The Meaning of Entrepreneurship for Today’s Workforce

My last post got me thinking a little bit more about how different generations view the workforce.  I’m interested in entrepreneurship, and frankly, I’m not sure why or where the fascination comes from.  Neither my parents nor grandparents are entrepreneurs.  Everyone in my family worked for “the man” in corporate America.  They put in the hours, gave 100% effort and loyalty to their companies, and were rewarded over the years for their dedication.  My grandparents were particularly loyal to their employers – both of my grandfathers worked for the same major corporations for nearly their entire working life, which wasn't atypical of the generation.  My parents have had a couple employers throughout their careers, but that list has never included themselves.  My brother is an entrepreneur, and a surprisingly good one considering his lack of experience.  I, like my parents, work for an employer as do a majority of my friends.  In fact, I went to college, and then grad school, just so I could have my pick of employers.  However, I have this deep fascination and respect for those who work for themselves.

I think a lot of people in today’s workforce consider themselves entrepreneurs, even in the smallest of senses.  However, I believe this is due to fear, and not true innovation.  Younger generation workers are scared of getting screwed by corporate America.  I’ll admit it, I have felt that way before and worry about it occasionally.  My control freak tendencies push me to identify this area of my life as having some risk, which helps me relate to some of those feelings I'm describing.  Many American workers saw their parents give up everything for corporate life and then get let down.  Workers today are fearful of repeating this in their own lives.  I read today that some hockey teams were releasing some of their business staff due to the recent hockey strike.  My organization could be similarly impacted by a prolonged labor strike, and it’s terrifying that I would have little to no control in that situation.  It’s easy to see why workers are looking at contingency plans, particularly with so much uncertainty about US employment and economic growth.   

For this reason, much of today’s workforce believes that the safest route in employment is entrepreneurship, which is a departure from previous beliefs on the topic.  Owning your own business has traditionally been viewed as the “risky” career move, and the idea it is a “safety” route sounds absurd to most serial entrepreneurs.  In many polls, Gen Y indicates that they want to own their own business.  Decoded, I think what this really means is that people want a safety net.  They want to feel like if they were to be let go from their job, they wouldn't be left high and dry like their parents were.  This creates a disconnect for many workers.  The Society for Human Resource Management (SHRM) has done studies that show many people in today’s workforce like assignments, meetings, feedback, group efforts and after-work happy hours.  These are all signs of people who work for someone else.  Most entrepreneurs experience phases in their careers that come with loneliness and anxiety.  Entrepreneurship is living on the edge of what’s normal, and that is enough to make most people run right back to corporate life.

What are your thoughts?

3 Kick-Butt Tactics that Start-Ups Should Use to Acquire “A” Talent

This post will only scratch the surface of a deeper topic on acquiring the right talent in a start-up or small business setting.  Anyone who has worked for a start-up knows what I’m talking about.  In order to achieve the ultimate goal of growth, you need “A” players (and only “A” players).  Start-ups are generally in a fight to survive within their first several years of operation, and that’s no environment for mediocrity.  There’s a paradox though, because as you’re trying to grow, you need capital for growth, and sometimes the funds are short when it’s time to hire that “A” talent. 

I’m going to give you some strategies for finding talent, but first you need to know what you want.  What are characteristics someone might possess that will enable your business to be successful?  I’ll share a list I compiled at a start-up I previously worked for.  Your list might be different or it could be similar.  My point is that it should exist.  If you can’t name qualities and skills that you need or value in your business, you need to stop what you’re doing and make a list.  Here is mine. 

• Problem solver
• Takes initiative
• Leads without being told to do so
• Is well networked
• Wants to make an impact
• Feels that they have something to prove
• Modernizes
• Innovative/thought leader
• Record of excellence
• Smart
• Adaptable
• Effective communicator with various types of personalities

Some of these things are easier to assess in a candidate than others.  We had methods for assessing each, some perhaps more effective than others.  Each of our hiring managers had an area or two on the list that they were awesome at assessing in candidates.  Start-ups are effective at attracting inexperienced talent, because the opportunity to prove oneself is typically greater than at a large company because so much responsibility is put on each individual.  Peter Drucker argues that start-up environments benefit from “generalists” - someone who has demonstrated learning in one field, who has an open mind and who can articulate relationships between known domains and new ideas.  In my experience, we expressed those qualities as “smart, flexible thinkers who communicate well.”  The salary expectations with inexperienced talent also tend to match the funds available in start-up hiring. 

