Employee Retention Does Not Have To Be So Hard

Just Look at What You've Got!

 What kind of company hires outsiders instead of promoting from within? Maybe not a good one but that doesn’t stop many companies from doing it. Why would anyone who values their employees think this is a good idea and what message are they sending to those employees? To be passed over is damaging in so many ways but it especially damages morale, trust and company culture. Many business leaders fail to see how harmful this practice is and how employees interpret it to mean ‘somebody from the outside is better than anybody on the inside’. This is demoralizing to say the least.

John Hoolon from TLNT recently reviewed a study released by Lee Hecht Harrison that explored why organizations are missing the opportunity to hire from within. The study confirmed that many companies have pipeline problems, as a third of employers think that their internal talent pipeline is poor or non-existent, and only 4 percent think that their talent pipeline is excellent. This might explain why so many go outside rather than promoting from within. Yet Hoolon points out that only half of talent managers have regular informal conversations with their employees about their future with the company. This suggests that employees have good reason to become restless because their managers ‘simply aren’t spending enough time talking to their people about where their careers are going’.

Lee Hecht Harrison’s Kristen Leverone had this same reaction.
“Employees need to know about opportunities for career advancement— how they can continue to learn and grow to meet the changing needs of the organization,” she said. “This requires regular coaching conversations between managers and employees related to the employee’s performance, development and career.”
And, she added this observation about the growing restlessness of employees everywhere:
“Increasingly disengaged in their current roles, employees are poised to change jobs in hopes of moving their careers in more rewarding directions. They’re seeking new challenges and greater meaning. To retain high value employees, managers must step up and provide employees opportunities to grow in their roles and demonstrate a commitment to internal talent mobility. Without a plan or strategy for retention and development, organizations may lack the skills needed to fill key roles and face talent gaps that are becoming increasingly difficult to close.”Hoolon concludes that corporate America is not getting the message and continues to ignore studies like this, choosing to hire from outside rather than devote the energy to developing their own employees and growing their business from within.

How can employees be expected to commit themselves to their organization when they don’t think they have a future with their company? And how long can anyone expect to stay in any relationship if they do not feel valued? For those organizations that get the message and want to change, we recommend doing an employee survey to get a clear picture for where you stand with your employees. Only then can you take action to change the way you treat your employees and start creating a pipeline of talented, committed employees.

For more information about Insightlink please visit us at: www.insightlink.com

Original article here: http://www.lhh.com/about-us/press-room/one-third-of-employers-say-their-talent-pipeline-is-weak.aspx