Turning a job seeker into a job keeper takes time and effort, but it is well spent. Photo via Getty Images

If you are searching for new talent, you realize the job market is tight. Finding the right person to fill the role takes a lot of hard work, and you use a lot of resources to properly onboard them. The real challenge is retaining these new employees and converting them into long-term assets for the organization. When you take a strategic approach to hiring, onboarding and employee management, job seekers become job keepers.

Master onboarding

First impressions are lasting impressions. Many companies put their best foot forward during the hiring process but can fall short after the candidate accepts the offer. Developing a well-structured onboarding process sets a positive tone for the employee experience. Your onboarding process should introduce the new employee to the company culture, team members and job responsibilities. Consider having a mentorship program matching new employees with company ambassadors who can help show them the ropes throughout their first three to six months. A structure surrounding the onboarding process eases the candidate-to-employee transition and helps them feel welcomed into the organization.

Explore career paths

Growth opportunities are an attractive benefit for many job seekers. Establishing a system for advancement and communicating how employees can use learning and development opportunities to meet their career goals can draw people to your organization and encourage them to stay. However, it's the open conversations between managers and employees, the regular performance reviews and the training opportunities that truly empower them to explore and shape their career pathways.

Provide competitive compensation and benefits

A competitive salary and benefits are great retention tools, providing a sense of security for both the employer and the employee. While not all small businesses and startups can compete head-to-head with larger corporations’ packages, it is important to analyze compensation and benefits competitively and determine how you can position your business as a more attractive option. Small businesses and startups offer a more hands-on experience for the employee; they have direct access to leadership and the potential to have a hand in major business decisions. These opportunities to learn and make changes are a great retention tool.

Support work-life balance

Retaining employees is highly dependent on supporting a healthy work-life balance. Small businesses are often more flexible and can provide more attractive flexible work arrangements, allowing employees to better manage their life and work obligations. Paid time off is an attractive benefit, but people stay when they feel like they can take it without feeling guilty. Offering benefits that support the employee at home and work, including wellness initiatives, demonstrates the company values their well-being.

Encourage open communication

Open communication and transparency within the workplace are powerful retention elements. A positive workplace culture is created when leaders and managers regularly communicate with employees. Employees who feel heard and valued are more likely to stay with your organization. Establishing open-door policies, conducting regular feedback sessions and conducting employee surveys can help address any concerns quickly and strengthen a supportive culture.

Give recognition

A recognition and awards program highlighting employee contributions through praise and incentives can positively impact retention. Appreciation for a job well done strengthens employees’ commitment to an organization and increases engagement. Communicating the parameters of the recognition programs allows employees to strive toward these goals and take pride in the awards they receive.

Turning a job seeker into a job keeper takes time and effort, but it is well spent. Investing in your retention efforts strengthens your team, increases employee tenure, and reduces recruiting and onboarding costs. With an engaged and talented workforce on staff, your business is primed to grow successfully.

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Jill Chapman is a director of early talent programs with Insperity, a leading provider of human resources and business performance solutions.

With a transparent approach to hiring and candidate development, you will keep the employer brand intact and maintain recruiting power. Photo via Getty Images

Houston expert: How to avoid 'ghost hiring' while attracting top talent

guest column

One of the latest HR terms grabbing attention today is “ghost hiring.” This is a practice where businesses post positions online, even interviewing candidates, with no intention to fill them. In fact, the role may already have been filled or it may not exist.

Usually, an applicant applies for the job, yet never hears back. However, they may be contacted by the recruiter, only to learn the offer is revoked or a recruiter ghosts them after a first-round interview.

Applicants who are scouring job sites for the ideal position can become discouraged by ghost hiring. Employers do not usually have any ill intentions of posting ghost jobs and talking with candidates. Employers may have innocently forgotten to take down the listing after filling the position.

Some employers may leave positions up to expand their talent pool. While others who are open to hiring new employees, even if they do not match the role, may practice ghost hiring when they want a pool of applicants to quickly pull from when the need arises. Finally, some employers post job roles to make it look like the company is experiencing growth.

When employers participate in ghost hiring practices, job candidates can become frustrated, hurting the employer brand and, thus, future recruiting efforts. Even with the tight labor market and employee turnover, it is best not to have an evergreen posting if there is no intention to hire respondents.

There are several ways employers can engage candidates and, likewise, build a talent pool without misleading job seekers.

Network

A recruiter at their core is a professional networker. This is a skill that many have honed through the years, and it continues to evolve through social media channels. While many recruiters lean on social media, you should not discount meeting people face-to-face. There is power in promoting your organization at professional meetings, alumni groups and civic organizations. Through these avenues, many potential candidates will elect for you to keep them in mind for future opportunities.

