This is one of the most common questions we get asked by our clients. Now that you have found us the “talent,” how do we now hold on to them beyond a year? To be honest, I do not believe we have successfully placed someone until they have been with an organization for at least 3 years. It is not until then can we say that the candidate is fully integrated into the client side, and should be generating the results beyond the clients expectations. Our internal metric for a “successful placement” is 3 years plus!!
Before you start solving your attrition problems, here is a question for you:
Do you understand the root causes of your turnover? And, do you adequately match the solutions to the problems?
You may find this surprising but we encourage clients to “move beyond money.” Otherwise it will never end. The monetary aspect lays the foundation (and money is important, but not the only factor), but we feel that there are many more factors for retaining your executives.
This all begs the question: What does talent really want? In the end, it really depends on the level of executive, but for this discussion we are focusing on middle upper and senior management.
This is what we have discovered:
- “An employee never leaves the company, they leave his/her direct boss.” I think this speaks for itself. It is the most powerful aspect to recruit and retain your best employees.
- Career Development – They must be able to see where they are moving within the organization. We often encourage clients to provide “career mapping” when they initially engage the candidate (for more information on this, please contact us).
- Dynamic Leadership – This also relates to the first point above. The leadership must have passion with a vision.
- Stability of an Organization
- A clear value proposition of where the company is going
- Rewards Strategy – Pyramid based.
- Frenzied Environment – fast paced, with many new opportunities to learn
- Lifestyle Management – meeting their lifestyle needs/choices.
- A good cultural match between themselves and the company value systems. Do not underestimate this.
- A good work environment
- Job Rotation
For more information, please drop us a line and we will be glad to share our experiences with you.
Hunt Partners continues to be the leader in Asian Executive Search. Our areas of expertise cover:
- Financial Services
- Professional Services
- Logistics/Supply Chain
- General Manufacturing