Retaining Top Talent is a Skill: How to Get it Right
2021 is turning into a work revolution. Globalization, zoom conferencing, and the rise of artificial intelligence, paired with a new generation of consumers who desire more personal, intuitive experiences, are forcing companies to rethink their approach to talent management, retention, and hiring practices. Here are some tips to make sure you get it right!
Mix it up when it comes to learning experiences:
Consider which experiences will best cater to employees’ personal needs. Factors such as the employee’s tenure, experience level, and adaptability are all variables that could impact that decision. Smaller opportunities—participation in projects where the employee can rely on more experienced peers for support, are best when a team member is unfamiliar with or new to a necessary skill. Bigger opportunities that require employees to take risks and stretch beyond their comfort zones are more suited to individuals who have prior experience carrying out a certain task; in these moments, they can put their skills to the test more independently and play a larger role. Save significant opportunities for those who are ready to take them on. However, remember that retaining top talent is vital to a company’s success, and making sure you meet the needs of the employees goes a long way in their longevity.
Taking care of yourself helps you take care of others:
Employee development can be overwhelming, especially when you have a more significant number of direct reports. Take proactive steps to avoid ending up with an unmanageable workload or meeting others’ expectations without also meeting your own. Before shaping opportunities, determine how much energy you have. What level of involvement and support are you capable of giving as a manager considering everything else on your plate? Setting realistic expectations for yourself is critical. Keep in mind that not all coaching has to come from you. In some cases, you may be able to distribute employee-support tasks to informal mentors, other managers, senior leaders, or peers.
Feedback is perhaps the most valuable aspect of retaining top talent, and it starts with setting clear expectations. As your team continues to carry out on-the-job opportunities, work with employees to set goals to strive toward. Provide regular feedback on what they are doing well and where you see opportunities for improvement. During this time, be patient. Reflect on your employee’s work up to this point, making sure to discuss both successes and failures without judgment.
Bring your a-game with employee engagement strategies:
Did you know that only about 33 percent of new employees are fully engaged in their new role? Even though companies go to great lengths to try and create a positive onboarding experience and ensure open, frequent communication, it’s essential for companies also to realize that investing time and money in developing the right strategy and implementing the right technology to ensure engagement is both up-to-date and impactful.
Emerging trends in employee engagement include collaborative software that prevents managers from wielding power by selectively withholding information and completing day-to-day processes such as bad email habits.
Target recent college grads:
Believe it or not, targeting college graduates to “retain” down the road is not only wise but something not many companies are thinking about doing. With less and less graduates staying at their first job less than one year, organizations need to offer long-term fellowships to provide students with immersion opportunities at various departments throughout a company. Also, creating short-term intensive programs that offer recent grads an opportunity to fine-tune their business skills and learn how to lead may turn the tide when it comes time to leveling up at a current position or moving on to another company.
Retain The Talent on Your Team
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