Take heart there is a way to retain your people better!
One of the biggest headaches I help my clients solve is how to Identify, Attract and Retain talent effectively. This blog focuses on retention as September is a peak time when talent becomes vulnerable to poaching.
Retention is a major cause of lost opportunity and performance for creative businesses. Often it is just at the moment talent gets poached when the full return-on-investment was about to be realised.
From my 20 years plus listening to all the reasons why talent leaves, let me share the top ones with you:
- Talent stops feeling connected to the business because their personal contribution gets over looked, becomes taken for granted or is "rewarded" in way that doesn't resonate with the individual
- The company loses focus on direction and therefore isn't clear on how people need to contribute to be recognised in the first place
- Leaders do more harm than good when promoted or recruited into senior roles as no-one has trained them in the art of leadership or given them support to take on new responsibility and challenges well. Hence, people lose confidence and jump ship
- Career planning fails so talent has nothing to aim for or grow towards
- Reviews and appraisals are just mundane tasks that no-one really wants to do so talent has no idea how they are really performing or what their core objectives are to measure performance against
- Reward packages fall below market rate yet owners still expect talent to invest as much as they do without the financial or development incentives
- Promotion and salary reviews turn out to be the "Emperor's new clothes"
- It's the "noisiest babies that get all the milk" so wrong behaviour is rewarded and the quieter contributors get overlooked
Is any of this resonating for you?
To prevent this happening in your business you must include head, heart and commercials when developing talent. We are instinctive beings all programmed to have different drivers and needs. If you focus on hard benefits with a more emotionally-led person you will create more harm than good. So ask yourself what is your business doing to connect, communicate and show you care across these three platforms?
In my experience, it is most often the heart that gets least attention yet causes the most lost opportunity!
I am delighted to be talking on how to retain talent and create a creative culture at a DBA breakfast on July 11th so do join me to learn more on this or let's get together so I can learn more about your business and what will drive the best results through your people and talent. Please email me here.
Action: To nominate your business as a leader in investing in people and be interviewed for my Shine Brighter Series promoting best practice to Attract & Retain Top Talent please email me