December 03,
2020 Posted by smartmovesinc
Great
talent waits for no one.
BY BERNARD COLEMAN,
HEAD OF EMPLOYEE ENGAGEMENT, GUSTO@BERNARDCOLEMAN3
I often say, talented
people always have options. In the world of business, the war for
talent is always raging and good people will always be a
sought-after commodity.
As leaders, you must
constantly think about the employee life cycle of
hiring, progression, and, particularly, retention. Otherwise, employees may be
easily wooed away for
greener pastures. There is a perpetual market for talent, and leaders need
to position their companies so that their folks don't get easily taken.
Below are seven elements
to consider to avoid getting poached.
1. P is
for Perform
Organizations that
prioritize a performance culture that's fair and enable employees with
tools to thrive are highly valued. In a performance culture, it's not just
about results but also about objective feedback, fair performance reviews, 360
reviews, growth, empowerment, and recognition for stellar
efforts.
2. O is
for Onboarding
The first 30/60/90 days
are bedrock for a new hire. They are learning the ropes, acclimating, and
working to prove themselves. Those early days are predictive of future success
when the support structures are defined from day one.
Leaders need to ask
themselves, are the employees set up for success? Is it a psychologically safe
work environment? Is it a welcoming place where growth and innovation are
prioritized?
These are the questions
that prospective employees and new hires think about. It goes well beyond
compensation when employees spend most of their waking hours at work. It needs
to be a place that is enduringly hospitable and fair.
Employers should even
consider relational onboarding, moving from the transactional nature of
onboarding to an elongated process to ensure employees not only gain knowledge
but feel supported as well as connected to the company.
3. A is
for Attract
I constantly think about
the employee value proposition, which is basically why an employee would want
to work for any given company. An organization needs to think about what
differentiates it from others. Maybe it's the product, the mission, the
culture, the people, the benefits, the perks -- the reality is all those factors,
and organizations need to constantly up the ante to further understand
their absolute advantage differentiators.
4. C is
for Compensation and Culture
It goes without saying
that organizations should pay people fairly, ideally at market for their
professional and academic experiences. But money isn't the be all and end
all. There needs to be a solid and fair culture in place to ensure folks can
innovate, contribute ideas freely, and add value to the
organization. Bottom line, culture is the organizational calling card.
5. H is
for Hire
Hiring well is an art
form -- from where you post the role, how well written the job description is,
and employer rankings on places like Glassdoor to the recruitment
experience, how the interviews go, the questions asked, and the candidates
met. Each element is a signal to potential employees and tells a story of
what it might be like to work at the organization. It's important to get
this right; according to SBA, it
can cost from 1.25 to 1.4 times the salary to hire someone.
6. E is
for Engagement
According to Gallup, in
the U.S. 53 percent of workers are in the "not engaged" category, 13
percent are "actively disengaged," and 34 percent are
"engaged at work" based on a random sample of 30,628 full- and
part-time U.S. employees from January to June 2018. If engagement is
directly tied to productivity, a great deal of organizations are not
capitalizing on the talent on their teams.
7. D is
for Develop
Employees want to be
invested in and to grow. In a performance culture, organizations need to
create value beyond that of the product. Leaders need to invest in learning and
development so their folks can thrive. Most people yearn for ongoing
enrichment, and if they start to feel like they're dispensable, they'll vote
with their feet and depart for the competition. Make the development process so
great that it deters early departures.
Poaching doesn't have to
happen if leaders put their people at the center of the strategy. At the
end of the day, money might motivate, but culture is the glue.
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