Retaining People – Human Resource is Abundance yet Scarce

The economy is recovering and we see organizations investing again with a lot of hope. Job market too has recovered due to people movement and creation of fresh positions. If you are leading a team and for next one year, you will be facing enough challenges in terms of retaining people. During this period if we keep up the basics and control things that we can control, firefighting will give decent results. Here are some of the things that you have to do. BTW, the following things should be done “always” irrespective of job market.

Connect with the team. Make them understand about the organization. Give authentic information and suggestions.

Challenge them quite well. Give assignments that make them think and always little bit tough to achieve with ordinary efforts. Appreciate openly and celebrate them when they make big mistakes trying big things they never tried.

Recognize both efforts and results. If you are dealing with less experienced people, sit with them and hear how they solved the problems. You can see their eyes go bright.

Give a feeling that you won’t let them fail. Authentically work on their growth. If they don’t have enough skills, sit with them and draw plan.

Motivate people and celebrate successes. Most importantly respect them. If you turn their suggestions down, do it respectfully.

Keep a close watch on overall performance. Understand the language of performance and never compromise on it. It is lifeline. You don't need non performance even if they have niche skills.

Understand their concerns. Empathize. If their concerns are not valid or reasonable, tell them up front that you cannot fulfill them. Let they also know why it is not reasonable. Set the expectations right.

Don’t negotiate money. If they want to exit because of money, let them do it. If it is more ownership and challenges, give them opportunity that gives them new experience. Don’t negotiate money. It doesn’t work.

Anticipate bad things and work on contingency plans. It is highly important that you deliver even when you don’t have super stars. Have “Plan B”. Start to work on contingency plans.

Always speak the truth. Don’t woo them.

I have been practicing above things past two years and so far it worked. I strongly believe, it will work in future too.