For the layperson, understanding the meaning of quantum physics and relativity is usually a significant challenge. And it mostly winds up being incomprehensible. I don’t pretend to understand the details and I know that the even at a high level quantum concepts and relativity are often beyond my full understanding. So what does this have to do with business?
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So often recruiters are accused of “stealing your best employee.” While it is true that we do present opportunities to your employees, the fact is, we don’t steal them. To the amazement of most recruiters, the vast majority of the time the employee already has a resume prepared and ready to go.
All we do is ask them if they would be open to discussing a potential career opportunity. Virtually 95% of the time the employee replies, “Yes.” Why would anyone not want to know what is going on in the market, have a discussion around their career or just get a feel for current compensation ranges? Even if they are completely happy in their current position, this is good stuff to know.
The important, and I believe the most relevant question is,” Why, out of the 95% that are open to discussing career opportunities, do roughly 10% indicate that they are happy with their job, and although it sounds like a good opportunity, they aren’t interested in pursuing it further?”
What do these 10% have that the other 90% don’t? That is something a recruiter has nothing to do with. They generally have four things, 1) they are learning in their current position, 2) they feel they are having some impact on the company, 3) they are growing, and 4) they respect their boss. When these four things are part of a person’s job, the best recruiter can’t get them to move.
For lots of reasons, I love my work. One of the reasons is that I get to address a wide variety of challenges in a wide variety of companies and industries. Yet, while the details and personalities are different, many of the issues boil down to being pretty much the same. This week, I was revisiting the issue of an executive totally frustrated with business forecasting. He was “losing sleep” over the feeling of helplessness at missing a forecast through no fault of his organization. It was causing major stress in his life.
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By now we’re used to it. The self-righteous politician who loudly preaches the dire consequences for the country’s failure at family values and then is caught in extramarital affairs; and who none-the-less believe they should still hold their office. Or the politicians and government officials who scream about government waste while feeding themselves at the public trough. And of course, the “fat cat” bankers who (even though their jobs exist today only because the taxpayers bailed them out) believe they are somehow entitled to obscene bonuses. Power, it seems, does in fact corrupt. Worse, the perpetrators are so damned hypocritical and arrogant!
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Part One listed four of seven things companies can do to retain their top talent without spending a lot or giving increases in compensation.
The first four from Part One are:
1) Verbal Praise
2) Achievement Awards
3) Learning and Development
4) Fun and Recreation Events
Each of these can be done at the department or company level. Each demonstrates a culture that rewards people for outstanding effort, provides a positive culture, and a culture that signals respect for the employee.
The last three are:
As a recruiter for almost thirty years, I have interviewed and spoken with thousands of candidates. More often than not, compensation isn’t the reason we are able to get them interested in a new opportunity. Most of the time compensation is a secondary concern. In fact, both myself and my partner, Barry Deutsch, have a long standing policy that if compensation is the issue, we will not work with them.
With our candidates, their primary concern is focused on non-monetary issues. Most of the time it evolves around their boss or the company. This is not to say compensation isn’t important to them, but it isn’t the primary motivator to listen to a recruiter.
Patrick Hardin, in the September 2009 issue of the Harvard Business Review, drew a cartoon showing “the boss” at his desk looking at a partially full glass and saying to his employee (standing there also looking at the glass),
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I have, from time-to-time, been dragged into a conversation around a corporation’s responsibility toward employees with respect to reductions in force. The implication is that corporations fire people too easily. I don’t think so.
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A newly married couple was beginning their first Sunday meal preparation. The young woman began preparing a wonderful roast of beef while the man was preparing the vegetables. As they worked, the man noticed that the wife sliced off both ends of the roast and then rolled it in spiced flower. Curious, he asked, “Why did you do that?” “Do what?” “Slice the ends off the roast,” he responded, “Does that make it juicier or something?”
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I’ve been listening to the talking heads on the news (I don’t watch TV much any more, I download Pod-Casts of selected news broadcasts and listen on my schedule). One of my favorite political commentators is George Will. He’s been complaining lately that our President is way too visible. He’s tired of seeing him – everywhere.
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