To retain top performers you have to start by recruiting the right people. It’s important to review the need for the position then analyze and quantify the skills and experience needed, as well as the right fit in the context of the organization’s values and culture. Topping it off with critical soft skills and attitudes, and a high level of energy and drive. All these elements then need to be compared to a candidate’s precisely measured talent profiles.
Recruiting the Right People
The quality of the hiring selection and recruiting process begins with an effective benchmark for each position to be filled. Job descriptions, position advertisements, screening and final interviews, expectations, and hiring selection should all be grounded on precisely analyzed factors.
Ideally, your human resources department identified these factors long ago. The challenge is how to accurately measure these traits. Through Strategic Talent Management, science provides the solution. By utilizing STM, the candidate is invited to take three or more brief assessments which filter specific attributes identified in the benchmarking process. These factors measure the candidate’s fit to the position, values, culture and management style of the organization, which are the top factors people look for in organizations, according to McKinsey’s “War for Talent Report”, 2008.
Organizations benefit when they can access key assessment data in a single talent system. This valuable information is used to select the best candidate, providing precise information about motivation, diagnosing behavior issues, and steering a clear course to engage with organizational goals. An effective talent system is like having a schematic and troubleshooting guide for an appliance.
The next step, referred to as on-boarding, is a critical bridge from the signing of hiring documents to a mutual commitment between the employee and the organization. Onboarding is a step that is often grossly overlooked. Not simply an item on a checklist, the key to successful on-boarding includes a thorough and consistent process that tracks progress, along with a seamless integration of an organization’s plans and goals.
It’s true that first impressions matter and affect retention. According to various studies, 90% of employees make their decision to stay at an organization within the first six months. This is consistent with various studies over the years:
- Corning Glass concluded that “employees were 69% more likely to remain with the company after three years if they completed a full orientation program”
- A study of the on-boarding process at Texas Instruments found that employees who went through an improved on-boarding program were fully productive two months sooner than employees in a traditional program.”
Top performers, identified early and effectively on-boarded, will maintain and expand their high energy to perform and drive to achieve.
From Hire to Retire™ ensures:
- Clarity about the direction and future of the organization
- The need for, and expectations of the role
- Accurate measurement of the organization’s culture and management style
- Operation within a scientifically-based, benchmarking process
- Expedition of recruitment with science-based assessments
- Implementation and maintenance of The Talent Life Cycle™
- Production of new hires as soon as possible
- Utilization of the tools from the recruiting process to manage career development
(Coaching, Training & Development and Performance Management =Retention)
- Succession goals through effective management
Ready to Take the Next Step?
Are you ready to take the next steps to improve your hiring process? Contact STM today, and we will help you put the right talent in the right position, right now. Not ready to contact STM? No problem! You can learn more about what we offer on our solutions page.