Retaining rockstars at your company will help you create a team that can innovate and navigates change. I talk to many leaders that stress about retaining rockstars. It starts with a strong mission and includes the ability to recruit rockstars. Today, I share with you the truth about retaining rockstars that I learned from my interviews with the Inc 500 leaders. They are proud of the revenue growth that put them in the Inc 500, but these leaders are more proud of their retention numbers. They have nearly zero turnover rate.
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Recruiting and Retaining Rockstars: The Transcript
Disclaimer: This transcript was created using YouTube’s translator tool and that may mean that some of the words, grammar, and typos come from a misinterpretation of the video.
78% of employees are not convinced their leaders have a clear sense of direction for their organization. Think about that for a second. 78% of employees think you don’t know where you’re going. This comes from a Gallup Poll. Gallup has done studies across thousands of companies, and they’ve looked at this, and employees just are not impressed with the direction of the company, at least they’re not convinced that leaders know where they’re going.
My name is Gene Hammett. I work with aspiring companies that really want to activate more growth inside their company, to be leaders that really do inspire a sense of ownership and entrepreneur spirit. And that really does fuel me day in and day out. I create videos like this to help you be better leaders and to grow your company with more intention. Today we’re gonna look at an article I’ve recently written for Inc. Magazine. We’re gonna go over three factors that will help you recruit and retain rockstars.
Let me say that again. Recruiting and retaining rock stars is your goal. If you want to grow your company, you’ve gotta have great people, and you’ve got to keep them. And those people have got to know exactly where they’re going. Recruiting and retaining rock stars is a goal that a lot of companies have. I have hundreds of conversations every month with companies that want to recruit and retain rock stars. So today’s episode is just for you. The first one is creating a compelling vision and mission. Create a compelling mission and vision for your company because if you have a mission that people are centered and grounded around, they know where they’re going.
They have a North Star, right? They have what’s really going on. I love to give you a distinction between mission and vision. Mission is what you hope to right in the world, the wrongs you wanna correct. The vision is what it will look like when you get there when you’ve done your work. That’s the North Star, that vision. So if you wanna create, recruit and retain rock stars, then you must have a compelling vision.
The second one is to give employees a place to grow. You must create a place that people are getting more skills. They’re up-skilling their technologies. They are really increasing the value to the marketplace. They feel that sense of value every step of the journey with you. Now, why would you want people to increase their value with you?
Well, if they feel like they’re getting new skills that are marketable somewhere else, and you continue to give them, and challenge them, and give them the support and give them responsibilities, then know that they’re getting better, then they know they’re worth it, and they know you’ll pay them more, but they also know that the time they spend with you, is not wasted. And that really is critical inside employees mind. So, if you want to recruit and retain rockstars, give your employees a place to grow.
Number three, give them flexibility. We can’t talk about this enough, millennials are just eating up with this flexibility thing. I’m eating up with it, as an entrepreneur. And you’re probably eat up with flexibility. You probably want financial freedom, which is really about flexibility. So if we all want flexibility in our work, how are you giving your employees a chance for that? How does that show through in your place of work, your culture? You know, I understand there are some roles you have to have covered and people have to be in the store, or online and serving your customers and selling them in the right way. But I challenge you to find ways to be flexible.
Find ways to make this work for your employees, because that will allow you to recruit and retain those rockstars. This comes from an article I’ve recently done, I included one of my clients in there, Dagger is an agency of Atlanta, they made the Inc. 5000 list I think it was just over 1000, they grew at a phenomenal rate over a three year period, and really do have a strong, clear mission, and they also allow people to grow. Everyone there I’ve talked to knows that they’re getting skills for down the road. And they have flexibility.
So, how do you contribute to the growth of your company? How do you recruit and retain rockstars? Well, I’ve given you a little bit of a playbook today. There are many more aspects to it. If I can help in any way, make sure to reach out.
If there’s anything else I can do, just send me an email, [email protected]. As always, lead with courage and I’ll see you next time
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