Julius Caesar said, “No one is so brave that they are not disturbed by unexpected change.” Every experienced hiring manager has been through it. You get the team running like a well-oiled machine and then one of your performers puts in their notice. Ouch. The unexpected loss of top workforce talent is very costly to a manager, in many ways. Every successful manager has to figure out how to best retain talent. Here are four strategies you can do to help with workforce talent management, acquisition, and development, and keep your organization running fast.
- Provide a competitive salary and benefit package. This seems like common sense, but if you want the best workforce talent you have to offer the best. Do your due diligence to keep up with what other organizations are offering for similar roles and be prepared to match or improve their packages. An organization that truly understands the cost of talent loss will invest in retaining their talent. If you simply aren’t able to do this, then offering nontraditional benefits can be another option. These can take many forms depending on your organization’s culture and industry, ranging from flex time to a pet-friendly workplace one day a week. Some of our clients offer a different schedule for summer hours that lets employees get ahead of Friday rush hour. Others offer a work-from-home day once a week.
- Provide a clear path to career advancement, or be clear if advancement opportunities are limited. This a lot about expectation setting. It is another important strategy to think about before you even begin your hiring process. It is important to be transparent about what career opportunities will await the new hire farther down the road. Some roles simply do not have space for growth. If this is the case, be open about whether the role could evolve, whether the new hire could move into other roles as they grow professionally, or if the role will have a fixed set of responsibilities for the foreseeable future. Not being forthcoming about this information can result in wasted time on both sides.
- Offer learning and growth opportunities. Talented people are always looking to sharpen their skills and learn new things. Does the team participate in conferences? Are there continuing education workshops that team members can take part in? Does your organization do team-building activities? Do you offer tuition reimbursement or facilitate other professional education incentives for your workforce? Do you sponsor employee-originated innovation? Offering any of the above shows team members and new hires that you are investing in their future both as employees and as individuals. It also builds a strong sense of community among the team. Make sure you mention these opportunities early on, either in the role description or during preliminary interviews and screenings, so that your organization will be foremost in a talented candidate’s mind.
- Recognize employees as individuals and create an inclusive work environment. Most successful teams are made up of people with a variety of different talents. Thus, each person can contribute in their own way. They can create their own place within the team. Taking the time to identify and embrace each person’s unique strengths and passions will drive them to contribute in their own ways. Feeling valued and being part of a tight-knit community is likely to result in long-lasting employee satisfaction and retention.
These are the some of the best strategies we’ve found to retain top talent after hiring. We’ve worked with a lot of talented new hires over the years, and we continue to learn on this front every day. If you are a hiring manager, what have you found to be helpful in workforce management and development, and retaining talent? We would love to hear your stories in the comments section below.
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