Should You Fear Your Best Talent Leaving?
The battle for talent. A never-ending challenge. One which is ever evolving and a constant topic for leadership teams to manage.
Progression, money, flexibility, location, recognition, learning, development, beliefs, and interests. Or a lack of the aforementioned. Everyone has their own motivations for changing employer.
It’s human nature to seek change and new experiences. Equally, for some, security of the same environment is a better fit for their needs.
As a leader, do you view losing talent through the lens of fear? Or do you accept that it is part and parcel, and actually the changeover of talent is healthier for your overall organisation?
If a positive work culture, with progressive opportunities and a land of open doors is nirvana, are these actually possible in your current shop? What can you do to cultivate natural retention strategies? Similarly, can these strategies be used to attract new talent in the future?
Whilst encouraging loyalty can be shown through appreciation on both sides, there is also an acceptance that in today’s world, people do change jobs more often. At the senior level, when you want that next role, it never seems to be available, and when you’re not actively looking, you get the tap on the shoulder.
When employees leave on a positive note, they can you do your PR work for you. Every experience here is unique. They might also come back. The boomerang notion is sometimes real.
Proper, prior succession planning is integral to ensuring continuity and reducing risk. Keeping relationships with external firms to understand market movement, motivations, and the availability of new or replacement hires will also significantly help you here.
Nick Connor, Director at HedgerWay Senior Financial Recruitment