Gutsy Leaders Anticipate the Future and |
Hang On Tight to Talent
by Jackie & Kevin Freiberg
Okay, so hereís the pointed question; How many of your employees do you think are interested in leaving their jobs? Well the shocking truth is based on national surveys conducted by the Saratoga Institute, Spherion and Randstad Staffing agencies. Believe it or not, more than half, 51% of the US workers surveyed are interested in leaving their jobs and 75% of them want to make the change within the next year! Hereís the clincher, if you think finding talented people is hard now just give it a couple more years, it could be near impossible!
The U.S. Bureau of Labor Statistics is forecasting a major talent shortage, they estimate that by 2010 there will be about 167 million jobs to fill and only 157 million workers to fill those open positions. With all this data in mind we think it is critical that companies get serious about doing whatever they can to hang on tight to talented people, if not, you may not be able to replace them.
So what is it going to take to hang on to the talent you have?
In the aftermath of 9/11 and with the increasing number of corporate ethics scandals being brought to light, people are continually re-evaluating life/work priorities. The rules have changed and employees are bringing a different set of expectations to work. Again, national surveys show that people in general are placing a huge priority on these things:
Culture is vitally important. But, if you have created a great work environment that tries to meet current day employee expectations, it isnít enough. You can have a great corporate culture, an impressive corporate reputation, and be on the best or most admired lists, but if you hire a person who is a lousy leader, it can be disastrous. Remember, talented people will go to work for great companies but they will always leave because of a BAD BOSS! The only reason to be a leader (to hire a leader) is to serve and if you are not good at serving then you should not be in a leadership position.
Training and education are also key. Employees want to continually stretch, grow and develop. When you provide opportunities for this to happen, you are accomplishing some very powerful things. Honing talent, building confidence and gaining loyalty AND isnít that what your company needs too?
SAS Institute is one of the companies highlighted heavily in our GUTS book. It is one of the most successful privately held software companies in the world. They have taken gusty leadership to a new level when it comes to hanging on tight to talent and preparing for the future. Most IT companies have either downsized, right-sized or froze hiring all together. But SAS Institute did the GUTSY thing, theyíre hiring like crazy! SAS has been bulking-up on talent and taking advantage of the talented people who have, for one reason or another, been left out on the streets. SAS has increased its staff by about 17% in the last three years and attrition has never exceeded 5% in its 27-year history!
Be gutsy, surround yourself with gifted talent, do whatever you can to give them a compelling reason to stay and get the heck out of their way.
Copyright Jackie & Kevin Freiberg. All Rights Reserved.
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