Retain Top Talent
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Retain Top Talent
Hiring top talent is only the start. Now you have to work hard to keep your very best talent. Most companies stink at structured and systematic retention of their top performers. Discover how to prevent turnover and keep your best people.
Curated by Barry Deutsch
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How To Attract, Retain, And Lead High Achievers

How To Attract, Retain, And Lead High Achievers | Retain Top Talent | Scoop.it
High achievers get frustrated by lack of advancement and innovation and leave the organization. The company is then left with average or below-average employees.
Barry Deutsch's insight:

The author identifies such basic elements of personal growth, impact, and learning that allow you to retain top performers. How basic can you get? Simple Maslow Hierarchy of Needs elements. Yet, most organizations fail miserably to engage their best performers. Over time, literally like a brain drain, these folks leave for greener pastures.

 

Your best performers are your Pareto Group - where you get 80 percent of your results from the top 20 percent. This is the group we should be nurturing, hand-holding, encouragin, and challenging. Yet, in most companies the vast manjority of leaders feel that since these folks are the most independent, self-starters, and self-motivated - they don't need pats on the back and emotional support. WRONG!

 

When this group starts to trickle out the door, you're in real trouble. What specific plans/initiatives do you have in place to keep these folks from considering "is the grass greener somewhere else?"

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Job Openings -29% Since March, Employee Satisfaction Drops as Crisis Drags On

Job Openings -29% Since March, Employee Satisfaction Drops as Crisis Drags On | Retain Top Talent | Scoop.it
Key Findings U.S. job openings continue to decline to 4.3 million. Job openings are down 29 percent since early March but may soon bottom out.  Employees are increasingly dissatisfied with their employers’ response to the prolonged COVID-19 crisis.
Barry Deutsch's insight:

Some interesting research out of Glassdoor on employee satisfaction during the Corona Virus Crisis and the overall job market trends.

 

What's my takeaway from this report:

 

1. We need to do a better job of boosting remote worker engagement to stimulate higher levels of productivity.

 

2. Now might be a great time to upgrade some of your staff members with better talent at a more affordable rate.

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Increase LinkedIn Engagement With Their New Features

Increase LinkedIn Engagement With Their New Features | Retain Top Talent | Scoop.it
LinkedIn is used to increase visibility and communication. Take advantage of these LinkedIn engagement changes to build relationships.
Barry Deutsch's insight:

You can now take your job ad on LinkedIn and from your company page send a notification to all your employees - what a great way for them to then take that notification/job ad - and share it with their network to boost your referrals.

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How to Retain Employees: 18 Lessons from 7 Case Studies

How to Retain Employees: 18 Lessons from 7 Case Studies | Retain Top Talent | Scoop.it
Takeaway #1 – Take care to only hire “A” players
Barry Deutsch's insight:

My favorite quote in this article was

Takeaway #1 – Take care to only hire “A” players

So many problems get solved by hiring A players: engagement, retention, lack of law suits, higher productivity, more people on the pareto contribution list, more discretionary effort according to Gallup, and more time for you as a leader in not spending the bulk of your time on problem children - on the deadbeats - on playing adult day care way too often.

 

However, most companies are unwilling to invest in the time it takes to hire A players through spending more time defining success before hiring, scrubbing the bushes and just accepting anyone who shows up on your doorstep as the candidate pool, and having a rigorous process to vet, validate, and verify the truth with candidates.

 

Why do we accept hiring average, mediocre, minimally qualified candidates - and then get mad when it happens? Wouldn't it work better if we just FIXED the process?

 

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Hiring Mistake #1: Your Job Description is Worthless

Hiring Mistake #1: Your Job Description is Worthless | Retain Top Talent | Scoop.it
In my last post, I mentioned that I would take the Study we did within the Vistage/TEC CEO and Senior Executive Community on Hiring Failure before we
Barry Deutsch's insight:

One of the worst elements of the hiring process is the traditional and tribal reliance on job descriptions. They are worthless useless as a predictor and management tool for performance - as they are typically used in most organizations. There must be a better way!

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Forbes Blogger Called it the Number #1 Mistake that CEOs Make

Forbes Blogger Called it the Number #1 Mistake that CEOs Make | Retain Top Talent | Scoop.it

 
"In an article on the Forbes blog, one of their contributing authors wrote that the number #1 CEO mistake is not having a "PEOPLE PLAN" - Barry"

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How to manage poor employee performance

How to manage poor employee performance | Retain Top Talent | Scoop.it
When one member of your team begins to perform below par, this can have a knock-on effect across the whole business. So, dealing effectively with performance issues is a must. Your team is the beating heart of your company.
Barry Deutsch's insight:

The key to performance mangement - not just poor employee performance - is:

 

"if employees are going to perform well, it’s vital that you have agreed goals and targets for each role in the team."

 

This idea of defining outcomes, deliverables, goals, objectives, metrics, and KPIs is the most important factor in hiring, performance management, and employee engagement.

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Council Post: Building A Top Team: 14 Strategies For Attracting More A-Players To Your Company

Council Post: Building A Top Team: 14 Strategies For Attracting More A-Players To Your Company | Retain Top Talent | Scoop.it
A top company starts with a top team -- here's what you need to know to build one.
Barry Deutsch's insight:

Some really good ideas from Forbes on hiring A-players. How many of these 14 strategies are you executing on now? Which one is at the top of your list to develop action plans for execution?

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Is Virtual Working A Culture Killer?

Is Virtual Working A Culture Killer? | Retain Top Talent | Scoop.it
What can be seen, heard and experienced by employees and customers, is unique to every business, and is more successful in some than others? Culture isn’t tangible, but it is unavoidable and manageable; it’s the sum total of a business’s values, ethics and beliefs, perpetuated by its people through interactions with peers and customers. So, …
Barry Deutsch's insight:

Are your younger workers demanding more flexible work hours and the chance to work from home. Have you tried to experiment with virtual work arrangements. It's one of the strongest desires from the younger generations. Are you adapting or resisting? Is the lack of a structured approach to managing virtual employees limiting your ability to hire younger talent?

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(8) Hiring Frustration: What Am I Measuring? | LinkedIn

(8) Hiring Frustration: What Am I Measuring? | LinkedIn | Retain Top Talent | Scoop.it

"Most Job Descriptions are worthless as a tool for predicting future performance"

Barry Deutsch's insight:

Why do you still use job descriptions as the core document in defining work? It does not define outcomes, deliverables, expectations, performance, results, KPIs and metrics. It has a unfurling roll of irrelevant lists of experiences, education, skills, and knowledge. The traditional job description doesn't come close to describing how someone would apply all these items in the context of their role.

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Victimized by The Top Ten Hiring Mistakes?

Victimized by The Top Ten Hiring Mistakes? | Retain Top Talent | Scoop.it
Over the past 25 plus years, my partner, Brad Remillard, and I have researched why hiring mistakes and errors occur. Between us we’ve conducted over
Barry Deutsch's insight:

How many times do you find yourself and your fellow executives making the same hiring mistakes over and over again? Is this not the best example of insanity by something again and again - hoping that it will finally work? Fix your hiring mistakes and errors now - boost your hiring success well above the standard of a 50/50 batting average.

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