Every manager would love to retain their top performers. One thing that is MASSIVELY overlooked when it comes to improving retention is that retention starts before your top performers even join your company!
Of course, you have the basics: competitive salary, a clear progression plan, cultural fit, etc. While all these help, they all have a problem:
If you hire this person and then, a year later, another company offers them a better salary/progression/culture, why would they not leave?
This begs the question, 'How do we offer them something that our competitors can't'
In most cases, you simply cannot compete with every other company's salaries, benefits & progression plans.
But one thing that I have found helps retention more than anything is:
When you recruit, focus on PASSIVE TALENT. This is huge because people who are not consistently looking for a 'better deal' are more likely to stay with you for the long term.
This is why I am so convinced that direct headhunting is the best way to go, it just makes sense as the best long term solution to bring people into the business who are less likely to look elsewhere if they see a shiny new job at your competitor on Linkedin!
⭐ For better retention: Focus on reaching out to passive talent instead of people actively looking!
*Note that if people have been laid off and have a good track record, they may be just as good retention-wise as they did not leave by choice!
