Think of millenials and job hopping is probably one the buzzwords that comes to mind. But still, effective teams are key to successfully achieving targets. So while employers may be getting more choices with the increasingly competitive labour market, the question now may not be: “How do we get the right people?” but “How do we get the right people and keep them long enough so that our hiring decision bears fruit?”
In a nutshell, hiring is now akin to an investment decision in itself - hire the wrong person and you might lose your investment. Here are 3 ideas on how employers can find and retain great talent.
1. Ask for Feedback
It’s hard to admit you have a weakness and noticing them yourself may be tough sometimes.. Managers and team leaders may have views and opinions that differ greatly from their subordinates, nevertheless, in an organization, it takes a team to get the job done and no one should be left out, even if he or she is new on the job.
Take the right opportunities to ask others about what they think of you and your approach to a particular task. You may be surprised by the answers.
2. Be growth Oriented
In 1943, psychologist Abraham Maslow first proposed the “Hierarchy of Needs”. The very top of the hierarchy represents growth needs (Eg: realising one’s full potential, seeking self-fulfillment). Employees (being human) also seek to fulfill such needs on top of basic survival needs from their work (job security, salaries). Thus, good managers and leaders should constantly look for opportunities to stimulate their employees with chances to grow and improve. An organisation that encourages calculated risk-taking and learning from past mistakes creates the ideal environment for growth and possibly retaining talented workers.
3. Keep Employees Happy
While monetary rewards are a key factor in keeping good employees happy, managers need to play their role in fostering an inclusive environment that accepts different points of view. In his 2015 TEDx talk “What Makes a Good Life? Lessons from the Longest Study on Happiness”, psychiatrist Robert Waldinger explains one of the most vital sources of happiness in life - strong relationships.
Day-to-day work creates various sources of conflicts such as disagreements and misunderstandings. Hence, to ensure great talent stays in the company, managers need to ensure that their employees know that their opinions are being heard and that those opinions matter. Having an environment that shows “we care for everyone” plays a big part in keeping good talent.
Attracting the best talent is getting the right people for the job. But getting the wrong people is like making a bad investment decision. Moreover, keeping the right people is just as challenging. Hence, it is crucial for employers to hire and retain the ideal people to get the job done.