When thinking about the battle for talent in today’s market, most hiring managers focus on the recruitment process. However, long-term recruitment is directly impacted by your ability to retain top talent. Here are some of the most common reasons top talent quit and what you can do to stop it.
Almost everyone has heard the cliché, “People don’t leave jobs, they leave managers,” but that old saying rings true. When someone doesn’t like their boss, it impacts every aspect of their job satisfaction. If one person leaves because of a clash with a manager, there probably isn’t much that can be done; however, if one manager has a pattern of losing top talent, there is an underlying problem that needs to be addressed.
Conduct exit interviews with employees and consider anonymous feedback surveys of existing employees to get an idea of how your managers are doing. If you see a real pattern of dissatisfaction with specific managers, it’s probably time to start coaching those people to help them improve.
The Company Culture
A toxic culture is a surefire way to lose great people. Truly talented pros don’t have to put up with a negative culture, they can take their talents somewhere else – and they will. If your culture is overly competitive, if there is a pattern of passive-aggression, backstabbing and political gamesmanship, if leadership micromanages their teams, etc., you probably also have high turnover rates.
Exit interviews and surveys can clue you in to this potential problem, as well. If a toxic culture is impacting retention, it’s time to start instilling new values that are more supportive.
Lack of Recognition
Everyone wants to know that their efforts are noticed, especially when they go above and beyond the call of duty. You don’t have to throw employees ticker tape parades or offer huge monetary bonuses for small achievements, but acknowledgment, recognition and appreciation are key components of job satisfaction. This is especially true for younger talent who simply won’t wait around to be recognized.
You can start simply, by acknowledging people in staff meetings and company newsletters who have achieved something notable. From there, you can work on developing more formal recognition programs that may include small awards or bonuses.
Misalignment in the Hiring Process
Retention really begins with the hiring process itself. If you hire people who are misaligned with the culture of your organization, they won’t ever feel happy or engaged in their work. Hiring well-matched professionals improves engagement, increases productivity and ultimately improves retention.
If you are looking for top pharmaceutical, medical and biotech sales and marketing talent, partner with the experts at SMR Group, Ltd. today. Our team can match you with impactful talent who are well-aligned with your organization and are poised to succeed for the long term. Contact us today to learn more about the ways we can help you achieve your recruiting and retention goals.