We all know that recruiting top executive talent is crucial to the success of your organisation. However, once you have found these talented individuals, how do you retain them?
Employee retention is a key aspect of any organisation’s success, and in this blog post, we’ll explore some practical strategies for retaining top executive talent in the social care sector.
Develop a strong company culture
One of the most important factors in retaining top executive talent is developing a strong company culture. Your company culture should be built on a foundation of values and goals that are aligned with the mission of your organisation.
From the very beginning, your executives need to fully understand and embrace the organisation’s values, taking them on as their own. Ensure your executives have a clear understanding of how the organisation’s values are played out in their specific role, and provide clarification and guidance as they grow into their responsibilities.
Want to know if the members of your team are feeling connected to your organisation? Be Recruitment can help you initiate an employee attachment inventory to better understand and manage the perceptions new executives have formed of the organisation at the 90 day mark.
Offer competitive compensation and attractive benefits
Compensation and benefits packages are a critical factor in attracting and retaining top executive talent, but the reality is that most NGOs don’t have large enough budgets to compete with the private sector.
With those budgetary constraints in mind, you may need to think outside the box when it comes to making your roles attractive to executive talent.
Make your offer as competitive as possible by offering additional benefits beyond salaries and bonuses such as flexible working arrangements, discounted rates for childcare, time in lieu, and professional development opportunities.
Provide opportunities for growth and development
Consider how you can provide opportunities for professional development, such as attending industry conferences or workshops, enrolling in courses or training programs, and providing access to mentors.
Top executive talent will be looking to see if you have a strong learning & development plan in place, and will want to know that you have allocated budget towards professional development.
Consider offering 4-5 days per year as paid leave for training and development, and invite your executives to look out for courses and conferences that are attractive to them and beneficial for their role.
The investment you make in their growth and development will be well received by your executives, and pay long-term dividends for the organisation and your staff too.
Set goals early and provide regular feedback
Establishing clear goals and specific guidelines early on (particularly in the first 3-6 months) is vital to helping your executives see how their efforts fit into the wider aims of the organisation.
Provide regular and constructive feedback on how your executives are progressing towards the goals you have set, and help your executives identify areas for improvement and further development.
Encourage a culture of continuous growth by communicating openly and honestly with your executive team – not just on a weekly basis, but also through performance reviews, coaching, and mentoring.
It’s also important to allow executives opportunities to provide their own feedback, and share ideas they may have for the organisation, which can help them feel more connected and committed for the long-term.
