There’s no denying that one of the biggest expenses for any business is finding and training new talent. Often a business doesn’t fully understand the financial impact (as it’s not a debtor invoice with a clear amount that we have to pay), so we forget to account for the time and drain involved in replacing staff members. However, most businesses do innately understand the negative impact – so what is the solution?! Do what you can to keep your talent!!
We’ve got some tips to help you build a ‘talent firewall’, so you can keep your staff happy and they will stay and give you their best. This week we’ll look what you offer – at specific steps you can take to build programs and solutions for your staff members. Next week, we’ll look at what you can do as Executives and Managers to improve the workplace environment:
- Development programs: there are simple and effective ways to reward your staff and believe it or not, those that are gems will actually appreciate the opportunity to add some extra knowledge, study or accreditation to their skills. You can perhaps help staff to obtain a certificate or diploma (don’t forget that RPL might be an option if they already demonstrate the necessary skills), or arrange for in-house training that offers specific benefits for your industry.
- Reviews: you know that you should give your staff regular performance reviews, but few companies actually do this. It is time to actually take control and ensure that your staff have up to date job descriptions and measurements so that they know where they are headed and you can also measure their progress. It is also a good idea to set developmental goals such as strategic thinking, coaching and team development and for managers – delegation skills.
- Offer a formalised coaching program: Executive coaches can help set goals and ensure accountability is a positive way. This is a good way to keep up momentum and supplement internal HR resources. Remember that it helps to have a pre and post measure up of what the staff member achieves at the end of what you are offering so that there is a goal focus!
- Mentoring: mentoring is an important way for staff to increase the knowledge and abilities – a mentor should be the level above the said staff member’s boss – this will allow all parties to be able to see things from a removed and clearer perspective. Mentors help us to see the broader perspective and the added bonus is that it often helps staff to strive for promotion!
- Long-term career goals: sometimes it is possible to get lost in the day to day. It is important to help staff see the future potentials for growth and understand that their input and desires are taken into account!
All of the above steps are solutions that you should be implementing in conjuction with your staff members, the best way to do this is to ask for their input and help them to feel part of the process! Next week we’ll discuss what you as management can action to make your work environment a more positive one to ensure you don’t lose your top talent!
Please feel free to drop us a comment below if you have any questions or suggestions that have worked for you!