We hear the word Talent a lot these days, mostly describing that individual that will impact an organization so much during her career that positive results are seen immediately, projects are completed and Human Resource Managers are rewarded for finding such a hidden gem of an employee. This individual we are referring to is the 5% of our workforce and are very tough to find, let alone hire. It would be wise to do your best to retain this individual instead of watching them leave for another company.
Here are 5 useful tips to help retain your Superstar once you have attracted and hired them:
1. Compensate accordingly. We’ve all been told compensation isn’t the only factor in High Caliber Talent’s decision to work at your organization, but it does play a major role in the decision to work for you and stay once on board. We also know the obvious; compensation should be commensurate with experience, your industry, the size of your company and your geographical location. What you need to now focus on is this talented individual’s efforts. Once on board, talented individuals go above and beyond on a daily basis to make sure the work is not only complete, but that any other tasks are completed as well. Talented individuals also take on other projects or tasks and may be assigned additional duties as this person gets the job done. Make sure you reward your talented worker with salary adjustments every year. By providing COLA, or a salary increase close to everyone else, your talented individual will not feel appreciated and lose engagement with your organization. Make sure your reward your super stars monetarily, and that can be in a “lump” sum bonus if needed so as to not exceed the salary range altogether.
2. Supervisors. Watch your managers, HR Pro. Please make sure the leaders in every department are doing the best he or she can to engage your Top Talented individuals. Great supervisors should recognize talent and manage that individual accordingly. Many employees are lost to the “Old Manager” who has been with the company since 1972. In today’s climate, you cannot afford for that to happen. Many managers focus too much on the old way of doing things or they don’t provide enough autonomy for talented individuals. Managers should focus on the ee’s that may need more guidance or training and let the Super Stars work without interruption on training that is not needed. Does this individual get to miss the XXX training meeting? YES, they do! They have seen that training course already; don’t waste their time rehashing training that is not needed. Once a high caliber employee feels trapped in a redundant, old school work environment they may start looking for a new, modern work place.
3. Advancement/Opportunity. I can’t think of any talented individual that doesn’t want the opportunity to advance or at least be provided with the opportunity to grow within the company. When your high caliber employee sees promotions come and go due to the fact that you’re worried about replacing them, it may be too late. Replacing the Best can be challenging, but consider asking that person for help. Ask for referrals of other individuals which share their qualities or have them sit in the interview for their replacement. Too many times talented individuals get passed over for a promotion for fear of that department losing its greatest asset. Too many times seeing opportunities come and go can make you post two jobs instead of one.
4. Flexiblity. Let your employees be creative or proactive on the job. Why limit employees if he or she has an idea to improve the current process. Talented individuals will always look for ways to streamline a task or improve the current situation. Promote that behavior instead of choosing the route some companies take with the ole “if it ain’t broke…” or “please don’t disrupt the status quo…” You get my point. I have witnessed first-hand what happens to talented individuals that feel they cannot provide input to improve, upgrade or help in the thought process of the company.
5. Communication. This is key and very easy to accomplish. Maintain a stream of communication with everyone. Ok, some employees are more reserved than others but always make sure you are greeting and saying hello to anyone and everyone throughout each day. That little bit of personal interaction means a lot to most. A positive, friendly environment nourishes trust and communication which, in turn, makes for happy employees. Communicate expectations and objectives too. Without a clear understanding of what is important, employees won’t make as much of an impact as they would by knowing what is expected in a new position. Communicate policy and procedure and anything else relevant to a getting off to a productive start.
6. Loyalty. Only over time can your employees know the depth of your loyalty to them. Super talented individuals will trust you and the company faster by knowing you have their back. Loyalty can go a long way in building a trusting, hard-working environment that promotes growth and retention.
Hiring the best talent is hard enough. Make sure you keep your talent stars onboard and in tip top condition by following these best practices. Most of these points made are free and simple but may take a little more effort, which is nothing more than what you are asking out of your workforce in the first place.