Talent Management Archives - Aha! Leadership

Employee Retention – A Note About Those Who Stay…

by Judy Rathwell | Oct 1, 2021 | Recognition, Respectful Workplace, Talent Management

For anyone who doubted, the data is in. The Great Resignation is real and it’s happening. The U.S. Department of Labor reports that during the months of April, May, and June 2021 a total of 11.5 million workers quit their jobs. And it’s not over.

What does this all mean to your organization? You are likely juggling two pressing needs: hiring to backfill people who have left and hiring new people to support business growth. The scarcity is real — too few people for too many jobs.

The best way to stabilize your business is to stem the tsunami of attrition and increase your retention. In the frantic need to hire more people, the group we often forget to attend to are the folks who stay — those showing up day-in and day-out shouldering the work that needs to get done. Think about what these people — the ones who are here, working for and with you — need now. The short answer is they need to be seen for who they are and what they are contributing. It’s your job as the leader to make sure they’re getting the recognition they deserve.

Here are four steps leaders can take now to best navigate the Great Resignation:

1. Be aware of your impact.

As leaders, people are watching you all the time whether you realize it or not. So, pause and consider how you are showing up in both your words and your actions. Let’s say your company is experiencing record YTD turnover of 25% and hiring is falling 60% below target (real scenarios in far too many companies). Your people are worried and stressed. How do you message the realities of these pain points to your people? Are you aware of how your own concerns and frustrations are experienced by others? Are you unintentionally adding to their fear and uncertainty? When you become aware of your impact, you can control it and steer it in the right direction.

2. Focus on potential and possibility.

On the flip side, let’s say your organization has 75% retention and you have attracted and welcomed a large number of new people to the organization. Consider what outcome you want to create out of this uniquely disruptive time. This is a time to be grounded in pragmatism blended with possibility, gratitude, and recognition of what your people, old and new, are going through. Get curious and ask:

What do you envision as the best possible outcome for this situation?
What excites you about that?
What does that give you/the team/the organization?

When you communicate to your people in this way, the impact is one of potential and possibility instead of fear and uncertainty.

3. Make it okay to leave.

Speaking about communication, let’s look at one other area where you may be creating an unintended impact — how you and others in the organization treat people when they leave.

In far too many companies, when an employee gives notice the reaction is akin to an emotional breakup — you’ve been left and you feel rejected. This triggers some not great behavior like a tendency to make the person leaving “wrong” and doubt their trustworthiness or integrity — even though that was not the case before they gave notice. There is a penchant to dismiss their presence and devalue their contribution. Think deeply about what this type of behavior signals to the departing employee and remember, those that remain and are watching.

An alternative is to approach these transitions with gratitude. It’s helpful to realize the era of lifelong employment is over and with rare exception, your employees are with your organization as a pit stop on their career journey. They’ve contributed and hopefully, they’ve learned some new things. They are not the same person they were when they joined and the same goes for you and for the organization. What would it be like to pause when a resignation occurs and give voice to these things from both sides of the relationship? What would be created if you paused to acknowledge how both sides of the relationship have grown and evolved? Rather than viewing a resignation as a rejection of the relationship, what could be possible if you began to view it as an inflection point in its evolution?

The talent pool is tight, and careers are long. End this phase of your time together with appreciation.

4. Give your employees the respect and attention they deserve

The marketplace for talent has shifted. You need to think of your employees like customers and put thoughtful attention into retaining them. This is the first step to slow attrition and regain your growth curve. And this does not happen when they feel ignored in the fever to hire new people or underappreciated for the effort they make to keep business moving forward. You cannot take your people for granted and expect them to stay — healthy relationships do not work that way. Here are three steps:

Re-recruit them.

Consider what conversations would be like if you were recruiting them to your company.

Spend time to understand their motivations and ambitions. With so much new hiring happening, identify where opportunities might exist inside the organization (even if it is outside of your team) to help them fulfill unrealized dreams and ambitions.
Help them see and claim the positive impact they are making in the organization. Acknowledge not just what they are doing, but why it matters. Let them know what you appreciate about how they are showing up during difficult times. People want to know they are making a difference.
Don’t stop. These are not one-time conversations. You can’t just wade in, have a talk, and think all is good. This should be the primary focus of each manager and leader in your company.

Reward them.

This may ignite the need for a systemic look at how and what is recognized and rewarded in your organization. Now may be the time to challenge the status quo if what you are seeing from your people and hearing from the talent marketplace is misaligned to your company’s current reality. This is not just about paying people more — research tells us the motivational effect of pay raises is short-lived. Just as important is how you recognize and value the contributions and impact of your people.

Think about the DNA of your organization. If the old ways of doing things no longer serve the organization and its people, figure out what does.
Be willing to let go of the past … it’s gone.
Play the long game here. Be sure your company’s compensation philosophy is clear and understood by all. (That starts with you.) Make sure accountability is in place so that those current employees are not shorted when new people are hired.

Equity starts in how you value contribution. You may not be the only one in your organization to fix the myriad of issues linked to recognition and rewarding your people, but you can lead. You can give voice to the issues and advocate for accountability.

Engage them.

Businesses are hurting and at the root of that pain for many today is a shortage of people to do the work. Your existing people feel that pain as they extend themselves to pick-up extra shifts to provide coverage, listen to customer complaints when they are helpless to fix the real issue, or witness one more colleague call it “quits” when their tipping point is reached. So, be bold and engage your people in helping you solve problems.

