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How To Stop Losing Your Best People To Your Competition

How To Stop Losing Your Best People To Your Competition
by Roberta Matuson

Recently, I was speaking with an owner of a recruitment firm who told me a story about a 26-year old tech worker who his firm just poached. The candidate wasn’t actively looking for a new opportunity and seemed satisfied making an annual salary of $450,000.

In less than two weeks, the tech worker received and accepted an offer from a competitor, which included a 44 percent pay increase and the opportunity to work directly with the CIO.

Maybe you think you have nothing to worry about since you’re not in the tech business. Neither was this company. I wish I could tell you this fierce competition is limited to tech workers. It’s not.

I recently had a similar conversation with the CEO of a company that operates cafes. He told me that a day doesn’t go by when someone isn’t attempting to poach one of his workers.

Here are some things you can do to ensure this doesn’t happen to you.

Conduct stay interviews.

Start asking employees if they’d recommend your workplace to others. If they hesitate even for a moment, ask how you can improve, so you get a different response the next time you ask.

Take this information and make immediate changes to avoid future departures.

Timeout for a coffee campaign.

Carve out time during the week to take an employee for coffee. Invite employees into your office for coffee or suggest heading out to the local coffee shop.

The idea here is to have uninterrupted time to speak freely. You’d be surprised how much people are willing to share when they have a cup of coffee (or tea) in their hand. Put this event on your calendar and hold that time slot as sacred.

Read full article on MultiBriefs.