Finding and retaining top talent is a key strength of successful businesses. Without the best people, it’s overly optimistic to expect upper-level and mid-level management to perform in a manner that will improve business performance. The same is true for meeting or exceeding key performance indicators set by the CEO too.
Here are 4 things that successful companies are doing in recruiting and retaining top talent.
1. It All Starts with Recruitment
When looking for key executives for the upper- or mid-level management positions, it’s necessary to use an executive search firm. Doing so allows access to some of the top-tier talents in the local area as well as people living elsewhere who might be willing to relocate for the right opportunity.
An executive search service like Y Scouts is perfectly positioned to find the perfect person who will be an excellent fit. Relevant work experience that’s been carefully vetted is important too. Trying to complete that in-house doesn’t usually work as well as is hoped because most companies cannot cast a wide enough net. As such, a specialist agency for high-level executives is the right solution when needing talented managers and leaders inside the business.
2. Onboarding Matters
The whole onboarding process is the first real exposure of the new employee to the company and their future role within it. Welcoming them into the company and making them feel comfortable is just the first step. There needs to be genuine friendliness by both management and other staff, which contributes to how accepted they feel. New staff that continues to feel unaccepted or unwelcome don’t tend to stick around for the long-term.
The on-the-job training for their role and about the company is also a pertinent and important aspect in retaining top talent. When they’re just left to sink or swim with no guidance, it doesn’t bode well. Giving new recruits a boat, a rudder, and a proper sense of direction sees them fare much better. Businesses that wish to retain good people pay attention to the onboarding process and touch-base with new executives on a regular basis over the initial weeks.
3. Clear Expectations from the Outset
A new executive must be clear about what is expected of them from the outset. They will use this as a touchstone to check back in with themselves about how well they are doing vs the goals and expectations of them.
This can be accomplished using a clear job description, a list of goals with milestones to achieve, and when they are expected. Good, clear communication in connection with how to achieve these goals is also useful and appreciated by top talents.
4. Career Path via Promotional Opportunities
One of the most attractive aspects of choosing to work for a different company is a new career trajectory and the chance for promotions based upon achievements. When contributions are genuinely recognized – such as hitting or exceeding goals within or ahead of the timeframe given – executives feel respected.
Companies cannot merely pay lip service to the prospect of moving up in the company’s ranks or talented executives will choose to leave.
Retaining top talent has to be a high priority for every business, otherwise, they’ll stay in a continual recruitment loop. Finding the right people is only the start. Keeping high-level executives happy beyond mere salary, stock options and other perks requires a measured, practiced approach to succeed.
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