Let’s say a vacancy arises for someone in your organization. Someone whom you consider a linchpin, whether it’s in sales, HR or finance. The strategy for hiring is important but implementing an effective strategy for retaining employees is absolutely crucial.
In-house or Agency?
This depends on how many applications you’re likely to get. A recruitment agency will save time sifting through the initial resumes but if possible, let your HR department handle it. Finding the right person isn’t just about experience and qualifications. Personal statements give an indication of what someone’s about but they tend to be so carefully crafted, that you have to read between the lines. You need to discern that indefinable ingredient that tells you – this is the one.
Psychometric Testing
Are they worth doing? Well, despite the dramatic increase in their use, not every HR expert is convinced. This article from Total Jobs expresses opposing views. Just ensure that if you choose to make psychometric tests a requirement in the application process, you don’t base your hiring decision solely on the test results. Having the skills suitable for a particular role doesn’t necessarily mean the candidate is a good fit. This is where the interview process is key.
Skills and Experience
It’s common sense for an organization to start the recruitment process by compiling a list of ideal skills and experience. But which way do you go if it comes down to two applicants – one has all the prerequisites but a lacklustre attitude, and the other is dynamic and curious, but is missing some key skills? It will depend on whether you think investing in a candidate with huge potential is a better bet than hiring someone who can immediately fulfil the role but is uninspiring.
Training and Development
It’s sometimes difficult to quantify the ROI on training employees but provided your training is fit-for-purpose, it should pay dividends.
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Candidates without key skills but with a proactive and ambitious attitude can be transformed into valuable employees through training. It also means you can more easily end up with a new starter doing things ‘your way’, rather than having to unlearn existing methods.
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Employees that know they will have the opportunity to develop their careers through periodic learning will be far more likely to stay with a company. People who feel they’re in a dead-end job with no hope of advancement will look elsewhere.
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The 70:20:10 learning model combines different types of learning in the right ratios. Seventy percent of an employee’s learning should be ‘on the job’. This is where a mentor is essential to guide and support, without being too prescriptive. Twenty percent is social learning – collaborating with peers, seeking information from forums and social media. The final ten percent is left for more structured, formal training with assessments.
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Ensure any e-learning is engaging and effective. This means the content should be relevant to the employee and incorporate interactive ingredients such as videos, quizzes and surveys. Gamification features (badges, points, leaderboards, etc) will add a competitive element. The LMS platform should be easily accessed anytime, anywhere – even when offline. If there’s a knowledge gap that needs filling quickly, an online, taggable video repository is ideal.
Avoid Micromanaging
One of the top reasons for leaving a job is being ‘over managed’. A line manager should set clear objectives and then have the confidence in his team to meet them. Having a manager breathing down your neck isn’t great for retention. Only when OKRs are repeatedly falling short should a manager keep watch more closely. Having some autonomy to make decisions will raise self-esteem and allow the person to grow in the job, which should in turn encourage them to stay put.
Pre-emptive Strike
If you suspect a key employee may be looking elsewhere because they are generally unhappy, don’t wait until it’s too late. Instead, make a preemptive strike and have HR ‘randomly’ call them about a suitable opening elsewhere within the company. This will make the person feel valued, which is another key reason why people stay in a job. If you wait until they threaten to leave and simply increase their salary, chances are they’ll hang around a few months and leave anyway.
All Work and No Play
Whether it’s ‘fun Friday’, social evenings or games tournaments, employees appreciate the lighter side of work. It makes a welcome break from the normal routine and can help to build relationships with peers.