5 Ways to Retain Talent

It is no secret that securing top talent is getting tougher in many markets; the hiring process can be filled with disappointment and frustration for many hiring managers. Alas, when the time finally comes that hiring managers secure the talent they want, they understandably feel incredibly relieved and happy! Sometimes in those moments of joy and relief, Hiring Managers mistakenly sigh to themselves: “Well, my work here is done!” Big mistake!

Enter ‘Retention’.  Hiring Managers: you’ve likely heard about retention, but may not understand how it pertains to you. Have you begun to grasp the grave importance of retention and how to improve your efforts? Think of it: Hiring top talent means nothing if you don’t know how to keep them engaged and retained within your firm.

Still don’t really get why all this talk about ‘retention’ is such a big deal?

Picture the top candidate you just hired.  While you were interviewing this candidate, it is safe to assume that he/she was likely being courted by your top 2-3 competitors at the same time. This candidate had choices, and they chose you. But, you cannot take that fact for granted. Even after this candidate accepted your offer, those other firms will continue to check-in with them. If this candidate is as exceptional as you believe them to be, rest assured: Recruiters are calling them. Your competitors are contacting them. You mustn’t assume “Well, now that I’ve secured them, this candidate won’t be tempted to go elsewhere”.

First, let’s be realistic: you won’t be able to retain everyone. Some attrition is a normal part of the recruitment cycle. Not every resignation will be in your control.

Just know that you do have some things in your control. Here are 5 things you can you do to help retain your employees once they’ve been hired:

1) MEET     I’m shocked at how few hiring managers meet with their employees on a frequent basis. You’d be amazed at how much just ‘meeting’ with your employees can improve your retention efforts. Why? Employees want to feel connected to their managers. They want to be assured that they are valued; connection and communication are integral in making this happen. Consider setting up weekly or bi-weekly meetings with your employees. You can call them: “sit downs” or “meet-ups” or “catch-ups”. It doesn’t matter, be creative. The point is: Get these meetings on the calendar. Make it a routine. And use this time wisely; you can really build greater rapport and stronger connection this way. Should you have informal meetings, too? Absolutely. But, don’t discredit the positive impact of a scheduled one-on-one meeting in-person on a frequent basis; it will help you build a stronger rapport with your team.

2) ASK     Want to be a top hiring manager with strong retention on your team? Start by asking your employees what they need in order to be successful. This can be done during your catch-ups, or even informally throughout the week. Ask things like: Can I help you with anything specific? How is that project going? What would make it easier for you? Are you challenged by that project? Are your goals being met by the work you are doing? Are there things you’d like to be doing instead? How can I help you achieve your professional goals? Dig in there! Don’t be scared of the answers. Many hiring managers want to avoid these conversations, due the vulnerability and authenticity involved in these discussions. However, these questions demonstrate to your employees that you are curious about their professional development and engagement at work. It also allows you as a Manager to determine how to improve your own efforts.

3) LISTEN     Once you’ve made a point to meet your employees on a regular basis and ask them thought-provoking questions, are you listening to their answers? Really listening. Once your employees have shared with you the things they need from you in order to achieve their professional goals, process that information and make the changes you can make to satisfy them. Show your employees you have heard them, and make some improvements! Strong hiring managers are humble enough to receive feedback and are nimble enough to think creatively in order to satisfy the desires of their employees. Listen to the input. Take their feedback. Make changes. Get creative. Make positive things happen for your employees. Initiate. Don’t wait until they ask you 10 times. Get things done!

4) DELEGATE     Many candidates leave organizations because they don’t feel challenged or respected. Often, I hear candidates say “My boss keeps all the dynamic/strategic work to himself and I’m left with nothing interesting to do”. Is that you? Or are you a hiring manager who is confident enough to delegate/share with your employees? If your employees feel they are part of a bigger picture, and are in a partnership with you as their boss, they will be more likely to remain engaged in your firm. Don’t be scared to delegate/share dynamic work with your team. They are probably craving more, and you can certainly get them more involved. Don’t selfish as a Manager. View your employees as your partners. This is what is required of you in today’s market.

5) REWARD     In meeting with your employees and asking about what they need, and really listening, you are likely to hear about how they prefer to be rewarded. Respect their wishes! Each of your employees has different preferences, and likely has unique wishes about how they prefer to be rewarded. Some employees are money-motivated, some like public recognition, some crave celebratory events, and some want more work-life flexibility. Some want to work from home. Some want you to treat them to a team lunch now and then! The choices are endless, but listen to them. Rewarding their hard work is mandatory; how you choose to do that is unique and up to you. Just ensure you are making an effort to reward your employees in ways they prefer, that make them feel valued and appreciated.

Let us know how these tips work for you!
Hopefully through meeting, asking, listening, delegating and rewarding your employees-you will experience much greater retention on your team.

What else would you add? What has worked best for you? What do you crave as an employee? Let’s empower hiring managers to make productive changes in their retention efforts! I look forward to reading your comments below.

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