By Susan Bassett
Reading about talent retention may seem counterintuitive when the headlines scream "RECESSION" and some PR firms have already laid off 20% of their staffs.
It's not. Think about this: There's an urban legend that employees flip agencies every two years, and so do clients. Whether you buy it or not, it's easy to agree that keeping
good talent and clients go hand-in-hand. And history shows that agencies with a focus on keeping the best are more likely to come through an economic crisis with many existing
clients still on the rolls.
Even as we face what promises to be a longer recovery than the last bust, retention strategies need to be on the agenda. Keeping top talent isn't easy. And it's going to get
harder as the equivalent of an HR tsunami--the millennials--become the backbone of the workforce. This next wave comes with a profile that downright scares many managers. But when
it comes to creating a culture where talent stays, a closer look at what millennials want may provide some answers to the retention challenge.
Many of their expectations reflect what any employee wants:
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New challenges and opportunities;
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Flexibility for a well-rounded life; and
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A chance to express opinions and contribute to decision-making.
Building talent retention strategies on this list does more than keep staffers: It creates teams that are as committed to the firm's success as they are to their own.
Start Smart
*Hire right. It's a platitude, but one all too often forgotten: Slogging through hundreds of resumes to find dozens of interview candidates to fill one position is only the
beginning.
Know what you need before you place the ad--whether it's a media professional, a writer or a project manager. Tailor the process to find those skills. Use any of the tools for
understanding how prospective hires communicate, work and show up. Get junior staffers involved in the vetting process--after all, any new hire affects the team. In the long run,
this effort is worth it.
Train from the Bottom Up
*When a new employee comes on board, the person who last held that position should train. Teaching shows the veteran staffer how much they already know and how ready they are
to tackle something new. The new hire gets a resource more like themselves than not, as well as someone to answer questions without fear of being judged. It's a symbiotic approach
that gives everyone a vested interest in a successful hire.
Cultures that Stretch
*Cultivate a culture in which reaching for higher abilities is the standard. This means goals that push the limits of strengths and shore up weaknesses. For millennials, the
opportunity to build a portfolio of skills and new experiences is critical to job satisfaction. For even the most seasoned of veterans, new opportunities reduce burnout, because
no one is stuck doing the same old thing.
Influencers All
*Solicit input and opinions from all members of the team. This engenders ownership and shared accountability. When everyone is involved in a project, there's more energy and
willingness to get behind what has to be done. And when the rewards are shared from bottom to top, there's no end to the loyalty and mutual respect created.
Embrace Work-Life Balance
*Be flexible. Letting go of 9-5 delivers work-life balance, creating room to get the job done and still have a family, friends and a community. Millennials have a sense that
they should give back, and making it possible on company time does good for them, for the community and, by extension, the firm.
Something to Look Forward To
*Build in rewards for tenure. Timing sabbaticals when many start wondering if there's something else out there offers a chance to reflect and realize that the grass isn't
necessarily greener in other pastures. Making no-interest loans available for down-payments in pricey markets offers a powerful incentive to stay in the area--and with the
firm.
It's not too late. Many of these initiatives don't cost a lot and more than pay back when you consider the cost of finding and training a new employee--not to mention the
cost of replacing a client. PRN
CONTACT:
This article was written by Susan Bassett, VP of Newton-based Corporate Ink, a WSJ Winning Workplaces winner and a Worldcom Partner. She can be reached at [email protected]