Now that the economic recovery seems to be advancing, health care executives have to turn their attention to attracting and retaining professional talent. Many key company employees put off retirement or career transitions until the economy improved. Strategic leaders should ask themselves what steps have they taken to protect and transfer the departing corporate intelligence to new people? What retention strategies are you implementing to avoid loosing even more?
Business and Human Capital pundits hypothesize that in a recession-altered workplace, employees are often adrift, without well-defined roles and accountability or managers who have a grasp on how to actually execute the business leaders key strategies and metrics.
Employers who need to drive more profitability, who need to maintain and sharpen their competitive edge recognize that it will be their people who create the differentiating factor. This is especially true in our global economy. The old way of recruiting people, interviewing, selecting, and retaining doesn’t work any longer. In fact, it turns off the very top talent you seek. Strategic leaders recognize the available workforce will actually shrink by 15% or more over the next 10 years. Companies need to be more careful about who they hire because there will be fewer of them to choose. Talent strategy then becomes a revenue generator. Executives have to take their corporate talent strategy to a new level.
Here are ten ways to supercharge your talent acquisition, selection, and retention strategies:
1. Throw out old job descriptions and create performance profiles for each key contributor role.
2. Benchmark your best performers in each job and create Key Performance Indicators.
3. Re-engineer your interviewing process to ask the RIGHT questions.
4. Make Organizational Development & effective Recruitment a priority.
5. Alter the objectives, roles and accountability of HR Management.
6. Hire the right people who shared common values and purpose.
7. Establish an on-line employment presence flaunting their EVP.
8. Implement a top grading culture.
9. Make rewards personable and customized.
10. Provide employee development, mentoring and coaching for high impact employees.
Don’t waste time; implement some or all of these TODAY. If you haven’t started by now you are already behind.