5 Suggestions For A Strong & Sustainable Talent Pool

Enterprises of all sizes are struggling with a lack of adequate talent. Organic growth and sustainability require the proper people in the right seats, who stay with the business and are part of an eventual succession plan. Want to ensure that your business continues to grow and flourish?

Ask yourself these 5 questions:

Has your culture kept up with the times?

Consider the concept of “presence with purpose” in determining a flexible work environment. Make sure being in the office has actual meaning for employees and isn’t just about face time. Creating a hybrid working model involves trusting your associates and ensuring that being in the office holds purpose. Work-life balance is table stakes today, and if your workers don’t feel they have it, they may leave for another job.

Is your talent pool diverse in background, age, and abilities?

If you’re only hiring people who look and think just like you do, you may be missing out on the benefits of diverse decision making and leadership. Studies show that diversity of thinking and background, and inclusivity, are crucial to your bottom line. Speaking of your bottom line, broadening the talent pool is critical today to hire the best workers.

Do you have a people pipeline, aka relationship with a local high school, college or university for mentoring, training, and hiring interns?

Developing long term relationships with educators and programs that are good feeders into your business pays off. Establishing a scholarship in a related major is another way to develop that talent pipeline and gain positive attention for your business. Attending college job fairs, offering mentoring in your field, and establishing relationships with instructors can all lead to referrals of bright young talent.

How strong is your employee retention?

What are you doing to retain your very best? Younger workers cite the importance of meaning in their work as a high priority, and your clients and customers appreciate doing business with a firm that gives back to the community. Consider regular charitable activities such as runs for charity, a clothing drive for a local university’s student interviews, or a half day helping at a local food bank to not only give back, but bond your team together as they work towards a common good. The team that does good together, really does stick together.

Do you and your leadership team intentionally and regularly provide mentorship to employees at all levels?

Mentoring has not gone out of style. It’s everyone’s responsibility to be looking both ahead and behind them to see who they can help bring up in the organization. Employee satisfaction is higher when a person has a relationship with a true mentor who is both showing them “the ropes” and also advocating for them for opportunities and advancement.

People are the lifeblood of any organization. By taking an honest look in the mirror and being willing to embrace some new strategies, you will increase your success in the war for talent!

About the Author:

Carina Diamond has several decades of experience launching, building and scaling businesses in financial services. Stella Secunda provides consulting to develop talent, create successful transitions, and implement organic growth strategies. Visit www.stellasecunda.com