Today's Number 1 HR Priority

HR Challenges

Economic uncertainties, changing technologies, evolving business needs, and talent shortages all combine to give even the seasoned HR professional a headache. On again, off again, on again tariffs, deportations, government funding uncertainties add to the confusion.

According to Gartner,the focus of HR professionals in the future will mostly center on:

• Rethinking the method of leadership development to help fill critical talent gaps.
• Re-establishing the importance of culture within all levels of the organization for successful activation.
• Redefining the organization's approach to workforce planning to make progress and drive impact., and
• Reviewing HR technology strategies to unlock new ways of leveraging tech to maximize value and productivity.

Number One Priority

In an Inc. article written by Ava Levinson, she reveals the finding of Inc's annual CEO Survey, which found that 59 percent of the fastest-growing private companies in America named retaining top talent as their number one priority. Close behind at 46 percent was recruiting top talent. Upskilling/training was the next most important at 45 percent, followed by maintaining employee engagement (43 percent), supporting employee well-being (22 percent), and managing health care costs (12 percent).

Keys to Retaining Top Talent

As reported in the Inc. article, Emily LaRusch, CEO of Back Office Betties explained that one of the ways she has worked to improve the employee experience is by asking them to share a list of their dreams and aspirations. When her employees accomplish significant goals or achievements, the company works to make one of their dreams come true, whether it's sending the employee on a vacation or to an art class they've always wanted to take.

"We're looking at ways to tie in the work that they're doing with the things that fulfill them as human beings," she says. "I think it just helps boost morale, to be seen."

Another HR expert, Tami Nutt, VP at Aspect43, says she's not surprised companies are focusing on retention following a tumultuous few years in talent wars.

"Having those people who are the living, breathing hands and feet of institutional knowledge of that organizational history, that is invaluable to a company's culture - those are things you can't teach."

When asked about HR-related challenges, 45 percent of the Inc. 5000 CEOs say the biggest challenge they face when hiring is matching applicants to their company's culture, while 49 percent report that their workforce's biggest challenge is burnout.

Strategies to Attract and Retain

In an August 6 Achievers article by Rebecca Mattina, she lists 13 key strategies:*

1. Prioritize culture - not just credentials
2. Develop a strong on-boarding process
3. use recognition to reinforce value
4. Offer opportunities for continuous learning
5. Support employee wellness
6. Help employees find meaning in their work
7. Offer competitive compensation and benefits
8. Cultivate great managers
9. Encourage internal mobility
10. Create a culture of feedback
11. Build connection(s) across teams
12. Invest in employee recognition, and
13. Tap into employee referrals

*See article for details regarding each strategy.

ASN Can Help

As professionals, our staff is always following market trends, tracking the current business environment, as well as anticipating not only what tomorrow may bring, but how to meet these challenges and thrive. If you would like to have a conversation about how to plan ahead for success, including strategies for employee retention, we would love to talk with you. Just give us a call.