8 Ways a "Less is More" Approach Improves Retention

Should people have to change jobs every couple of years to get the career development opportunities they want? It's a fact that many employees feel like they must keep moving from job to job to stay ahead. But there's a better way - and it starts with businesses providing training and development opportunities for employees to help them grow professionally without jumping ship. In this article, I'll explore why "less is more" regarding employee training and development.

What Do I Mean by "Less is More"?

Simply put, if organizations can provide?more?of the right training and development opportunities that employees want, it can result in?less?turnover. Similarly, if companies can offer thorough training and development opportunities to candidates, this will result in?less?job hopping and?more?opportunities for a fulfilling career. It's like the saying goes, "A rolling stone gathers no moss." The longer employees stay in a good organization with effective training and development opportunities, the more they can develop their skillset and invest more in their career. The spirit of "less is more" can also apply to hiring managers. For example, hiring managers can give themselves an internal audit of their approach to employee retention. What can they do to ensure their team members get the professional development opportunities they need? What tangible steps is the organization taking to help employees develop their careers and stay with the company?

Getting Started

Of course, there will be times when leaving an employer is absolutely the right decision. For example, if you have gone as far as you can with that company, or they have no more opportunities for you to grow. However, suppose an organization is doing all it can to retain its best employees. In that case, it should offer you tangible opportunities to grow and learn. This could include something significant like a promotion into a higher-level role or something minor like a title change to reflect any growth, along with an increase in compensation.

Unfortunately, some organizations have cheapened work to hire faster and at scale, resulting in a more impersonal and transactional experience. This can make it far more likely to lead to disappointment and unnecessary turnover. However, the economic slowdown of 2022-2023 allows us to rethink the hiring process and focus on making work more than just a means to earn a salary.

So how can your organization get started? Here are a few ideas to keep in mind:

1) Focus on Raising the Talent Bar vs. Filling Positions Quicker

Raising the talent bar means hiring the best employees with the skills and abilities needed to help your organization grow rather than just focusing on filling your open roles as quickly as possible. To get started, employers should start with a new talent strategy based on attracting a pre-selected group of high-potential prospects. To be successful, it's essential to define what raising the bar means for your organization. For example, your company might decide to hire candidates with a certain level of experience or specific qualifications or skills.?

2) Focus on Attracting the Best?

When the demand for great talent exceeds the supply, you can't rely on getting more efficient in weeding out the weaker candidates - you need to get better at attracting the best. To do this, employers should consider how they can make their organization stand out. As well as offering excellent learning and growth opportunities, this can include having a great candidate experience, a strong employer brand, and an efficient and timely interview process.

3) Ensure More Win-Win Hiring Outcomes

Employers should ensure that all hiring outcomes are a win-win for both the organization and the candidates. Win-win hiring means that after the first year, the hiring manager and employee are still just as excited about the role as when the offer was first accepted. There's no remorse from either side - the employee is still happy with their decision, and the company knows they've hired someone who can help them achieve their goals. Organizations can ensure high employee engagement and retention levels by implementing a win-win hiring process.

4) DEI. Let's Stop Talking About it and Start Doing it

Increasingly, organizations recognize that building a diverse workforce and creating an inclusive environment is essential. But many are still stuck at the talking stage. To create an inclusive work environment, organizations need to do more than talk about diversity, equity, and inclusion (DEI); they need to act. This starts by rethinking the job description and making your environment a safe place where people have genuine freedom to speak up and offer ideas or suggestions. Organizations should set up processes to ensure everyone is given the same opportunities and resources, regardless of their background or identity. This means focusing on hiring from a diverse pool of candidates, creating flexible workplace policies, and investing in training and development programs to ensure everyone is included.

5) Get Clear on Your Employee Value Proposition (EVP) For Every Position

An effective employee value proposition (EVP) is crucial for any organization that wants to stand out and attract the best talent. To determine the EVP for your job opening, it's important to ask the hiring manager why a top candidate would want the job and why they would be attracted to it. For example, what is their intrinsic motivator (the critical skill they wish to leverage)? What sets the role apart from other jobs and opportunities in the market? Answering these questions will help you create an EVP that is attractive to potential applicants.

6) Eliminate Bias During the Interview Process

Losing top talent during the interview process is a common problem for many companies. To ensure that the best candidates make it through to the finish line, it's critical to be aware of and eliminate any bias. You can expose bias by having the hiring team formally debrief using Lou Adler's 10-step checklist after the interview. This step is essential for diverse hiring!

7) Make Hiring a Top Priority

When it comes to the success of your business, nothing is more vital than hiring great people. Organizations should make hiring a top priority and ensure it is given the time, focus, and resources it needs. Without tangible metrics to measure and evaluate how well managers hire and develop their teams, you're unlikely to see any real change. Investing in hiring is an investment in your organization's future, so ensure it is given the attention it deserves.

8) Work With a Quality Search Firm for Your Next Important Hire

Working with a reputable search firm can make a real difference in finding the right talent for your organization. At Insight Recruitment, when our clients need us to fill an important position, we present them with 3-5 qualified people, many of them top performers who are open to looking but have yet to actively seek a new job. 99% of our positions are filled by one of these first candidates presented. We understand the importance of diversity and strive to source highly diverse candidates who will stay with your business for at least 2-3 years if challenged and developed correctly. We know what it takes to find a rockstar, giving our clients the quantum leaps they need in terms of talent acquisition.?

Whatever search firm you are considering, they should have clearly visible metrics like this that can help you make a better decision about whom to partner with.?

Conclusion

Employees are a company's most valuable asset and investing in their career development should be a top priority. Focusing on employee development will give you access to the best talent and improve staff morale, engagement, retention, and diversity. Providing employees with career development opportunities this year is an investment from which businesses of all sizes can benefit in the long run.

At Insight Recruitment, we pride ourselves on our industry knowledge and candidate relationships. We help streamline your interview process by nurturing candidates throughout the recruitment journey. If you'd like to find out more, feel free to send me a message here on LinkedIn. Alternatively, you can contact our team here.

Thanks for reading. As always, I'd welcome your thoughts in the comments. P.S. be sure to subscribe if you haven't already to get notified about the next edition once it's published.