The economy is up and so is job-hopping. How can you attract superior talent to grow and improve your business while holding onto your top performers to refine your business?
85% of employees leave their job because of their manager (SHRM). Over 66% of CEO's say that talent-related issues are their top concern (HBR).
In previous articles, we've discussed how crucial talent retention is to the overall growth and health of a business. As the economy grows and skills become more specialized, the competition for talent is on the rise. This has driven culture, engagement, and leadership to the top of the human capital agenda (Deloitte University Press).
The dynamic nature of the current business environment has become so fast-paced that many workers are unable to find jobs even as companies report that they can't find the people they need. Meanwhile, over 70% of employees are disengaged (Gallup).
The results are stunted growth and stagnant wages. Turnover is high and morale is low. No wonder job-hopping is on the rise...
One of my clients said, "I need to hire better people who will work well within our culture." We mapped out a plan to improve the quality of new hires, retain top talent, look deeper into employee potential, manage poor performers, and create better soil where the best-fits can take root and flourish.
In today's modern workforce, it's time to look beyond the resume and add some dimension and sophistication around hiring and developing talent. There is a science to understanding what motivates people (beyond money).
People have drives. Drives create needs. People behave in ways that meet their needs. When needs are met at work, performance, productivity, and engagement improve. Scientifically valid data and analytics ensure more accurate and informed decisions to improve team dynamics and identify potential.
I've placed over 500 CEOs in my career. I hired based on three factors: head, heart, and briefcase. Most recruiters only check the briefcase (experience, skills, and education) - all of which can be found on the resume. Some will dive deeper into the heart (values, interests, and passions) during the interview.
But how many really measure the head (behavior and cognitive ability)? Skills and values can change, where behavior and cognitive ability are stable over time. Here's the good news, if you can measure it, you can manage it.
The best way to measure the behavior and cognitive ability of your workforce and use that data to create a customized solution is The Predictive Index (PI). PI is one of the most scientifically valid solutions on the market. Nearly 20 million people have used it in the last 60+ years (over 2.5 million in the last 12 months).
Make what you've got work, and then make it better.
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About the Author:
David B. Nast owns Nast Partners based in the Greater Philadelphia area. David is an Award-Winning Certified Business Coach with over 25 years of experience in Executive Coaching, Leadership Development, Training, Change Management, Career Coaching, Talent Acquisition, Executive Search, and Human Resources. He has coached thousands of CEOs, Business Owners and Executives.
For additional insights from David, visit his LinkedIn Pulse Author Page and follow him on Twitter @DavidBNast. You can also email David at dave@nastpartners.com.