Managers are constantly faced with the problem of attracting and keeping talent at all levels.
There are many methodologies to building an organization that is both profitable and desirable as a place to work and build careers.
Here are suggestions on how to go about doing just that.
Build A Magnetic Organization:
Kevin Sheridan is CEO of leading employee survey and HR consulting firm HR Solutions, Inc., argues organizations that place a high value on actively cultivating a culture of engagement stand apart from their competition and enjoy superior business results.
Aberdeen Group’s 2011 study demonstrated that companies earning the designation of best-in-class performers relied significantly on the use of workforce analytics and achieved the following:
- 87 percent of their employees rated themselves as “highly engaged”;
- 78 percent of key positions have ready and willing successors
- 12 percent saw year-over-year improvement in hiring
Have Strong Communication Programs:
Companies with strong communication programs to keep employees informed were able to maintain morale and improve profitability even as sales and profits declined.
In a study by this newsletter’s parent, Information Strategies, Inc. (ISI) 47% of HR leaders attributed strong communication programs as the key element to maintaining morale even as their total sales declined and in the face of downsizing and salary cuts.
The respondents said this program needed to be endorsed and driven by senior management who encouraged an “open-door” policy by senior managers, particularly the CEO and/or owner.
The results cut across company size and sales and included both large corporations and smaller enterprises.
Address Turnover Problems:
The recession cut down on the opportunities employees had in finding a position outside the company. Today, many experts believe this situation is easing and the pent up desire by employees to seek positions outside the company is somewhat easier.
HR Leaders need to address this situation early on and give reasons for employees to remain inside the enterprise.
One way is to demonstrate clearly that there are career growth opportunities within the company.
Another approach is to clearly identify career paths for employees, especially those identified as high potential retention candidates.
In all cases, the company should identify career paths and establish potential avenues even if sales are still stagnating.
To counteract the drumbeat of negative news that permeates today’s media, identify personal successes within the company.
Share major sales successes. Highlight customer “saves” when a client is kept rather than lost. Provide examples of how an employee found a way to save the company money or developed a more efficient way of completing a task.
Positive news is the best antidote to negative employee morale.
Above all, build a team and continue to highlight positive team successes.