Two of your favorite restaurants want your feedback. “What would you add to our menu?”
You immediately dish the details of your grandmother’s Roast Chicken with Chestnut Stuffing. “Everyone loves it!” you gush.
One chef adds it to his menu. The other completely ignores you. Which restaurant just won your loyalty?
Is it any different with your employees?
A recent Talent Management Survey discovered two trends among hiring managers in the American finance and accounting industry:
- Retaining talent is becoming increasingly challenging.
- You’ll struggle to hire mid-level talent, while executive professionals are a dime a dozen.
Regarding compensation they found:
- Employees cautiously test the water when it comes to their salaries. Hiring managers are ready to cough up the cash.
- Hiring managers are most willing to negotiate salaries, but career development opportunities keep employees happy.
Career Development can’t be that important, can it?
A recent article in Chief Learning Officer says that “39 percent of finance hiring managers said their company has a harder time retaining talent than three years ago.”
The Workplace Insights Survey discovered that 26% of employees leave their companies because there is a lack of career development opportunity.
Yet during the hiring process, only 14% of hiring managers would consider negotiating leadership development opportunities, while 39% would happily discuss salary. Wow. They value people like some restaurants value customer feedback.
As Mike Myatt points out in Forbes, today’s top talent wants development opportunities. If you don’t provide the opportunities, someone else will.
And speaking of restaurants…
You’ve got to go to Grandma’s Kitchen; they’re featuring grandmother’s Sunday Roast Chicken with Chestnut Stuffing. Make lunch plans. It’s delicious!
Here’s to your Next Level,
PS: You can lower turnover and improve engagement, performance, and productivity… by developing self-managed teams and leaders.
If your business or job is near Tulsa, check out the menu of Next Generation Leaders team-based coaching. Cook up some career development with 4-5 other professionals in a 4-week leadership transformation. Who could you send from your company?