People keep quitting at record levels, yet companies are still trying to attract and retain them the same old ways. (McKinsey Quarterly)
It isn’t easy today to compete and keep talent. As a result, many potential job seekers are moving between jobs and industries, retiring early, or becoming entrepreneurs. Some leave without a plan because their co-workers left. And, competitors and other employers are openly poaching your best people.
Why is this happening?
One of the biggest challenges for most hiring bosses is their use of instinctual or intuitive hiring practices. This old practice puts new hires or promoted employees into positions that don’t fit their interests or core behaviors. So, while they may readily accept the job offer, they may not have the true interests or willingness to do the job. Or take the position for more money and the job title to help them get the next one. And, today, more than ever, some employees work a few weeks or months to get the money needed to pay for necessities, then leave. Many times, without even saying “Goodbye.”
What Can You Do?
First, accept that the job climate has changed and is continuing to change. Employees want to enjoy their work, and money won’t buy loyalty.
Second, do a much better job hiring, training, and coaching your employees.
Third, realize that your unconscious biases often get in the way of hiring the right people (e.g., ageism, fear of diversity, and other leadership blind spots).
8 Keys to Hire and Retain Top Talent
- Use the strategic selection system outlined in Hire Amazing Employees: How to Increase Retention, Revenues and Results! The system will reduce the “intuitive” selections that often fail. Also, as a boss, ensure the success of new hires, rehires, transitioning contract or gig workers to full- or part-time hires, and job transfers and promotions.
- Use a qualified job fit assessment. Job fit is #1. It helps employees, bosses, and employers keep and attract top talent and customers! Stop using assessments that “feel good” but don’t meet the Department of Labor guidelines for pre-employment hiring and selection. (See Chapter 9, “Use the Right Assessments and Skill Tests” in Hire Amazing Employees.)
- Develop a strong employee orientation and onboarding program. Employees want to know they matter. In addition, use a 180-Day Success Plan to guide new hires or employees in new positions through the first six months. (See Chapter 6, in Hire Amazing Employees.)
- Promote people that can and will manage with care. Many studies have shown that bad bosses are one of the top reasons employees leave. Too often, we promote the top salesperson or best-liked person and forget to conduct “reference checks” of internal employees and their experiences with the people we promote. Not everyone can be a good manager, nor has the skills and interest to develop them. Create separate job paths so all employees can excel.
- Provide training opportunities for all employees to support their individual career paths. Include soft skills, financial and technical skills, diversity management, etc. Examples include: Money management for those wanting to buy a home or start a business. Supervisory skills for those with an interest in managing others. Project management for those wishing to become team leaders.
- Offer remote and hybrid work opportunities. To help employees balance work and life, provide options that fit their needs. Remember, not everyone will do well working remotely. So, be sure that you (and they) are clear of the requirements to be successful by using the strategic selection system to ensure it. (See examples shared in Chapter 18, Hire Amazing Employees.)
- Consider a broader array of benefit options. Providing a smorgasbord of benefit options keeps top talent. Examples: GenZ employees might select education benefits v. increased life insurance options. Parents might opt for housecleaning services v. degreed education benefits. Older employees might enjoy job sharing or part-time work v. full-time employment.
- Encourage self-care. More and more employees today no longer value work over health. Provide classes, executive coaching, telemedicine for kids or pets, and perks (gift cards for massages) that are meaningful to the employee.
©Jeannette Seibly 2022 All Rights Reserved
Jeannette Seibly is The Leadership Results Coach. She has been an award-winning international executive and family business management consultant, keynote speaker, and author for over 29 years. Her focus is to guide leaders to make a positive difference. Feel stuck moving your team forward? Want straightforward counsel on how to do it? Let’s chat! Contact Jeannette for a confidential conversation.
A note from Jeannette about why your hiring practices encourage employees to leave: Even though The Great Attrition and Great Resignation occurred in 2021 for millions of employees … many employees are still leaving in 2022! Often, it’s due to employers’ intuitive or instinctual hiring practices! Using a well-designed strategic selection system will improve your retention, revenues, and results! Do you need guidance updating your strategic selection system? Let’s chat now!
Are you making the most out of your hiring budget? Creating a sustainable system will improve your results and your bottom line. Grab your copy of Hire Amazing Employees (Revised Edition): How to Increase Retention, Revenues and Results!