Now that you have your list, and a better idea of what you’re looking for, it’s time to talk about 3 solid strategies for getting the talent you need.

          1.       Where to look:  Expand your use of LinkedIn and other online communities.

Some recruiters talk about finding talent on other social media sites like Facebook or even Pinterest.  Maybe in the future, these could be valid sites for finding candidates, but as of today, the effort may not be worth the reward. 

LinkedIn caters to the professional world.  In addition to utilizing their job postings, which I recommend, groups on LinkedIn provide a special insight into thought leaders and individuals committed to their respective areas of interest.  Look for groups that target your industry or the particular occupation you are looking for.   Then, look at the discussions in that group and look for consistent contributors, or individuals who start great discussions, or give solid input on a subject.  They took time out of their day to engage in these groups, so unless they were just bored, they are likely interested in the topic and potentially even passionate about it. 

          2.       Behavior to look for:  Don’t consider candidates who are not actively blogging or using social media. 

To blog, you have to be an active thinker and a creative person.  Actively thinking and innovation are prerequisites to many of the qualities on my list, and likely on your list also.  Individuals who use social media think quickly.  There’s so much information on the web, particularly on Facebook, Twitter, LinkedIn, etc., that in order to use these sites, an individual has to quickly process what they are reading, decide whether to respond, and if so, what the message will be, and move on.  It also means they are probably up to date on trends, usually in areas they’re interested in, meaning they are an asset if you’re trying to compete with the latest and greatest – which most start-ups are.  Owning their own business or start-up could potentially be a substitute for strategy #2, but do a good job of assessing why their business failed before committing to the hire.

          3.       Values to look for:  Don’t consider candidates who don’t give you (or can’t show you) measurable signs of their success.

Much of the workforce, particularly those in Gen Y are more interested in looking like winners than actually being winners.  That’s not what you want or need in your company.  The last several decades have been defined by soccer leagues where everyone gets a trophy for participating and dressing in status clothes despite income or what the rest of the office is wearing.  In the interview process, be sure to test candidates on their accomplishments, and ask them to clearly define the results and why they’re important.  Articulation of such points indicates they understand why they are of value, and helps you make sure you aren’t getting a hire that just appears to be really great.  Some candidates put up really good facades, and it can be hard to break through, so make sure you’re convinced they are the real deal before making an offer.

There you have it.  Unfortunately, it’s not a direct science, but still a helpful, straight-shooter way to get that “A” talent in the door.  Just don’t forget, once you get “A” talent, you have to keep it.  

New Year, No Promotion? 4 Little Secrets for Bouncing Back

Happy 2013!

In the spirit of New Years blog posts, I began thinking about the New Year in 2013 compared to last year’s in 2012.  I was feeling pretty low this time last year.  I had changed jobs in 2011, worked incredibly hard at my new job and emerged as a star within both the department and general young talent at the company.  I was the go-to person in HR, and built a reputation for getting things accomplished on time, on budget, and with a high level of quality.  When organizational leaders had HR needs, they wanted to work with me.  I knew the opportunity for a promotion would be coming due to organizational growth, and executed each day with the achievement of that promotion in mind.  To be frank, I busted my butt trying to prove myself.  The holiday season arrived, and my boss pulled me into her office a couple days before Christmas.  I wasn't expecting anything in particular that day, but was informed that the promotion had been given to a colleague of mine. 

I was devastated.  I had taken a significant pay cut when I took the opportunity with that company.  I did it because I wanted to work in technology, and I was confident I could prove myself worthy of a promotion.  I felt I had done exactly that, which made the decision look and feel unjustified.  I equate the feeling to running and pushing up to the top of a mountain, only to emerge at the top of the crest and realize that it was not the top, but rather just partway up a much larger hill.  Runners call this a “false plateau” and it’s a deflating feeling.  My colleagues and even my boss told me that my overall performance was better than the individual who received the promotion - so why didn't I get the job? 

With more than a year to ponder this question, and with some honest feedback from my manager, I realized that I had more work to do.  For me, the skill I needed to obtain that promotion (that I lacked) was the ability to nurture.  I set small goals over the last year to improve this quality, and tried to mimic others who are good at nurturing.  I am steps ahead of where I used to be in this aspect, and others have taken notice of my efforts and improvement.   I was later considered for other (even larger) promotion opportunities at that company, but I ultimately made the decision to relocate, and found a new opportunity that many people including me consider to be a dream job.  Everything worked out, just like I kept telling myself it would. 