Employee Referrals

When recruiters want to deepen their talent pool, they cannot discount the employee referral. Simply letting employees know and clearly stating the exploratory nature of the conversation can lead to stellar results. Employees understand the organization, its culture and expectations, so they are more likely to refer the company to someone who would be a good fit and reflect highly on them.

Alternative Candidates

In recent years, organizations and recruiters are more dialed into skills-first recruiting practices. Creating job postings that emphasize the skill sets needed rather than the years of experience, specific college degree or previous job titles, can yield a crop of candidates who may be more agile and innovative than others. Fostering relationships with people who fit unique skills needed within the organization can help you develop a deeper bench of candidates.

Contingent Workforce

Part-time workers, freelancers, and independent contractors are a great way to build connections and the talent pool. These workers and their skills are known entities, plus they know the organization, which makes them valuable candidates for open roles. If their expertise is needed on a regular basis, it is easier to have open conversations about a potential expansion of their duties or offer full-time work.

Internal Talent

Human resources and recruiters need to work with managers and leadership to intimately know what kind of talent lies within their own organization. Current employees may have the strengths, skills, and capabilities to fill new positions or roles. Through conversations with employees and their managers, you can identify who can flex different skills, but even more importantly, the ambition to grow within the company.

In every instance, it is crucial for recruiters and hiring managers to be transparent in their intentions. Communicating within your network that you are always looking for great talent to fill future roles sets the tone. When communicating with candidates, whether there is a pressing job opportunity or not, be clear from the onset regarding your intentions for hire. With a transparent approach to hiring and candidate development, you will keep the employer brand intact and maintain recruiting power.

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Jaune Little is a director of recruiting services with Insperity.

Remote workers became a necessity in the pandemic — now it's becoming the norm. Here's how to navigate the remote hiring process. Photo by Edmond Dantès via Pexels

Houston expert: 4 questions to ask when hiring employees in other states

Guest column

A larger share of employees has found themselves working from home, or at least working remote, than ever before and many continue to do so permanently. As employers actively take steps to ensure a strong showing throughout the economic recovery, the nature of remote work has allowed employers to cast their nets far and wide in search of top-notch talent. Remote work also opened up the option for some existing employees to seize the opportunity to move to their dream locale.

Due to the nature of employment law in the U.S., remote workers spread out in varying states pose a challenge to employers – and most business owners are simply not prepared. However, by asking the right questions, employers can ensure that they are in line with cross-border rules when it comes to the challenges of having employees based in other states.

What are the payroll requirements?

When it comes to hiring remote employees in other states, it is most important to confirm that they will be properly paid. A record of compliance with state-specific payroll laws is critical in the event of a Department of Labor audit. Examples include local and state minimum wage and pay frequency requirements. Other relevant details range from overtime calculations to payroll deductions. If working with a payroll provider, employers should verify that they are set up to pay out-of-state employees.

What are the state-specific labor laws and regulations?

Another caveat of out-of-state remote employees is the requirement of local- and state-specific labor laws and regulations. Regardless of where a company is headquartered, employers are required to abide by regulations in a number of categories. A few employment regulations that may vary by location include leave – both paid and unpaid – as well as employment benefits, workers' compensation and breaks provided.

How to keep up with regulatory changes?

State-by-state employment regulations are frequently changing, and employers can be especially challenged to maintain compliance with each state's evolving labor laws. Before making a remote workforce a more permanent solution, business owners should decide between assuming the responsibility of regulatory compliance through their own research and system or delegating the role to an external partner such as an employment attorney or professional employer organization.

How to ensure the success of remote employees?

Of course, the undertaking of properly hiring remote employees in other states is only worth it if employers take steps to ensure their success. Company culture is critical to onboarding and retaining remote employees. Business owners should look beyond bookkeeping to support new hires who may be miles away from the company headquarters. Gestures such as branded swag bags and personalized video messages from teammates can make remote employees feel welcomed from afar. Virtual mentorship programs also are valuable in the development of virtual team members.

As employers further consider leveraging the remote workforce or the emerging hybrid workplace model, minimizing regulatory headaches at the onset can potentially save time and money should issues arise. By asking about payroll requirements, maintaining compliance with local and state employment regulations and preparing to preserve compliance in the future, business owners can confidently tap into the growing remote workforce with ease.

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Jill Chapman is a senior performance consultant with Insperity, a leading provider of human resources and business performance solutions.

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Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.