technology
Using technology to make jobs easier can help keep employees happy. For example, scheduling apps can help workers see their shifts and request time off. Automated tools can reduce repetitive tasks, making jobs less tiring.
Listen to Employee Feedback
One of the best ways to understand what your workers want is to ask them directly. Regular employee surveys or suggestion boxes can help you learn what’s working and what needs improvement.
By acting on feedback, you show that you value your employees’ opinions. This can improve morale and reduce turnover.
Ohio’s labor shortage isn’t going away overnight, but businesses that adapt can come out ahead. Offering better pay, benefits, flexibility, and a positive work culture will help you attract and retain the talent you need to grow.
At the end of the day, employees want to feel respected, supported, and be fairly paid. If your business can provide that, you’ll have a much better chance of building a loyal, reliable workforce — even in a tough job market.
At First Citizens National Bank, we understand the unique challenges that local businesses face in today’s job market. That’s why we offer a full range of business banking solutions to support your growth — from flexible financing options that help you invest in your workforce to retirement and benefit plan services that keep your team engaged. Our local business bankers can also provide guidance on managing cash flow, upgrading technology, and planning for the future. Together, we can help your business stay competitive and build a strong, stable team for years to come.
