Keeping the best on board.
Hanging on to the best talent is top of mind for a vast majority (92%) of large and medium organizations according to Brandon Hall Group™ research, with smaller organizations still describing talent retention (76%) as their biggest concern.
Even though most organizations describe talent retention as a big risk for them right now, they also report having a strong grasp of what their workforce wants to remain engaged in work (88% overall), according to our Retaining Talent 2023 study.
A vast majority of organizations conduct engagement surveys more than just once a year, but that is simply not enough. Creating effective feedback loops is one approach that will surely add value to an organization’s retention strategy.
COMPLEXITIES
Brandon Hall Group™ research confirms what many of us have experienced in practice: HR and field operations are at odds with each other more often than they are aligned when it comes to managing talent. Of all the barriers, 59% of organizations say this is a concern. Without the collaboration and alignment between these two entities, leaders and employees receive mixed signals regarding the allocation of time, budget and other precious resources.
CONSEQUENCES
When information is collected using surveys, assessments, interviews, etc., it is critical that employees hear back about results, ideas and suggestions for actions. If actions are unrealistic or not feasible, circling back to share reasons as to why this is the case is vital.
CRITICAL QUESTIONS
- How do we create connections between employees that promote a sense of belonging in the digital world?
- How can we ensure our team members understand what career opportunities exist?
- What else can we do to ensure we are at once dialed into the wants and needs of our workforce and be responsive and communicative when we address those concerns?
BRANDON HALL GROUP™ POV
Leverage feedback and communication using a variety of channels and technologies.
Formulate a listening strategy that includes engagement surveys, but don’t stop there. Avoid depending on surveys alone. How are you actively engaging in conversation with your people? Listen, and most importantly, share what you’ll do with what they’re telling you. Find the right tool and then set the right tone. Identify a means of communication such as Slack, Yammer or Teams chat. Even use virtual huddles or stand-ups that include a curiosity question for volunteers to answer. Some employers have successfully utilized crowdsourcing groups of employees, teams or departments. Consider posing a challenge and incentivizing the problem-solving power of multiple employees. Follow through and report which solutions will be implemented. This process fosters storytelling and therefore, social cohesiveness of team members. Bear in mind the process is a loop and iterative, rather than linear. Consistency is key.
Skills development, career development and professional growth are key.
Employees want to succeed and grow professionally. Investing in that growth positively impacts retention. How can employees refine their skills? Options include stretch assignments and delegating select tasks. Teach managers how to have effective career conversations. Begin by conveying your purpose of learning and listening then set the tone for the exchange to be a dialogue. Be clear about your intentions. Ask open-ended questions about the person’s goals and aspirations and embrace a coaching demeanor. Then, listen and pair up. In what corners of work might this team member be able to stretch? Ensure that there is a way for the employee to capture the main takeaways of the conversation.
One option is creating an Individual Development Plan (IDP). Such a formal approach lends greater credibility to the process and promotes accountability for the completion of action items. Leaders are best positioned as coaches and advisors, rather than gatekeepers. Evaluate technology that empowers employees to own their career development. For example, implement a career platform so that opportunities and the relevant skills and competencies are available for all to access. Launching a career platform that describes typical career paths, competency areas and skills for jobs in the organization can help drive engagement and improve perceptions of potential career growth. Enable employees so they can forge their own career paths and grow from the inevitable lessons they’ll encounter along the way.
Focus on an aligned retention strategy and ensure HR and Operations are on the same page
Showing a united front, starting at the top, is vital. Convey a clear expectation that all parts of the organization are interdependent. As an example, one CEO we know challenged her leadership team to understand that if one location fails, the whole business fails. Alignment is about working toward the common good and the greater good. HR and the business units must search for common ground on which to stand. Be on the same page about what retention goals are and cognizant of a shared purpose for the success the organization. Tie these efforts to the values and beliefs espoused by the organization. Do the work that fosters and feeds the culture.
Effective feedback loops can serve as a powerful tool that fosters talent retention. Considering communication mechanisms that would emphasize ongoing feedback loops within an organization and convey the importance of professional growth and development can play an instrumental part of an employer’s overall retention strategy.
