How do you plan to manage the “quit rate” within your organization in 2014? There has been a changing shift in the top 5 reasons employees quit their current employer. In 2013, it was 1. Stability, 2. Compensation, 3. Respect, 4. Health Benefits, and 5. Work-Life Balance. We started witnessing a shift in these top 5 reasons by mid-July 2013. Are you willing to watch recruiters bring in the limo and drive away with the individuals that are driving your business? Are you willing to wave goodbye after spending so many hours training them with the next level of skills that they currently possess? Are you willing to risk the chance of watching a right candidate go with only the wrong ones available for hire?
There are 5 Key Indicators that I have witnessed in the last 6 months of a shift in what makes a candidate choose to leave their current position. I am a full-time corporate recruiter and spend most of my days on the phone speaking to your employees (passive candidates). I am not your typical recruiter that scans a resume that filters through an ATS system that was generated by a job posting. No, I am the recruiter that you fear the most. I am one of the hunters. My goal every morning is to find the right candidate to place in the limo and drive them to the company to fill the seat that they will be most effective. And, I have been highly successful at accomplishing this very goal, along with many other hunters like myself. How? By focusing on the following top 5 Key Indicators that mean the most to the candidate and whispering the Sweet Nothins’ in their ear which places them in the limo. Start implementing the following Top 5 candidate motivators this year. Remember, the only reason the hunter has a chance is because the employee has entered a passive state.
KEY INDICATOR #1 DEMONSTRATES AND CULTIVATES RESPECT
The employee has had enough of the disrespect in the workplace, their cups have overflowed and they are leaving in droves to find a company that cultivates and nurtures respect in the workplace. If you are serious about your talent retention in 2014, I would really start with a little R-E-S-P-E-C-T of your employees and the retention rates will increase significantly.
KEY INDICATOR #2 PAY HIGHER SALARIES TO KEEP THE RIGHT PEOPLE
The market has shifted enough to allow companies the budget to offer the right candidates a competitive salary and benefits package in order to assist with their decision to quit the current job. If you want to avoid candidates that fit well within your culture from being poached by one of us hunters, start offering better raises annually or, fair market wage or better upon hiring.
KEY INDICATOR #3 STABILITY
Several of your employees experienced the job market turbulences over the past six years and know ‘that feeling’ too well. If your business shows signs of weakness, the employees put the loyalty card on the table and walk away as quickly as possible. You want them to weather your storm? I suggest daily communications in honest and open forums in order to maintain productivity levels and keep the employee on board.
KEY INDICATOR #4 HIRE AMAZING MANAGERS
Amazing Managers attract the right candidates and place the candidates in the right seats. And, they are highly skilled in avoiding candidates that will not fit the company culture. Amazing Managers know how to spark conversations that generate brainstorming conversations between team members. Amazing Managers empower their teams with the tools necessary to bring their own ideas and processes to the table. Amazing Managers communicate weekly with their team members in order to explore personal goals and career objectives that will continue moving them in a productive mode daily.
KEY INDICATOR #5 RECRUIT PEOPLE THAT ARE PASSIONATE ABOUT THE WORK THEY DO AND WHO THEY DO IT FOR
Passionate people are driven by goals and are highly result-oriented. They are maze-bright individuals who do not see roadblocks. They have very strong wills with an attitude to achieve every goal they set out to conquer. The word no is not in their vocabulary. Every job they perform is performed with the highest of standards. You see the following characteristics in passionate individuals who are doing passionate work for the right company: 1. Expressive, 2. Focused, 3. Learner, 4. Perseverance, and 5. Strong Willed.
When we hunters pick up the phone to call passive candidates, we will focus on these Top 5 Indicators that employees have proven are the most important reason they remain loyal to the company, or not. Implementing these Top 5 Indicators in your 2014 Employment Branding Strategies will give you a head start and a strong fighting chance of retaining your employees.
Are you prepared for this year’s employee poaching? Ready…..….Set……..…Go!