What is the average seniority in your company?
Do you know your retention rate?
How do your employees influence your brand as ambassadors?
Over the past few weeks, we’ve taken a look at the first three stages of talent management: attraction, negotiation and integration. This week, we will cover the last aspect, retention.
And that’s not the least of it. The success of a company depends on the people who are part of it, who embrace the vision, carry it on their shoulders and make it a daily reality. And that goes beyond the cost of recruiting and training new employees.
So here are a few tips to close this series on talent management.
People at the heart of corporate strategy
Are your human resources part of your strategic planning? Not only as observers and support, but also as contributors with their own files related to the global strategy?
It is important to include elements such as workforce planning, alignment of skills and personalities with the needs of the company, but also the attractiveness strategy, employer-brand and employee-experience.
External firms with expertise tailored to the specific needs of the company can help provide a neutral perspective by customizing tools and solutions that will maximize people’s commitment to the employer.
Corporate management defines values that aim to create a sense of belonging to their organization. These values must be endorsed and lived by management and managers who, in turn, ensure that they are transmitted to their team members.
The work environment is therefore essential and closely linked to these values. People spend a large part of their lives at work and, if they do not recognize themselves in the company and are not happy there in the long term, they will leave. Not to mention the opinion they will share in their entourage, which could be detrimental to the recruitment and retention efforts that have been put in place.
Leaders vs. bosses
People often leave because of their boss. Is it always their fault? Of course not. On the contrary, the reason most often shared with me by a potential candidate for not leaving their employer is… because they have a good manager!
A few simple elements put in place can maximize the relationship between employees and their manager. Because yes, there is a difference between a boss and a leader.
First of all, respect the commitments made with employees. Not only those agreed upon at the time of hiring, but throughout the employment relationship. Whether it is during individual meetings, performance appraisals, support commitments, etc., the employer must always be able to meet these commitments. Not only will this maintain a bond of trust, but it will also promote healthy and open communication between the manager and the members of his team.
What are the team members’ ambitions, personal and professional motivations, frustrations and concerns?
Active listening, a real willingness to help team members for their success, not for the manager’s individual gain. Listening is not just hearing, but being curious in order to better understand people and be focused on their willingness to self-actualize, to be on the lookout for signs that they may slip into a conversation, showing a real interest in them.
Strength in numbers
The sum of talents and skills within a team raises the level of performance by several notches. A successful team creates a natural tendency towards success.
The use of psychometric tests adapted to talent management, and not only to hiring, can help to identify the complementarities between each individual in a team, and to level the points of vigilance of some with the strengths of others. Without forgetting the element of communication and reinforcement of the links between each member.
Team-building activities can help to forge ties between team members and create an even greater sense of belonging.
Celebrate and celebrate successes! Not only the achievement of objectives at the end of the year, but on a regular basis, whether planned or spontaneous. Each small success that is celebrated creates a positive wave that makes you forget more difficult times. The achievement of an important milestone, the winning of a new client or the conclusion of a project, or simply to mark an anniversary. It is not so much the monetary value that is important here, a simple 5 to 7 in person or virtual can be effective!
One person at a time
Each individual being a member in his own right, all have different ambitions in order to achieve personal fulfillment – an intrinsic human need.
Do they have skills that they would like to develop in order to be more effective in their work, or to move on to other positions, to evolve in their career?
This understanding will help align these elements with an individual development plan, demonstrating the company’s commitment to employees.
More difficult moments occur in people’s personal lives. Without necessarily getting directly involved in this more delicate area – which people often prefer to keep to themselves – offering an independent psychological support program allows people to be accompanied confidentially.
We control what we measure… even in retention!
Different reasons for leaving influence the retention rate. Some are beyond our control (for example, retirements) and others can be corrected or improved.
By maintaining and following up on the reasons for departures and circumstances, strategies can be established or modified, generating action plans that are specific to the reality.
The employee’s exit interview with a neutral person (ideally from the HR department) will gather information that, once collated, will allow trends to be identified and the approach to be adapted in the short, medium and long term.
Another interesting tool to identify possible solutions upstream: confidential surveys on people engagement. Not only does this practical tool provide very useful information and a global picture, it also makes it possible to target unknown elements before it is too late, and to follow up on a regular basis after each survey (annually, for example).
In order to make this exercise viable and credible, it is important to follow up with action plans and communicate them to employees, allowing them to perceive the company’s real willingness to evolve and that sincere listening is demonstrated to the feedback they provide during the exercise.
Post-Mortem – for continuous follow-up
A regular and assiduous frequency of reviews and retrospectives must be put in place, just like for a business strategy.
Monthly, quarterly, biannual and annual follow-ups, for example, allow for close monitoring and constant communication with the various stakeholders. Company management, managers and even employees, depending on the type of review, will keep this communication open and demonstrate the real interest, once again, of the company towards its main asset: its people.
To make talent management effective, it must be seen as an infinite cycle that should not be broken, as in any other area of a company’s business.
We can therefore conclude this series of articles on talent management in a few points:
– The future and success of a company depends on the people who are part of it.
– It all starts with a people-centered culture, starting with management and managers.
– All members of the organization have an impact on the 4 steps and need to be aware of the importance of their role – not just on the shoulders of human resources professionals.
Recruitment goes beyond a process to recruit people with knowledge and skills. It cannot be successful without being an integral part of a strong, people-focused corporate strategy and culture.
Want to discuss your talent management strategy and support your growth?
Write to us at email@example.com or directly to my address: firstname.lastname@example.org and it will be our pleasure to discuss and accompany you through the different steps.
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