“Start the retention process when the person is still open to staying and not after they’ve already told you they’re leaving.” Jeff Weiner
As the economy rides its rollercoaster and new technologies appear out of nowhere, I’ve witnessed demand shifts for the hiring of new employees. At times when the employee pool is small, leaders strive to retain their people, tossing in benefits and bonuses – even good leadership to entice them to stay. When the employment pool is plentiful, leaders roll back good benefits and positive workplace environments. Good leadership takes a back seat. What’s the incentive, right? If someone wants to quit, there will be another right behind them… I don’t like it one bit. Leaders’ ought to lead well and create inviting workplace environments and cultures which attract people and invite them to stay.
Employee abundance or scarcity notwithstanding, people have choices in where they work. Finding new talent is a big challenge for companies but so too is retaining existing talent. I coach several leaders who face this challenge. I help them problem-solve and develop people-centric strategies for both hiring and retaining people. Retention was a big deal in the Army. We had retention officers whose sole duty was to help commanders retain talent. They were trained, provided a budget, and given quotas to meet but, even with this robust assistance, it was still the job of leaders to retain great people.
As with everything in leadership, retention starts with a strong foundation – a healthy and inviting workplace where people feel challenged to achieve lofty goals and are supported for their efforts. A workplace foundation where belonging and psychological safety are central. Upon this solid foundation, here are three of my thoughts on retaining people…
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