I’m not the first person to encounter a challenge like this in my professional career, and I won’t be the last.  If you or someone you know has recently been overlooked for a promotion, I have 4 recommendations based on my personal experience and perseverance.

1. Make sure you’re focusing on the right things.  I was focused on being a strategic planner and executor, because I thought that was most important for the role I wanted.  In reality, I was already good at those things, which made it easier for me to continue getting better at them.  With the benefit of hindsight, I should have been focused on improving my nurturing capabilities.  I should have had a discussion with my manager to determine that this was a deal breaker quality, and that she felt I lacked it.  I was in the dark as to what to focus on, and can only blame myself for not knowing better.  If you are not getting feedback, solicit it.
2. Get a coach.  Coaches can keep us focused on what is important, particularly in difficult times.  Coaches can keep us disciplined and hold us accountable to our plan – and a good one will give you a honest assessment of where you stand.  I personally struggle to set up formal mentors or coaches because I feel it undermines what I’m really trying to get out of the relationship.  I prefer relationships where I can have a conversation with someone about these topics, and there’s no expectation that this is a mentoring relationship where the person is supposed to give me advice as a mentor would.  I get the advice as a “friend” and feel it’s more genuine that way.  Whatever works for you, don’t overlook the benefits of having a coach in your life.
3. Set your sights on interim milestones on the way to your goal.  It’s important to be aware of where you stand today, and what your ultimate goals are in the future.  But don’t fixate on either of these things because they won’t help you move forward in a way that’s most productive.  While focusing on the end result or goal, choose smaller, more visible milestones.  I recommend looking in the 3-6 month range initially.  Achieving goals is more about behavior than knowledge, and having a few wins (even if they’re small) every couple of months will keep you motivated to get where you ultimately want to go.
4. Start moving!  Achievers don’t wait long to get started again after stumbling.  It’s important to regroup, but be sure not to dwell on the negative.  Develop an action plan – this will help more than anything to make sure you don’t get stuck.  Once you have an action plan, get going on it.  That is what great professionals do.

Inspired by Daniel Shapero's LinkedIn blog.

5 Reasons You Should Hire Job Hoppers

I recently attended the HR Management Association of Chicago’s (HRMAC) annual conference.  The day held 4 informative sessions on HR topics – a nightmare for non-HR geeks.  I’ll come clean…I was excited all day long…please don’t judge.  I was particularly intrigued and even inspired by the first speaker, Penelope Trunk.  Since the conference, I've begun to read her blog regularly and find her ideas counter-intuitive  provocative and meaningful.  You should also check it out:  www.penelopetrunk.com.  She has created 3 start-ups, is considered a guru on Gen Y, and writes about several topics including homeschooling, coaching and career advice.  This post is based on the notes I took during her HRMAC presentation “How to Talk the Talk with Today’s Top Talent” in November 2012.

Before her HRMAC presentation, I’ll admit, I was expecting the general discussion around collaboration and technology, however, she went deeper.  Without giving away the details of her full presentation, I do want to address one idea she had, which was that it is best to hire job hoppers.  Don’t panic…I promise I’ll explain.  This idea (among a few others) actually offended many traditional HR professionals in the audience and was a hot discussion topic during lunch that day.  I generally enjoy a good button pusher.  To lay the foundation for this argument, we need to briefly discuss Gen Y (the Millennial Generation).  I belong to this group, so perhaps there is vanity in this post, but I hope it gets you thinking.

Generation Y was dubbed “Generation Me” by Jean Twenge in her 2007 book on the topic.  This group is characterized by having a sense of entitlement, narcissism and rejection of social conventions. They are also known as the "Trophy Generation", or "Trophy Kids", a term that reflects the trend in competitive sports, as well as many other aspects of life, where mere participation is frequently enough for a reward (Ron Alsop, 2008).  Next, we’ll move onto some fun statistics characterizing Gen Y.  Studies by the University of Michigan and UCLA revealed the percentage of students who said being wealthy was very important increased from 45% for Baby Boomers (surveyed between 1966 and 1982) to 70% for Gen X and 75% for Millennials. The percentage who said it was important to keep up to date with political affairs fell, from 50% for Boomers to 39% for Gen X and 35% for Millennials.  "Developing a meaningful philosophy of life" decreased the most, across generations, from 73% for Boomers to 45% for Millennials. "Becoming involved in programs to clean up the environment" dropped from 33% for Boomers to 21% for Millennials (Michelle Healy, 2012).  Generation Y has also led a trend towards irreligion that has been growing since the 1990s. 32 percent of Americans born between 1983 and 1994 are irreligious, as opposed to 21 percent born between 1963 and 1982, 15 percent born between 1948 and 1962 and only 7 percent born before 1948 (talkingpointsmemo.com, 2012).

