Category: Retention Strategy

Posted on in Retention Strategy

I have a lot of unconventional ideas around how we all could be more effective at recruiting and retaining talent.  Several months ago, I shared an idea about disrupting the way we deliver employer benefits packages in this post.  I was hoping for some pushback from my tribe and others so we could start a conversation.  While that didn’t happen as I had hoped (womp, womp), it won’t stop me from thinking differently about the current state and exploring fresh thinking with you. To that end, retention is a key topic that receives a lot of airtime, but it often ends there.  There are plenty of resources out there that provide old, stale ideas, but if they worked, we wouldn’t still be having this conversation.  So instead of preaching the same old, same old, let’s look at retention from a completely different perspective. It starts with surrendering and accepting that […]

Posted on in Retention Strategy

I’m keeping it short this week by sharing a 4-minute video covering one of my favorite topics…stay interviews. The concept of stay interviews has been around for about 20 years, yet is not widely practiced and it’s unfortunate because when performed correctly, they can be a great retention tool.  In this video, you will hear more about what they are, why they matter and how to conduct them. Special thanks to my friends at the Pennsylvania Institute of CPAs for inviting me to talk on this important topic!   Like what you watched? Get insights like this delivered directly to your inbox. Subscribe to the Talent Point Consulting blog now. [gravityform id=”2″ title=”false” description=”false”]

Posted on in Retention Strategy

Retain. Release.  Rehire.  It’s this pillar of the talent continuum that I talk about most.  In fact, when I’m meeting with a CEO for the first time, I’m often asked what the “one thing” is that they should be thinking about relative to their overall talent strategy and the conversation often starts here. But, we’ve missed an element.  Yup, there is a fourth. WTF. That’s right…What’s The Future (of work)?  Get it?  WTF…What’s The Future?  What did you think I meant? The future of work is going to require us to reconfigure our current people operating models and talent engagement strategies and we need to be responsive and nimble.  We’ll have to navigate through new and emerging employment models (gig and shared economies for example), leverage new technologies (automation and AI), and manage multiple generations under one roof (and maybe no longer under a roof at all).  These changes will […]

Posted on in Retention Strategy

Let me begin by saying that no fish were harmed during the preparation of this blog post. I was preparing for a speaking engagement a few weeks ago on the topic of how to attract and retain talent when funds are tight.  As we were finalizing the content, the conference organizer asked me to specifically address where people can find “hidden” talent.  Now, my internal dialogue was “if I could answer that question, I’d be retired on a private island somewhere.”  But I knew what he was really asking me was to provide some creative ways this group of entrepreneurs could uncover the resources and expertise they needed on a tight budget.  No problem. The words “hidden talent” stuck with me.  Since hidden implies something that is invisible, I kept thinking about the most unknown, untapped or underutilized segment of an organization’s talent pool.   It’s the one that no one […]

Posted on in Retention Strategy

I’m certain that I’m dating myself with a Michael Jackson song reference, but I’ve heard it 3 times in the past week, so I know it’s not a coincidence (it may not be the best blog title either, but go with me here). Since we are talking all things talent on this blog, you might be questioning how this song title ties into it.  Perhaps more than you think.  Let me explain. In Jim Collins’ book Good to Great, he makes the statement that “People Don’t Quit Companies, People Quit People.”  When I first read this quote years ago, I had one of those lightbulb moments as that statement rang true for me personally.  And it continues to be reinforced through the work I do with clients today.  Retention is something that comes up in almost every meeting I attend.  Clients describe a list of symptoms that they believe are […]

Posted on in Retention Strategy

“But she’s a brilliant asshole.” I picked my jaw up off the table and looked around the room.  The remaining members of the leadership team did not disagree with the statement. And worse? In the context of our discussion about their talent strategy, (you know, that little strategy that which defines how you are going to identify, attract, recruit, onboard, develop, and retain, release or rehire the people that will make or break achieving your business strategy), they accepted the statement and conversation moved on. Major.  Classic.  Leadership Fail….of epic proportions.  And it happens all the time. You cannot.  I repeat, cannot afford to keep a toxic person on your team. Does firing someone on your team create an inconvenience for you, those that remain and your clients.  Of course, it does!  But I’ll take inconvenience any day over the ripple effect a toxic employee has on your company.  Not convinced?  These […]

Posted on in Retention Strategy

We made it! When we launched the Talent Point Consulting blog last fall, the goal was to educate readers on each stage of the talent continuum. Week by week we’ve dissected each topic and offered up stories, resources, and a whole lot of opinions. So here we are at the final stage, Pillar #8 of the talent continuum:  Retain, Release, and Rehire. This is probably one of my favorite topics because it just might be the area that is most impactful to many businesses. It tops the agenda of what keeps CEO’s up at night, yet for some reason just gets lip service. Companies have retention issues and chalk it up to those transient millennials. Leaders lack the courage necessary to fire someone quickly when they know there is a mishire. Few talk about the importance of having a dedicated program to maintain relationships with former employees they would welcome […]

Posted on in Retention Strategy

This post is the last in our series on recognizing and rewarding employees. As loyal readers will know, this is when we’d usually do a roundup summary of all of our blog posts on the topic, as well as some third party resources we’ve uncovered. But I’m not going to do that this time. A quick Google search on the phrase “rewarding employees” produces about 52 million results. Good lord. I’m not about to comb through these results, particularly when I have yet to see a resource that offers a unique point of view. Here’s a classic example. Let me draw your attention to this gem of an article “52 Epic Ways to Reward Your Employees.”  I saw this and thought “Hot diggity!” I mean, to use the word “epic” is bold. It has to mean this is the holy grail of articles that contains all of the answers. The […]

Posted on in Retention Strategy

Technology has enabled the creation of products and services that are highly personalized. As a result, expectations are now set that everything can and should be customized. And I mean everything. Loyal readers know this theme is woven throughout the programs and processes that enable the talent continuum. In fact, we’ve talked about targeted marketing based on your ideal candidate and a hyper focus on development specific to the wants, needs, and desires of the individual employee as examples. But it doesn’t end here. I recently came across this article and shared it on the Talent Point Consulting LinkedIn, Twitter, and Facebook pages (shameless plug, follow us here for daily insights, articles, and ideas!). The article suggests that in the future (maybe even now) companies should leverage personas as they build compensation plans. Admittedly, I had never considered this, but it makes sense. With five generations in the workforce right now, it’s […]

Posted on in Retention Strategy

As I was doing some research for this week’s blog post, something hit me. I was talking with friends, family, and a few clients, as well as reflecting on my own employment experiences, about the concept of reward and recognition. I was hoping to uncover a trend or two that would support a few basic methods of rewarding and recognizing teams that might be a little different than the typical suggestions of handwritten thank you notes, giving people an extra day off, or some other less-than-brilliant nugget you typically find online. What ended up happening was something completely different. What I ended up uncovering is that all rewards systems are inherently flawed and can have a negative effect on the performance of your organization and the retention of your people. Many “experts” will tell you to create a rewards and recognition program that is aligned to your company values. I may have been one of […]