Retention and Longevity – A Shared Responsibility During Recruitment
Employers call it “retention.” Employees call it “longevity.” In the context of employment, the two words have almost the same meaning. However, the goal of retention and longevity is achieved only when both parties accept responsibility for its success. If longevity is the tower of one’s career, then the foundation is the recruitment process.
This mutual first impression indelibly sets the tone for the relationship, and both employer and candidate must make well-thought-out decisions throughout the process. Many factors contribute to the creation of a successful foundation.
Employers must have a policy and process, so the interview process is polished and organized.
- Ensure you have an appropriate field of candidates. Your recruiter will greatly widen your reach beyond traditional methods and you need this edge to guarantee you have done your complete diligence.
- Don’t confuse quantity with quality. When your access to candidates is limited to ad respondents, it creates a “lowering of the bar” resulting in increased turnover and decreased efficiency. Don’t settle for less, lest you contribute to your company’s demise rather than success.
- Weigh the long-term effects of hiring a convenient mismatch versus an inconvenient superstar. The statistics are overwhelming that short-term pain endured for long-term gain results in exponential success.
- No matter how successful or important your enterprise has become, never lose touch with the fact that PEOPLE are the most important factor in hospitality businesses. Recognize that candidates are the most important “internal” customers, and it’s in your best interest to make a positive impression during the recruitment process.
- Offer a competitive and appropriate compensation package. It’s unrealistic to expect to attract a top-performing candidate if the compensation you provide is below market. More than ever, candidates are considering the entire package including insurance, vacation, paid time off, profit-sharing, 401(k), continued education, travel and dining perks, and myriad other non-cash compensation.
- Prove to your prospective employee that a bonus plan is reality by providing it in writing as a part of the offer. Provide testimonials and statistics demonstrating that the bonus is actually attained. Otherwise, bonus programs can be perceived as mythological.
- Consider work-life balance. Hospitality professionals are required to work nights, weekends, holidays and most hours are “hard hours.” Value their personal lives, and express your values with generous work-life balance programs.
Candidates must commit the most serious thought to career moves. If you don’t, you will never build a career, but have a series of jobs.
- Pursue positions that are in the curve of your career goals, and only make changes for the right reasons. Success is a journey not a race, and impulsive job moves made for short-term reasons most often set back careers.
- Have a long-term vision. Treat your career as your own company or brand. As CEO of your “company,” make the right moves to ensure you are always attractive to prospective employers. You look at a company’s history when considering a financial investment, and your prospective employers will look at your career history and achievements in the same way.
- Be motivated. Tangibly demonstrate to the employer that you are motivated through your knowledge of their company and operations, your expertise in the position, your body language and facial expressions, and a brief note after each interview.
- It’s your interview too, so make the most out of it. Commit time to review your analysis of the company and be ready to ask appropriate questions that will help you make the best decision.
- Be honest. From your resume to your references to every word you speak during the interview process, speak the truth.
- Be real. If you’re not you during the interview process, then you are misrepresenting yourself. The best matches are made in a 100% genuine situation.
Longevity and retention require consistent hard work and dedication to succeed. That’s why they are both so treasured. Research reveals that CEO’s who come up the ranks are more likely to create lasting positive impact on a company. Company mentors and legends who perpetuate a legacy of retention are only created through time.
The benefits for both sides are multifold. For the employer, efficiency is increased and morale is improved while hiring and training expenses are decreased. For the employee, increases in income and opportunities for advancement are achieved, as well as the respect that comes with seniority.
There are many more factors that affect longevity and retention than those listed above, and we will touch on them in next month’s feature, Discernment: Critical Thinking in the Interview Process.