Now that you know a little about the generation that led Penelope to outrageously declare that hiring job hoppers is a smart move, let’s discuss the crazy reasons used to support this notion.

1.  Job Hoppers are more intellectually challenged.  Most jobs have steep learning curves early on.  After about 2 years on the job, you have learned just about all there is to know in that position.  This makes you wonder how someone in a job for 20+ years keeps their brain sharp.  Due to this fact, job hoppers know more.  When you change jobs often, you’re always challenged, and your learning curve remains high – for office skills, industry specific skills, and even your emotional intelligence.  Navigating various corporate hierarchies, and dealing with different kinds of drama, the more you will learn about people (an important skill).
2. Job hoppers have more stable careers.  You might think I've been drinking at this point of this post, but I promise, just listen.  Corporate America doesn't provide stability to its employees – you have to create this on your own.  Layoffs, downsizing and JIT hiring/contract workers are the realities of today and probably tomorrow.  Creating careers stability begins with networking since most people find jobs through their network and not by applying to as many jobs as possible on the web.  Working for lots of companies means your network is larger than someone who stays put for awhile.  For this reason, job hopping creates stability.
3. Job hoppers are higher performers.  I may keep crossing lines, but we might as well keep going at this point.  Hopefully you are at least intrigued.  Job hoppers are always looking to do well at work because they know they are within a year or two of leaving.  In this situation, they need to be conscious of their resume and the skills and projects they’re tackling.  The want/need to become experts in their field.  If nothing else, this helps them get their next job.  You can’t job hop if you don’t add value at each of your jobs.  Job hoppers are usually over-achievers on the projects they’re involved in  - they want something good to put on their resume.  Companies benefit more from a strong performer who’s in a seat for 18 months than a mediocre employee that they keep for 20 years.
4. Job hoppers are more loyal.  I know, this is completely counter-intuitive, but keep reading.  Loyalty is caring about the people you’re with, and job hoppers are great team players, because that’s all they have.  They don’t identify with a company’s long term performance, but do identify with their work group’s short term performance.  They want their boss to give them a good reference and work hard to gain their respect.  For networking purposes, they want to network with co-workers for the purpose of future employment.  They don’t have 10 years on the job to fix a first impression, so they want to make sure those who work with them or meet them find it to be a good experience.  And it if you think about it, this makes sense for a company, too: the company isn't hiring you with any decade-long commitment, so you would be foolish to think you have to give one.
5. Job hoppers are more emotionally mature.  It takes self confidence and knowledge to know what you want to do next and go get it rather than stay in a seemingly safe place.  You must be committed to personal growth to embrace challenging your learning curve rather than being complacent in your career (over and over).  It’s rather brave for someone to say, “ I've only been here for 6 months, but it’s not right for me and I’m leaving”.  Most people around you will tell you to stick it out and give it a year or two.  But, why would you waste this precious time doing something you wish you weren't doing?

And there you have it.  The notion sounded far-fetched when Penelope started talking about it.  However, the points make sense, and I've seen real examples of this (and I’m sure you have to) in my professional world.  The new kid with the great degree or fantastic experience comes busting through the doors, and hits the ground running.  They make changes and/or have a significant impact on projects, their department of entire function in the workplace very quickly.  Then, before you know, 18-24 months into a job they are knocking out of the park, and they leave.  People are surprised that they are moving on since they did a great job, and the organization is unhappy to lose them.  The tenured employees say scathing things about how they are a job hopper and can’t stay in a job very long.  But imagine how excited the next company is based on what they can do.  Now for the tough part, they have to replicate that high level of performance all over again, and in just as short a time span.  It’s like running one marathon after another.  Could you do that?

I’d love to hear your thoughts on this topic!

Performance Looking Low...Try MBO

Attention Leaders and Small Business Owners!

Picture this for a moment – you are about to enter your yearly performance review.  You have no idea where you stand.  How does that feel?

Let me answer this for you – it feels pretty terrible.  Your feelings about it range from “I’m doing OK” all the way to “I’m getting fired”.  It’s probably causing you some anxiety, and causing you to generally hate performance review time.  Assuming your reviewer feels you are performing OK, you will probably get some mediocre feedback, and leave the review session just to work another year and end up in the same anxiety filled discussion with your supervisor next year.  It’s no wonder that most people hate performance review time.

