TALENT RETENTION; THE SIMPLE TRUTH From a 'Poacher turned Game Keeper'

Talent walking out the door is often less about your policies and more about the "Vibes"

While policies, perks and terms are indeed very important, these are not the be-all and end-all when it comes to employee retention.

• I have often been asked by clients how they can retain top talent. Many are perplexed by the fact that despite offering very competitive salaries & perks, this doesn’t stop top talent walking away from their organisation(s).

• While policies, perks and terms are indeed very important, these are not the be-all and end-all when it comes to employee retention. Instead, key factors are your organisation's vibes or culture which often have a significant impact on whether people decide to stay or leave. Any leader today who still thinks it's just about the money needs to wake up.

I was often surprised by how easy it was to 'poach' (I prefer persuade), top talent from some of the best organisations in the world 

• In my time in Executive Search, I was often surprised by how easy it was to 'poach' (I say persuade), top talent from some of the best organisations in the world including fast growth start-ups that had already secured funding in excess of $500m.

• Perhaps it was because I was patient and always played the long game. Humans are complex which means there are many variables, so I would observe my target from afar to understand who and what I was competing against while looking for entry points. Perhaps it was also my competitive streak but I never approached potential candidates who were making it clear, they were ready to leave. 

My targets were often, talented leaders who were perhaps 1-3 years away from leaving the organisation

• My targets were often, talented leaders who were perhaps 1-3 years away from leaving the organisation. I would then sit back and watch, time and time again, organisations treating their staff as if they were nothing more than a cog in a wheel including senior execs who were often my target. 

• I was never interested in candidates who were too corporate or ‘Yes’ people. The world was moving too fast and such candidates would struggle if they were unable to innovate, move fast while taking their teams with them. They were therefore of no interest to me.

• Instead, my targets were often under appreciated talent because they often challenged the status quo. Despite their Ivy League education, their greatest strengths often lay in relationship building (both clients & staff) rather than frameworks. I was like a trader looking for under valued shares or arbitrage opportunities.

Organisations often under-estimate leaders who build relationships and mostly focus on those whose contributions they can quantify

• So I would sit back and watch their CEOs and/or the person they reported to, give interviews to Bloomberg, CNBC, FT, WSJ etc accepting praise for the company or fund's performance but very rarely acknowledging staff contribution in the same way they did for new pieces of equipment/tech they'd recently invested in. Organisations often under-estimate leaders who build internal relationships (who are the glue), and instead, mostly focus on those whose contributions they can quantify. 

• I knew exactly what role my targets had played in keeping teams together, in creating environments and cultures where top talent prospered. Yet barely were these leaders acknowledged and/or recognised. 

• Many organisations made it too easy for me and very rarely was I turned down by the people I approached. One red line I never crossed though was my own - I never poached talent from organisations that were clients or partners of mine, even when their employees approached me. 

• This then led to my coaching their executives on leadership development starting with Emotional Intelligence (EQ) and for many, this would prove to be their moat.

LEADING WITH EMOTIONAL INTELLIGENCE

EQ skills enable you to 'read the room' understand the vibes and change course or re-group, if need be

• EQ Leadership is about creating a culture of growth, a culture that encourages curiosity and a culture where communication is key. 

• It's about valuing your staff as people, ensuring they feel valued as individuals rather than replaceable cogs in a machine. 

• EQ leadership is about creating 'Moments' - going beyond the daily routine where memorable interactions & connections happen naturally rather than forcing staff to attend ‘team building’ events. 

• It's about understanding and managing emotions - both yours and your team(s). 

• EQ skills enable you to 'read the room' understand the vibes and change course or re-group, if need be. It’s about creating a positive work environment, a culture where people are being challenged in their roles, a culture which fosters trust, respect & belonging and this extends to leaders making tough decisions for the good of the whole team and/or organisation. 

• EQ leaders don't dither; they take time to assess the situation, are compassionate but when they make a decision, they communicate this with clarity. There's no ambiguity. Nobody feels misled or played.

Many organisations still relying on 20th Century Leadership Styles

Focus on making the office a worthwhile experience – one which warrants a three-hour daily commute

• No organisation in 2024 and beyond will survive long term using 20th century leadership styles. While these may give you returns, this will only be short term given fast changing trends, demographics, technology and the fact that top talent now has more options; local, global, and of course, remote. 

• For example, contrary to media and other opinions, remote work is not going anywhere. Indeed, leaders who are against remote work (where physically this is not necessary), need to find out why staff are reluctant to return five days a week and to then focus on making the office a worthwhile experience – one which warrants a three-hour daily commute.

• Happier, more engaged employees are more likely to stay long term for the right reasons. I have watched employees work late into the night for no extra pay for one leader, while another leader struggled to get anyone to work one minute after 5pm. Same organisation, different leaders.

• So while policies and salary are necessary, they are not sufficient on their own to retain your best people. Instead, an organisation's culture is truly what sets it apart, making it a great place to work and it starts with the leader.

Leadership behaviour and actions significantly shape office culture, with employees drawing cues from them

• Leaders equipped with a blend of Emotional Intelligence (EQ) and Cultural Intelligence (CQ) play a very important role in fostering inclusive work environments. This is where the EQ + CQ = DQ methodology comes into play.

• EQ LEADERSHIP which includes compassion, empathy and actively seeking and valuing diverse perspectives, is key to creating such a culture. Using EQ to build self-awareness, empathy and communication skills.

• CULTURAL INTELLIGENCE (CQ) - Leveraging CQ to navigate and thrive in diverse cultural settings and build strong, global teams & relationships. CQ plays a big part in today's global economy providing leaders with skills to enable them to navigate diverse cultural norms and contexts effectively. 

• DIVERSITY INTELLIGENCE (DQ) - Building DQ skills to create inclusive environments where everyone feels valued and respected.This goes beyond visible differences and recognises the wide range of characteristics, experiences, and perspectives, that make us who we are.

EQ Leaders are Inclusive leaders who view differences (both visible as well as invisible), as an opportunity to drive innovation, creativity, growth and retention. One way to build this is through the ‘EQ+CQ=DQ’ methodology 

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• At ExecutiveGlobalCoaching we use a three-pronged approach for Inclusive Leadership in the era of AI: emotional awareness and empathy (EQ); cultural understanding and adaptability (CQ) and; valuing diversity in creating inclusive environments and systems (DQ).

• SIGN UP below for my (free) Newsletters and receive alerts as soon as new editions are published. In these, I share strategies, tips and insights on blending EQ, CQ and DQ to shape the future of Inclusive Leadership.

NEWSLETTERS

1. Leading with Emotional Intelligence (EQ) and/or

2. Inclusive Leadership in the era of AI 

ABOUT ME - I'm a Consultant specialising in ‘Inclusive Leadership’ advising C-Level executives, leaders, and those in succession, on navigating the dynamic intersection of leadership, technology and inclusivity. At the core of my approach is my EQ+CQ=DQ leadership programme which focuses on building and developing Emotional Intelligence (EQ) and Cultural Intelligence (CQ), recognising these as fundamental pillars in navigating the transformative and evolving environments shaped by changing (social, economic) trends & AI. I have 15+ years of experience in global recruitment, Executive Search & Coaching. Additionally, I am the co-founder of two tech startups: a digital recruitment platform; and a geocode system tailored for emerging markets.  If you wish to reach out to me, feel free to do so on LinkedIn