It seems that even in a pandemic, companies still struggle with employee turnover. In the past several months, I’ve noticed a significant uptick in employee turnover. The same holds true in terms of the number of people on LinkedIn announcing the acceptance of new positions.
In case you’re wondering, the majority of these people are currently employed.
Does this surprise you?
Many of my private coaching clients, whom I’m working with on their job search, are receiving multiple offers, and the spouse of one of these clients just accepted a job that will double his pay.
While great news for those in job search mode, this certainly doesn’t bode well for employers who are losing some great talent.
It seems that many employers, during this pandemic, would receive a failing grade in terms of employee retention. So, I thought this would be a good time to go back to the basics.
Let’s start with hiring.
I’m not going to lie to you. Hiring the right people is a lot harder than it looks.
Most people ask a bunch of stock questions and nod their heads as candidates provide stock answers.
They do this three or four times, and then make their selection.
In less than a year’s time, they’re back at it again because the person they hired didn’t work out or left on their own accord.
This is exactly what a business owner was doing, before I sent her a copy of my Selecting for Success Guide, which includes my proprietary process for selecting the right candidate. She read the guide and immediately implemented my suggestions.
She was so excited, that she wrote to me that very same day and said she had the best interview ever with a candidate! She has a few more interviews to go, but is confident that her next hire will be the right person for her organization.
Next, take stock of your current staff.
It’s been a little more than nine months since the pandemic began. You’ve had plenty of time to see how your staff is performing. Believe me when I tell you that what you see today is what you’ll be seeing tomorrow.
Take stock of your team. When doing so, ask yourself the following questions:
- Are you satisfied with how everyone is performing?
- Who should be rewarded for their outstanding performance?
- Who has proven, time and time again, that they’re unable to do the job they’ve been hired for? Do these people need additional training or is it time to let them go?
How’s your talent succession plan looking?
Oftentimes when I ask business owners or executives about their succession plan, they tell me they either don’t have a succession plan or their plan is out of date.
If this sounds like you, don’t despair. Any company that has a talent plan created prior to the pandemic, is in the same position as those of you who either have no plan or a plan that is dated.
That’s right. Succession plans assembled before the pandemic aren’t worth the paper they were printed on. That’s because a great deal has changed since the pandemic began, including the kind of talent your company needs to survive and thrive post-pandemic.
Here’s some good news. You can create a strategic talent plan in less than a day, and for a whole lot less money than what the big consulting firms would have you think this costs. You’ll want to get started on this sooner rather than later, given the trends I’m seeing in terms of employees departing.
Interested in receiving a complimentary copy of my Selecting for Success Guide? Send an email to Roberta@matusonconsulting.com. Put “Selecting for Success” in the subject line and tell me what your biggest challenge is in terms of selecting talent, and I’ll send a copy your way.