Retention is the new Talent Acquisition

Finding the right talent in today's marketplace is one of the most difficult tasks business leaders face.  Ten years ago, unemployment rates were just over 10%.  A lot of good people were out of work and many more were under-employed.  Now, US unemployment rates are at record lows.  In Oregon and especially the Portland area, unemployment is even lower.  https://www.bls.gov/charts/state-employment-and-unemployment/state-unemployment-rates-animated.htm  Those good people that were looking for a job 10 years ago are now happily employed.  

Generally speaking, this is good.  Good for the economy and good for business.  However, there are still plenty of businesses still looking for good employees and they are looking to steal from the competition.  Talent Acquisition professionals know that the best place to find talent is in the active work force.  Reaching into the workplace and connecting with the "passive candidate", the individual that already has a job but that is also open to learning about other, is the way to find top talent.  Talent Acquisition teams that need talent know where to find these candidates and they are coming for your employees.

Keeping your talented team together is your best strategy for staying ahead of the Talent Acquisition opposition.  Individuals that are working but are also open to "better" opportunities are working for you right now.  Focusing on retention will keep you ahead of the game.  But, how do you retain people? Engage.  Leaders in your business need to connect with the employees, and really engage them in the workplace.  Regular "check-ins" are a great way to really know your employees and learn how they are doing.  This is not just idle chit chat.  

A real check in should involve actual conversation about the workplace and the relevant issues employees face.  What's going well for you lately? What, if anything, are you struggling with? And, How can I help you? are good questions to ask.  Your report was very helpful in the client meeting, thanks.  I appreciate your input in the meeting this morning." A short but honest discussion demonstrates to your team that you are paying attention to their good work.  It opens the door to direct, supportive feedback.  It helps creates a work environment that will make your employees scoff at the head-hunters call and will keep you ahead of the Talent Acquisition competition.