by Keith Coppersmith
Leaders need to wear many hats and assume different roles in an organization. From making sure that clients are happy, to ensuring that each employee works on the right project, to creating high engagement among teams, leaders have their hands full. One of the most vital challenges any leader faces in the modern business world is that of employee retention.
Our ever-changing way of life and the rise of the gig economy have enabled many talented individuals to abandon the classic nine-to-five schedule and work for various businesses on a project basis. That makes it difficult to inspire people to commit to a single company. In such a competitive, business environment, leaders need to devise specific strategies targeting this issue.
If you’re looking for effective solutions to attract and retain talented people in your industry here are a few tried and tested tactics that can help you grow your organization with the right people by your side.
#1: Way to Attract and Retain Talent: Build a structured feedback loop
So much has been said about feedback that business owners now use it as a buzz word and not an actual method. Even the ones that try their best to elicit comments and reviews from time to time tend to leave things as they are without addressing the issues that arise. This in turn causes employees to feel as if they’re talking to a wall when they’re trying to point out ways your business can do better. That will ultimately drive them away from your brand, seeing as how they won’t feel valued.
To start using this simple idea to your advantage, create a strategic feedback approach. Devise surveys, questionnaires, set up regular meetings among your teams and talk one-on-one with employees. Treat feedback as a two-way street. In addition to giving them their performance reviews, be prepared to receive one as well. And most of all, be prepared to act on what they share with you. As soon as you implement the changes, let each employee know what you’ve done to accommodate their needs and resolve the issues they’ve pointed out. By doing this, they’ll know their voices are being heard and they’ll feel like a part of your business.
#2 Way to Attract and Retain Talent: Nurture & Get to Know Employees
Brand ambassadors are not born overnight, you need to nurture and guide them and help them discover what values you share that they can relate to and recognize as a common purpose. This also requires a strategic approach as you can’t measure your success without an actual plan. In addition to acknowledging their feedback and acting on it, you should consider getting to know your teams better on a more personal level because we’re more inclined to trust who we know.
Simple gestures for creative minds, such as handing out branded notebooks to encourage brainstorming sessions can help people feel welcome and appreciated. Having the brand on a gift will make them feel like part of a larger purpose. Other ideas include treating your employees with special offers like dance lessons or a professional massage or something they might have expressed interest in.
#3 Way to Attract and Retain Talent: Let Colleagues Grow
Considering the competitive spirit of the business world, we can safely say that every talented employee strives to improve over time. If they feel a position with your company has led to a stalemate in their career with no potential of moving forward, they’ll likely go on to something else. In light of this, it’s best to act preventatively and help your employees understand from the moment they apply that there is room for growth. There are many different ways in which you can make this happen. From organizing workshops internally, inviting relevant experts to set up seminars, to organizing a mentorship program that allows people to cross-train in different areas and learn from the more experienced members in their field.
This will inspire a collaborative culture in your company where everyone can contribute to the growth and development of others. Keeping an open mind when it comes to internal advancement will also enable you to put the most talented individuals in positions of power when it helps your company advance. They will in turn teach others and transfer their own skills to anyone who comes on board.
While there will always be different challenges for you as a leader, keeping your employees happy and engaged should be one of the top priorities. Develop your own retention strategies with the help of these bits of wisdom, and each of your employees will slowly grow more loyal towards your brand over time.