Employee Retention: Keeping The Right People

A company is known by the people it keeps. This is the battlecry of strong companies that understand the true meaning of Human Capital and what it does to their business. While everyone has been pouring out their time, money and effort in employee retention strategies to help retain their staff, one does not realize that leadership and retention is not always necessarily a good thing.

Surprised? This simply means that you do not have to create a lot of initiatives to retain everyone in your team, especially if you have been underperforming for the past few months. Some companies have not realized that keeping a less than competent workforce can only do more harm than good. The concept of hiring and retaining people is a very dynamic process: the core competencies that you may be looking for in a division manager ten years ago may not be the same as the skills that you seek in your candidates today.

Leadership and retention is all about the right fit. This means that you need to be able to find the right people who understands the business well, and this evidently comes with experience. But years of work history is not an automatic ticket to being a successful leader. One still needs to ensure that they are able to really apply what they have learned over the years, and what these learnings will bring to the job that they seek. Employees are our biggest asset, but if not managed efficiently, we can see ourselves having to pay the price in other aspects of our business.

You know that you would not be trusting yourself with an OJT intern for an extensive medical operation, nor would you entrust the legal services of someone who has just started to learn about business law. While these may be extremes, you want to make sure that you are able to evaluate your current team and understand how your day to day activities are helping you realize your overall goals. Once you are able to identify the potential roadblocks, take a long hard look at your people and make sure that you provide them the right tools and resources to make them successful.

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