A recent article by Kathy Gurschiek in HR Magazine highlights the counties best equipped to support an employer interested in attracting, developing and retaining workers… employee retention. The source of the ranking is a study done by the IMD World Competitiveness Center. The study is titled IMD World Talent Report and the center is a part of the International Institute for Management in Switzerland. Read the rest of this entry »
Today’s post is courtesy of Joshua Ro with People Consulting Group in Seoul, Korea. People Consulting Group places senior executives in manufacturing, information technology, consumer products, banking and finance, telecommunications, logistics and distribution, professional services, entertainment, and fashion. Joshua serves as a member of the NPAworldwide Board of Directors.
Recently, I attended a human resources seminar where most of the attendees were foreign companies doing business in Korea. There I had an opportunity to speak with a HR Director of McDonald’s Korea and she mentioned that they have a high rate of employee retention. The reason is 3 keywords their employees have identified: Family & Friends, Flexibility and Future. McDonald’s Korea’s staff members and employees feel they belong to a Family & Friends, enjoy Flexibility at work which drives better performances, and see a vision for the Future in getting promotion and opportunities.
Then I came to think about the implications of these three key factors in successful employee retention in our own field. The recruitment industry is somewhat notorious for having a high turnover rate.
I understand making staff members and employees feel they belong to a family and/or group of friends is a key factor in retaining them. Amongst any group, there must be some who are doing better than others, yet others who are struggling. Surely it would be your desire to have all of your family members perform well. Thus, investing your time to make them feel they are a member of the family may encourage that high performance and ultimately help you to retain your staff and employees.
Another key to employee retention is providing flexibility at work. We are so used to working from 9:00AM to 6:00PM, but it is important to recognize the different situations of each staff member and employee. Offering flexibility at work, such as giving different options in working schedules, will certainly lift their burdens off from their shoulders and lead to higher performance.
Lastly, envisioning a realistic and tangible future (not a transient one) at work helps retain staff members and employees. Setting goals and making them see what is achievable triggers their sense of fulfillment and satisfaction. This means employees have to see the benefits and rewards generated from both their work and your organization.
Retaining staff members and employees, especially the high performers in the recruitment industry, is challenging. Addressing the “3 F’s” of Family/Friends, Flexibility, and Future improves employee retention and may also increases their job performance and overall satisfaction.
Today’s guest blogger is NPA member Jeff Kortes with Human Asset Management in Franklin, Wisconsin. Jeff has 25 years of experience as a human resources professional, trainer, and consultant. He has held leadership roles while working for companies such as ConAgra, Midas International, SPX, and Regal Ware, Inc. After three facility closures, a strike and a corporate buyout, Jeff started Human Asset Management LLC. He has trained hundreds of first-line supervisors, managers, and executives during his career.
Dave Nerz recently wrote a blog on the fact that voluntary turnover will be increasing as employee confidence in the economy increases. We are in fact seeing that more and more. Unfortunately for most companies, they don’t see it.
Dave posed the question in his last blog, “What is the best way to keep top talent?” The answer that I often tell my retention consulting clients became VERY clear a couple of weeks ago while I was at the WI State Wrestling Tournament two weeks ago.
My observations? I noticed that there was nothing flashy about the guys that were winning. They tended to stick to the fundamentals and do them very well. Guys would have a good takedown, pinning combination, escape on the bottom and ride their opponent (the four key components of wrestling). As I like to say, they were “grinding out their wins.” Nothing fancy, just tough wrestling with a focus on the FUNDAMENTALS. Wrestling has been like that way as long as I can remember. The best recognize that and place their focus on the fundamentals.
Employee retention is the same way. The organizations that are successful do the fundamentals very well. What do they do?
- They communicate with their employees. They keep them informed and involved in the business.
- Provide opportunities for growth, be it in the employee’s job or in their career. They provide variety so people can grow (and stay engaged!) by trying new things.
- They care about the people that work for them. When people have issues, they are there for them and support them.
- Most of all, they have solid leadership. Because the leader is the most important part of any job and the one thing that an employee can’t avoid, solid leadership keeps people happy and generally productive in addition to not driving people crazy so they want to start looking for another job.
This stuff isn’t magic! It is about doing fundamentals well…day after day, week after week. If you want to drive employee retention in an organization….just “grind” away at it!