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It's hard in this market
In one of my classes last week, I asked the participants—who are all rising stars in their firms’ leadership—how many of their companies were trying to fill positions. All but two hands went up.
New grads are getting multiple offers before they get their degrees. Established professionals are getting texts from recruiters several times a week. There are far more jobs than qualified people to fill them.
This means that leaders who are hiring need to make sure they are offering what their current team members and potential team members want.
Make sure your salary and benefits are competitive. If you have not checked in the past year, look again and make sure you update your packages.
Offer what the talented staff want. If hybrid work schedules are what people want (or need, given the challenge of finding childcare these days), find ways to make that happen. If you don’t, your competition probably will.
Show your current and incoming team members that there is a path on your team to the success and fulfillment that THEY want in their careers. People will stay with a firm where they see a bright future.
Make sure you have strong, two-way communication with your team members, and network with them to find people they’d recommend join the firm.
Focus first on retention, then on recruitment. It’s more cost-effective, and a firm with high morale and retention has an easier time recruiting.