If you want to retain top talent, it all starts with your recruiting process. How can you start on the right foot?
- Identify what motivates and energizes a candidate.
- Identify candidates who’ll stay the course.
- Transparency and clarity are key during the recruiting process:
- Paint a clear picture so the candidate understands the potential for growth in the role you are offering.
HIGH-COST IDEAS
Invest in Growing Top Talent & Provide A Clear Path to Advancement
According to research from the Consumer Technology Association, high-skills training (80 percent) and professional development (74 percent) are among the top benefits for retaining employees’ services over the next five years. Research from the Gartner Global Labor Market Survey, sourced from more than 22,000 employees in 40 countries, found that high potential employees (HIPOs) are at greater risk of leaving.
How can you keep these high achievers around?
- Provide training and experiences to help them evolve. If you don’t invest in them, they may seek out someone that does.
- Highly ambitious people have an intrinsic need to grow both personally and professionally, so create an environment that fosters that.
- Provide ongoing education and clear paths to advancement.
- Promoting from within not only provides a clear path to greater compensation and responsibility, it also helps employees feel that they’re valued and a crucial part of the company’s success.
LOW-COST IDEAS
Give Top Talent More Freedom
The CTA study revealed that flexible working arrangements ranked fourth among the top benefits for retaining talent, behind health insurance, bonuses, and paid time off.
How does an employer provide freedom?
- Don’t limit top talent to their job descriptions.
- Provide ambitious employees with greater autonomy and opportunities to pursue passions as a way to feed their intrinsic motivation and allow career advancement.
- Offer opportunities for cross-collaboration to keep partnerships fresh and foster collaborative learning.
Conduct “Stay” Interviews
Companies perform exit interviews as employees leave the organization: by then, the data you gather is too little, too late. Get ahead of the game by conducting “stay interviews.” These meetings allow you to gather intel and discover best practices for keeping top talent before they exit through the gift shop.
- First: What motivates you to stay here?
- Then: What might cause you to leave?
- Next: Do you feel that you are challenged?
- Finally, what changes would you make to your job if you could?
The answers can provide managers with feedback to allow an organization to keep a worker who might otherwise leave.
- Have conversations early and often.
- Everyone wants validation.
- If someone nails a project, then thank them directly for their great work.
- Showing appreciation and acknowledgment goes a long way toward retaining top workers.
Be Responsive
People change during their careers and companies should be willing to change with them. Inspire, excite and energize your staff by responding promptly to their concerns, questions, and suggestions. This will help them feel engaged, and drive them to deliver value beyond their roles. If you do this, your staff will be more likely to stick around and improve your organization because their voices were heard.
Looking to retain top talent but need some assistance doing so? Contact Quovis today.
References
https://www.cta.tech/Resources/Research