Among his Top 10 recruiting predictions for 2012 at ere.net, John Sullivan says "retention issues will increase dramatically." They've been pretty dramatic for a while now, so I'm wondering how much more so they can get.
Says Sullivan, a former Silicon Valley talent officer, now a professor of management at San Francisco State University:
Interviewing Tips for Hiring Managers
Ten tips to help you engage job candidates and make the right hire.
I am predicting that turnover rates in high-demand occupations will increase by 25 percent during the next year and because most corporate retention programs have been so severely degraded, retention could turn out to be the highest-economic-impact area in all of talent management.
Rather than the traditional "one-size-fits-all" retention strategy, a targeted personalized approach will be required if you expect to have a reasonable chance to retain your top talent.
Yet I came upon a couple of ideas to consider in personalizing your retention efforts. Staffing pro Tim Sackett has contributed an article at TLNT entitled "The Only Sustainable Employee Engagement Tool That Really Works." It also won't cost you a cent. He writes:
Communication, transparency, hard-skill development, charitable causes, etc., are all great things that help in driving positive employee engagement, but all are hard to sustain over an extended period of time, especially as leadership teams evolve and change.
So, what is it? FEEDBACK!
...Creating a culture that is going to deliver consistent feeback in good and bad times - where employees know exactly where they stand (good or bad) and can engage in the feedback process - will always ensure you have the highest engagement possible for your organization.
The other suggestion came from a talk at a recruiting industry meeting by staffing pro Jack Smalley, as reported by Omega HR Solutions. Smalley, the article says, urged companies to "re-recruit" their best people. Remember why you were so hot to hire them in the first place. Surely the actions that follow such an exercise will result in, as the article puts it, the "kind of attention [that] will pay dividends in retaining these valued assets."