How to Attract and Retain Talent with the right benefits

Tips from the article in COI Journal.  Find the complete article at:

http://www.cio.com/article/753056/How_to_Attract_and_Retain_Talent_With_the_Right_Benefits?source=CIONLE_nlt_insider_2014-05-27

 

The article by , she correctly points out that  with multiple generations in the workforce at the same time – Millennials, Generation X and Baby Boomers – it can be tricky to navigate benefits offerings when recruiting and hiring talent. But ignoring the issue could leave businesses without a crucial tool for attracting and retaining top talent.

In her article, she stresses “One-Size Fits None”  and “Customization is the key”.  But how does one pragmatically and logically achieve this customization without increasing your time spent in the office? How can you continually offer benefits in line with your employees’ needs and their work-life balance challenges?

Well – the most effective way is to get to know and understand your employees.  The best way is to meet with them on a regular basis.  I offer the following tools and training to better understand your employees in a way that doesn’t add time to your already busy work day.

  • Schedule weekly or twice a month one-on-one manager meetings with your employees.
    • Assign them the task of setting it up, defining the agenda, preparing you for the meeting
    • By their agenda, you can tell what is important to them.
    • By asking open-ended questions in these meetings, you can tell what benefits best fit their needs.
    • Delegating them the task of driver doesn’t add time or energy to your plate
  • Assign each employee an Individual Development Plan worksheet (described in detail in the Professional Development Toolkit eCourse or DVD)
    • Assign them the task of creating their own career development plan puts their career path squarely on their shoulder where it belongs
    • By reviewing their career development plans, you can see what it important to them – which allows you to provide appropriate benefits.
    • Delegating them the task of ownership doesn’t add time or energy to your plate
  • Co-create their Performance Commitment Plan (PBC – more details in the Professional Development Toolkit) that outlines the company and department goals
    • Assign them the task of listing how they are going to achieve those department goals, how they are going to show their results in alignment of those goals, and what they need from you to
    • Giving them more autonomy and mastery of their craft is often what driven and high-performing employees crave.
    • Giving them more autonomy reduces your time and energy on their tasks, roles and responsibility
  • Recommend that they seek out mentors and coaches
    • Once you understand their career desires and self-designed paths, you can recommend additional mentors, coaches and experts to help them on their journey
    • Providing them additional training through mentors, coaches and other experts reduces your time and energy on their training and professional development
  • Make use of your other resources
    • Encourage your employees to visit the HR representative for a list of other benefits, job opportunities and training opportunities
    • Setup skip-level management meeting opportunities, so that your employees can meet and discuss issues with your manager or executives.
    • This makes your HR representatives and your executives collaborators in your employees success and reduces your time and energy on your employee’s company satisfaction

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