Now…picture that you were given 5 distinct goals and objectives to achieve above and beyond your daily tasks and your boss outlined what success looked like against all 5 goals.  Going into your review, whether you nailed all 5 or not, at least you know where you stand and can appropriately prepare for the discussion with your manager.  Now, let’s take it a step further and brainstorm…what could make this process even better in terms of managing your performance?  Let’s say you got to be involved in the setting of those annual goals – how would you feel then?  It would be pretty fair to me at the end of the year, particularly when I had a say in the goals that I set out to achieve.  In addition to feeling fair, I would be appreciative that I knew exactly what I had to do to meet (or even exceed) expectations at work.  In this scenario, it’s up to me how successful I am in my career.

Academia calls this process “management by objectives” or MBO.  It a process first conceived in the 1950’s, and while some consider it a dated process, I argue that it still has a place today.  I would caution that if you use MBO, you should be aware that context can sometimes be lost if not properly managed (i.e. availability/quality of resources and relative buy-in by leadership/stake-holders).  I also argue that ensuring goals are SMART is essential to making the process effective.

Are you ready to make a change in your leadership style?  Are you interested in implementing MBO for your team or organization?  Not exactly sure where to start?  I recommend business owners look at what the organization needs to accomplish over the course of the year for you to define it as a successful year.  This is an entire process unto itself, deserving of another post.  However, I would assemble your leaders if applicable, and ask where they want/need to be at the end of the year for their piece of the puzzle to be successful.  They should be prepared for such a meeting by gathering any necessary information from their subordinates.  Make sure the voices of your front line are heard when setting organizational goals – you’ll be further along as a company, and likely better serving your customers.  Be prepared for, and encourage brainstorming – organization of the company level goals can come later.  I’ve seen companies come away from these sessions with anywhere from 5-50 organizational goals (depending on the size and complexity of the organization). 

Now we know what needs to be achieved, but we need to decide who is going to achieve what.  If you have leaders in your organization, divvy up the responsibilities according to who has strength in particular areas.  If those leaders have teams, then it is their responsibility to divvy up responsibilities among team members to help the department best achieve results.  Now, we remember that MBO is an inclusive process.  So while the organization may dictate WHAT needs to be achieved, the employee may have great ideas regarding HOW.  Actually, they probably should…that’s why you hired them, correct?  While collaborating, it is the responsibility of the manager to ensure the goals meet SMART criteria (specific, measurable, attainable, results-oriented, and time-bound).  Call on staff to be creative in the ways they help solve the company’s problems, but make sure it’s done in a way that does not compromise values which may be important.  Running someone else over in order to achieve your goals is not the right way to go about it.  Also remember that if you have staff that is frustrated by processes needing improvement within the company, finding a solution can be part of their goals.  Call on your staff to do more than identify problems, make sure they’re helping you solve them also.  Again, this should be why you hired them.

Ask your employees to be honest about their performance against goals and objectives.  Most of them will be, and may even be harder on themselves than the manager by not accounting for circumstances outside their control.  You must do this as their leader, and re-calibrate them if it happens to keep them on track to achieving what is necessary.  I recommend a minimum of a mid-year session to review goals and help make sure everyone is on the same page.  Remember, I called this a process earlier, which means it’s ongoing, and not an event.  Some managers use the event model to assess performance and give feedback in a manner where they just can’t wait to see the expression on an employee’s face when they read it.  That’s not the point of performance management, and is a waste of your company’s time.  You should never feel surprised in a review session – you should know EXACTLY where you stand because you have been measuring yourself and receiving feedback regularly.

If your organization would like assistance with implementing MBO or goal setting processes, please contact me today!

Great Business Disguised as HR - The 3 Top Characteristics

Self reflection can be difficult.  However, it is important for learning and to move forward – so I make an effort to do it occasionally.  2012 has been a great year for me so far and I've been fortunate to have several great opportunities come my way and fortunate to have the courage to take those opportunities.  Upon a little deeper thinking, I got to look back on an event that I still have mixed feelings about.

I changed jobs this year.  But that’s not what I’m talking about.  Prior to leaving my previous employer, I was being considered for an opportunity outside of HR – and seriously considered the opportunity.  This is a cause of reflection, because the executive who interviewed me for the role stated at one point how surprised she was to find strong strategic talent in HR, and never would have previously considered an HR person for roles that were more operationally based.

