So here we go, headed into even more uncertainty. Just a year ago, the biggest challenge we were dealing with was a new variant of the Coronavirus. At the time, that seemed like a massive dose of uncertainty.
Fast forward one year and we not only have variants still rearing their ugly heads, but we have added war in Europe, rising gas prices, inflation, supply chain issues, and a talent shortage. We, in essence, have uncertainty on steroids, and everything about our marketplace is constantly shifting and changing. And in a world where everything is constantly changing, wouldn’t it make sense you would need to change your approach to how you lead your company and how you solve the challenges and obstacles this uncertainty is bringing to the marketplace?
There is so little you can control in a world of constant change and disruption. Face it; we are living in a time when there is more change happening outside of your business than inside that can impact your ability to be successful.
Luckily one of the things you can control, one of the things you can directly impact, is the one thing in a marketplace of uncertainty you MOST need to succeed. The talent and team you surround yourself with. The higher the quality of your team, the more engaged, the more committed they are, the better prepared you are to handle anything this marketplace throws your way.
The bottom line? If you want to thrive in uncertainty, you need to redefine what you focus on as a leader, and implement the strategies to win The Great Resignation. Just in case you missed it and are not quite sure what The Great Resignation is, let me define it.
The Great Resignation
According to the US Bureau of Labor Statistics, more than 47 million Americans voluntarily quit their jobs in 2021– an unprecedented exit from the workforce and causing labor shortages for employers around the country.
In fact, for most business owners and leaders today, business is good. Really good. But the biggest challenges to growing their organization and selling more products and services center around the supply chain issue and The Great Resignation.
While I can’t do much to help you solve the supply chain issue, I can help you solve the challenge of finding, developing, and retaining top talent. In fact, follow these strategies, and you can win The Great Resignation.
3 MUST-Have Strategies To Win The Great Resignation
1. Proactive Pipeline
You need to start treating talent like sales. Any employee worth employing is most likely working somewhere else. Not only working somewhere else, but maybe fairly happy in their job, and not necessarily looking for another opportunity.
Just like our best customers, we had to identify, nurture and coax away from our competitors; you will need to do the same with employees. So start by treating talent engagement like sales.
- Define Your Target – who is the right fit for your company, and how can you describe them in great detail. Before you start hiring, begin by identifying your ideal employee.
- Create Your Prospect List – then develop a list of people you would like to hire. Pay attention to who works for your competitors, who works in other industries, and who impresses you when you go about your day. Just like you build a sales prospect list, you need a talent prospect list.
- Actively and Consistently Recruit – attracting talent, just like attracting customers, is not going to be a one-time ask. You need to have a plan and a strategy to actively recruit. Networking opportunities, inviting them to lunch, learning more about them, and letting them get to know you and your company is a start.
2. Build The Culture
Those 47 million people who voluntarily left their jobs didn’t leave necessarily because they did not want to work; they left because they were looking for something. They believed a job could offer more than a paycheck. If you’re going to attract talent and retain it, you need to focus on your culture.
- Define Your Culture – whether you know it or not, you have a culture, so you better make sure it is the culture that you want. What experience do you want employees to have, and does your culture reflect that?
- Integrate Values Into Everything – make sure that your culture is a reflection of your values. Your values will attract top talent; the fact that employees see you using them in every decision you make will ensure you retain those employees.
- Lead with Purpose – today’s employees want to be a part of something bigger than themselves; they want to do work that matters and feel like they are making a difference. In other words, they want purpose. Make sure every member of your team understands how what they are doing contributes to the success- of customers, the company, and the team.
- Ensure Ownership – and give them skin in the game. The key to a great culture is that people feel like they belong and they are a part of something great. So rather than tell them what to do, ask them how to do it. When you ask, you engage and ensure your team feels heard and listened to.
3. Invest In Employees
Last but not least; you have to ask yourself if you want your employees to invest in your company, are you investing in them? People want to work for a company where they feel respected, where they have a future, and one where they are growing and developing. Every team member you have wants to be successful, well, almost every employee, and you need to ensure they have the tools and resources to do so.
- Priorities – what is most important, and what do you most need them to do? Ensure every employee understands the top priorities and how they can most contribute to the organization’s success.
- Talent and career development – even if you don’t work in a large organization with upward mobility, every employee still wants to learn and grow. You need to know your employee’s next steps and what they are interested in and provide the opportunities they need to achieve their goals.
- Accountability – Last but not least, you need to reward the right behavior and provide consequences for the wrong behavior. Accountability is one of the strongest ways we show employees we care about their success and that of the company.
Yes, these are challenging times, but it does not mean you can’t be successful. In fact, I think uncertainty is one of the greatest times for businesses to succeed. But you have to redefine success and implement the strategies you need to win this Great Resignation.
Ready to learn more about developing and engaging talent? Check out my new book – Who Comes Next? Leadership Succession Planning Made Easy. https://whocomesnext.com/