How do you develop and retain talent in a competitive and dynamic market?

Even if you do everything right, it is still an employee's market today with so many opportunities across industries as well as the rise in side hustles. I firmly believe that people want to work for leaders they can either align with or respect. This is why it is imperative that leaders have an established on-line executive presence. After that, I believe communicating with, engaging and deeply understanding the ever evolving demographics of the workforce will be key to succeed. For me, this includes weaving DEIB and intercultural competence with solid stakeholder management. This is why I feel Project Managers continue to be an excellent pool of leadership to choose from!

Aligning telling strategy to business strategy is already too broad. Individuals and their personal goals need to be aligned with responsibilities and tasks they’re asked about complete. Organizations who empower managers to make these decisions to be able to delegate well, are ones that see more autonomous teams that are self-correcting and motivated. Recent studies have shown that fulfillment in their job is one of the top priorities for modern workers and this shows organizations that they need to think more about how work can be incorporated into an individuals personal goals of fulfillment, which is contrary to what historical practices were employees are to think more about to do more and achieve more for the company.

When we think about EVP, culture is key to the employee experience. Too focused on monetary elements alone and the relationship can grow transactional. A fun and feel good environment without adequate compensation with attract a limited pool of employees long term. Maintaining a focus on culture, values and opportunities in balance with compensation and benefits drives a healthier long term relationship with employees rather than a transactional relationship to them. Invest in the person beyond the role to encourage the person to invest beyond the role as well. Imagine that ??

EVP feels like a buzz word here although I do agree with a concept, it’s easy to get lost in the management jargon that’s written in this article. I suggest organizations to establish a vision, as if they’ve had all of the resources in the world and no restrictions what kind of organization they want their employees to walk into in the morning. Then for organizations to start weaning down and refining, based off of restrictions and blockers. And if your goal is to create the most modern clean, high tech, and efficient organizations….then companies need to invest in high tech software hardware furniture, interior design, etc. And you can’t do things half assed when is related to your vision because otherwise, it won’t be your vision.

When you think about “what” your talent should learn, you can use their interests, new and emerging market trends, and your own talent needs. The intersection of these areas will always be a home run—you’ll have set your employee up to learn something they are interested in, that will be valuable for them in their next career steps, and that can help advance your team by filling skill gaps and expanding capabilities.

The way this is written, was again filled with management jargon. Of course companies know to provide personal development programs that help employees but what does that actually mean? The real answer is the day today touch point and interaction with leadership. People look to their leaders as examples and as a visualization for what could be. As a manager, you need to make sure every micro interaction, including those that are not with you, directly, are growth opportunities in some way, shape or form. Examples include if they are collaborating with another individual… What is the opportunity is there for them to gain more exposure into certain subject matter, or more reps to exercise a certain muscle etc.

Mentorship with candor. Chances are the person you are coaching is a high performer, but don’t forget to share the truth about accepting each and every offer. I am starting to see people struggle in roles where they really needed more prep time. Make sure you share the downside of ring chasing and of course make yourself available as a sounding board.

One of the important aspect of continuous learning and development (that's often missing) is providing opportunities to apply the new learning on the job & providing feedback. Organizations are blindly buying content libraries & mistaking it as learning & development. Content is one piece of the puzzle. Continuous learning shall allow Community & Coaching as the two other pieces to help solve the puzzle. I then call it the complete 3CO(eco) system for learning.

It’s important to understand that appreciation is for who the person is (their value as a person) while recognition is for something they have done. We can show appreciation for someone’s passion to help others and recognition for them reprioritizing their projects provide additional support and training for new hires that may be struggling. ??

Listen to them. When people know they are heard, they feel more confident in their positions. By listening to them, I mean truly listen. Remember, they know their jobs better than you do. If they have suggestions on how to make things better, work on putting those suggestions into action.

Managers play a vital role in their own & team's development. It's like a team sport, not individuals competing against each other.

The smartest thing you can do to retain employees is create multiple bonds with them and strengthen those bonds. If the only bond that holds your relationship with employees is a paycheck, they will leave when that paycheck is better somewhere else. Think of your bond to your employee as a rope. The more strands it has, the stronger it will be. If your employee is simply hangin by a thread, anything will make him leave. Here are some bonds you can work on: - Professional development and career advancement - Student loan Repayment - Scholarships for their family members - Activities that involve their loved ones - Give them feedback early and often - Competitive benefits - Company ownership - Give raises without them asking