This statement has stuck with me because my “insider” view of HR is very different than that of external views.  Now, you might say that I shouldn't be shocked by this view of HR – it’s pretty standard.  However, the views of HR have been steadily changing for years, and I've been fortunate to have been surrounded by strong business people (notice I didn't say HR).

Ultimately, I moved on from that organization and stayed in an HR role.  When I was leaving, my previous manager seemed surprised I was staying in HR because she thought I was “too talented” for an HR role.  This pattern in thought process toward HR may have contributed to my decision to leave that company.  However, I can say I feel more confident in my ability to elevate the HR function knowing that I was seen as too valuable to an organization to be wasted on such work.  I've thought about characteristics that may have shaped that perception and have listed them below.  These are characteristics I aim for because they’re important in any role in any business and should be that much more important in HR.

1. Know. Your. Business. – Not the HR business, but the business you support.  Know it inside and out and better than anyone else.  Understand why things function the way they do, and why some decisions made have been good, and others not so much.  Understand the struggles of every employee group.  Understand the future plans of your organization, and how all of the puzzle pieces may (or may not) fit into that.  Understand the financials - and the perception of financial health.  In other words, KNOW YOUR STUFF.
2. Be process driven – even in the entrepreneurial world, where process is often overlooked (intentionally or not intentionally), there are more times than not where it will be appreciated, and lead you to solutions that move your organization (and you) forward.
3. Get shit done.  Pardon my language, but a colleague once said this to me on a job analysis questionnaire, and I've never heard it put better.  In any part of the organization, leaders and executives like people who get it done.  Now, I’m not saying that values should be compromised to do so, but you understand what I’m saying.  Be the person who makes moves and makes things happen.  Everyone in every department wants that kind of person on their team.

So what is my advice to business owners and leaders looking to beef up their business?  Get great business people in your organization.  Get great business people particularly in HR.  Utilize HR beyond its administrative, cost center function.  How do you do this?  Look for some of the things I mentioned above.  Look for the same things in your HR staff that you would look for in profit and strategy driven functions.   I promise you won’t ever be disappointed with such a decision.

What are your thoughts on this?

Guest Post - Three Retention Secrets for a High Performance Environment

High performance environments are stressful workplaces, to say the least. When results are king, mediocrity is disdained and failure intolerable. Some employees burn out in the struggle to consistently meet the high expectations typical of these environments. Meanwhile, the individuals who thrive in these environments have intense ambition--and are always on the lookout for greener pastures.

How, then, can high-performing employers reduce turnover, and better retain employees?

The problem may be in the reactive approach companies take when addressing retention. Why not address retention proactively, as a strategic issue? As I see it, there are three things any organization can do to proactively combat turnover.

1. Hire Retainable Employees

The pressure’s on from day one in a high performance environment. While some thrive under pressure, others will falter. By only hiring people who are likely to excel in your organization, you can reduce the chances of this type of casualty.

Work with your managers and top performers to identify what backgrounds, skills or personality characteristics your retainable employees have in common. Then, use this insight to guide your sourcing and screening.

2. Don’t Just Fill Roles - Plan Careers

It’s easy to focus on the near-term when managing people in a high performance environment. You bring in “A Players” with the expectation that they’ll succeed in the role for which you’ve hired them--and unrealistically assume they will stay in that role forever. You need to think bigger.

Career-pathing doesn’t have to be a formal program. The key is to guide your employees in mapping out how they can attain their career goals within your company. Even a rough or incomplete plan is better than no plan at all. Simply having conversations around an employee’s goals shows you care about the employee’s future, which in turn breeds loyalty.

3. Make Retention Personal

Every employee is motivated by different things, and retention strategies thus need to be tailored down to the individual level. Successful organizations don’t view retention initiatives as “one size fits all.” Instead, they’re making retention strategies personal. How? By simply asking, “What motivates you?”

You may be surprised to find that monetary incentives are low on the list of responses you get. These days, “A Players” are more concerned with challenging work, personal and professional growth opportunities, work/life balance, and workplace flexibility.

If money’s the only thing you’re offering employees, don’t be surprised if they look elsewhere for what really matters to them.

What retention strategies have you seen work in a high performance environment? Leave a comment, and join the conversation.

Special thanks to Kyle Lagunas for his contribution of this article to the CatapultHR blog.

About the Author: Kyle Lagunas is the HR Analyst at Software Advice. He blogs about trends, best practices, and technology in HR, talent management, and recruiting. This article originally appeared on his blog: http://blog.softwareadvice.com/articles/hr/5-retention-strategies-for-a-high-performance-environment-1062112/