Ask for their help. This requires courage because admitting that you do not know all the answers is vulnerable work. It takes strength and confidence to appreciate that outcomes are better when more ideas are included, when fuller representation is present and diverse perspectives are heard.
Give them agency to help mitigate the day-to-day concerns they are faced with. Create space for them to step up, participate and inform the way forward. This sends the crucial message that they are trusted and valued.
Focus on the desired outcome. Actively seek the insights of diverse voices and points of view into what will help achieve it, especially insights and ideas different than your own. Remain open to being surprised and delighted.

Daring to be vulnerable and to not to know it all paves the path to creating deeper engagement and loyalty from all your stakeholders: teammates, peers, colleagues, and direct reports. You lead the way by opening the door.

Source: Vipula Gandhi and Jennifer Robison via Harvard Business Review

3 Things Your Future Employees Want (and What You Can Do About it…)

by Judy Rathwell | Jun 1, 2021 | Adaptability, Flexible Schedule, Newsletter, Talent Management

When it comes to what talent management in the future might look like, a 2020 study points to three defining priorities among knowledge workers.

The last year has forever changed the way employees view and approach work, but one thing holds true: Businesses that want to attract and retain the talent they need to move forward must understand the top priorities of their future workforce. They must embrace new, flexible work models and cultivate a workforce that can design their own careers. Employees want to determine when and where they work. They want to work with a diverse team. They want to be measured on the value they deliver, not the volume they deliver. And they expect to be given the space and trust they need to do their very best work, wherever they happen to be. Companies that understand and embrace these wants and needs will not only boost the motivation and engagement of their existing workers, but will gain the attention of the brightest new recruits and take their business to new heights.

1. Employees overwhelmingly expect flexible options.

According to the study, 88% of knowledge workers say that when searching for a new position, they will look for one that offers complete flexibility in their hours and location. Also 83% predict that in response to the global skilled talent shortage, companies will leverage flexible work models to reach out to suitable candidates no matter where they live — yet, only 66% of HR directors feel the same. What’s more:

76% of the workers polled believe that employees will be more likely to prioritize lifestyle (family and personal interests) over proximity to work, and will pursue jobs in locations where they can focus on both — even if it means taking a pay cut.
83% of employees think that workers will be more likely to move out of cities and other urban locations if they can work remotely for a majority of the time, creating new work hubs in rural areas.

In order to position themselves to win in the future, companies will need to meet employees where they are.

2. Employees want to re-imagine how productivity is measured.

In the future, companies will need to rethink how they measure productivity because traditional metrics — and views that real work can’t get done outside the office — will no longer cut it. According to the study, today’s employees want to be measured on the value they deliver, not the volume. And they expect to be given the space and trust they need to do their very best work, wherever they happen to be.

86% of employees said they would prefer to work for a company that prioritizes outcomes over output. What does this mean? New employees want to work for a company that cares less about the qualified work output they are able to produce, and more about the impact they can deliver to the business in a holistic sense.
But there is a gap here, with just 69% of HR directors saying that their company currently operates in this way, and only half of HR directors saying that their organization would be more productive as a whole if employees felt that their employer/senior management team trusted them to get the job done without monitoring their progress.

Forward-thinking companies will focus on closing this gap, and will design people-centric experiences that give employees the space they need to unlock their full potential and deliver transformative results.

3. Employees want to work with a diverse team.

One thing on which both employees and managers seem to agree? Employees want to work for a company that prioritizes diversity.

86% of employees and 66% of HR directors assert that a diverse workforce will become even more important as roles, skills, and company requirements change over time.
Honest, accessible metrics around your diversity progress and remaining gaps are critical to ensuring that efforts to build a diverse team are measurable, targeted, and impactful.

Takeaway for Leaders

What should the major takeaways be for business leaders when it comes to the implications of these findings?

1. See the forest through the trees.

Without the restriction of location, business leaders must look at their recruiting from a broader lens and expand the potential to attract employees who can boost an organization’s creativity and productivity.

They might, for instance, dip into untapped pools of talent such as the “home force” and bring back parents who’ve put their careers on hold to care for children, or people who left jobs to tend to aging relatives. It could also mean looking to Baby Boomers who’ve retired, but who still want to work a few hours per week. And it could mean enlisting more part-time, contract, and gig workers — who make up a larger percentage of the workforce than ever — to take on more hours. And, of course, it means looking for global talent that may reside anywhere.

2. Prioritize learning and development.

New business models sparked by the pandemic and changes in customer preferences and needs have given rise to new roles and opportunities for companies — and their employees — to grow. Upskilling and reskilling will be critical factor in capitalizing on them. As the study found:

82% of employees and 62% of HR directors believe that workers will need to hone their current skills or acquire new ones at least once a year in order to maintain competitive advantage in a global job market.
HR directors believe that ensuring that an organization has the latest collaborative technology in place to enable agile learning is the most important factor in recruiting and retaining the best talent, and 88% of employees confirm this notion, saying that they look for this when searching for a new position.

It bears repeating: Organizations will need to prioritize reskilling and upskilling to attract and retain the talent they need to make their businesses grow. Those that do will not only boost the motivation of their existing workers, but will gain the attention of the brightest new recruits and position themselves to emerge from the pandemic not just where they were, but in a stronger, better position to move forward.

Source: by Tim Minahan via Harvard Business Review