What is your “Save” strategy for 2022?

I’m calling 2022 the “Great Retention“! Primarily because I was sick of hearing “Great Resignation” when it wasn’t really the great resignation, it was more reshuffling. A ton of openings allowed workers to upgrade jobs and salaries in 2021, so yes, folks “resigned” but then immediately accepted a job somewhere else they felt was better for their life choices.

We are facing some major challenges in 2022 and beyond. Most of which can be traced back to simple demographics. The reality is, we are going to see more jobs than workers for a long time. This means a few things:

  1. Yes, we can be and must be getter at acquiring talent.
  2. We need to be more flexible with our workforces, if we want to keep and attract talent.
  3. We need the government to open up immigration in new and innovative ways, for both skilled and unskilled workers.

How are you going to Save talent in 2022?

Your recruiting strategy can not only be to actually go recruit more talent in 2022. There must be a simultaneous strategy to retain talent and save talent. What’s the difference between retaining and saving?

Retaining talent is about a systematic, ongoing strategy to improve and change pieces within your work world that helps create an environment where your current employees want to stay longer with your company.

Saving talent is about having a systematic strategy that is designed to talk someone out of leaving your company for another opportunity. A save strategy goes into effect the moment you believe someone is going to leave you. That might be when they put their notice in, or maybe you start to hear about someone interviewing, etc. The reality is, there’s a good chance they are looking to leave your employment.

What does a save strategy look like?

Most save strategies are designed around critically hard-to-fill and/or revenue-focused roles. Roles that will have the most impact by keeping well-performing talent versus having to go out and try to hire new talent.

When you engage a save strategy, there must be concrete steps you take to try and talk the employee out of leaving. This might, and usually, includes multiple people, including senior executives up to the CEO. In a traditional notice situation, you have two weeks or so to work your strategy. While the person is in your employ you can have them travel, meet, and pretty much pay them to do what you need before they leave.

Traditionally, let’s face it, most of us waste these two weeks. We let the employee dictate what they will do and not do. This usually ends up being pretty much useless as the current employee just makes sure people know what they have going on before they leave.

What if you designed those two weeks around trying to do whatever it would take to keep that employee with your company? You might have them meet with the leadership team and discuss why they are leaving and what it would take to keep them. You might have them go try a different job they are interested in to see if they would be opening to transfer to another role or location.

I’ve worked with organizations that when a certain level of an employee put their notice in, they were immediately scheduled for a flight out to meet with the company executive team to discuss why they decided to leave and what the executive team could do to keep them. The success rate was 40%. Not perfect, but instead of hiring ten new employees for every ten that put their notice in, we only had to hire six! That made a huge difference for a stretched TA team!

The best recruit you’ll ever make is the one you don’t have to!

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