Solving the Talent Retention Problem

By Bob Moore, The Effectiveness Coach^®

Executives and senior managers continue to rank employee turnover as one of the greatest challenges they face.  A Harvard University study concludes that 80 percent of employee turnover can be traced back to mistakes made during the hiring or promotion process.

The Job Mismatch

My research reveals that organizations frequently have a mismatch or poor "fit" between people and jobs...not really untalented people. A process aimed at improving job fit is essential for companies who are serious about reducing turnover and increasing productivity and profitability.

The Solution

1.  Profile the Job

The most effective way to begin is by developing a job profile, or benchmark. The Effectiveness Talent Management Process(tm) includes a comprehensive internet-based questionnaire based on an objective, scientific methodology to produce a job benchmark that serves as a basis for evaluating the candidate, along with interview questions for the job. 

2. Effective Interviewing

Using interview questions based on the results of the job profile is an effective method of selecting applicants for inclusion in the candidate pool. This is the step at which many hiring decisions are made using mostly subjective information gathered in the interview process.

3. Assess the Candidates

I recommend a validated, total-person battery of assessments that meets the requirements set forth by EEOC.  The Effectiveness Talent Management Process(tm) identifies and ranks an individual's work style, their rewards and motivators and personal skills.

4. Compare the Candidates to the Job

The final step compares the individual candidates to the job benchmark. The Effectiveness Talent Management Process(tm) includes a comparison report that illustrates the degree of fit for up to four candidates to the job benchmark.  However, put no more one-third of the hiring decision on the results of the assessments, your judgment is essential. 

Where to begin?  Start by clarifying the real reason a job exists, the accountabilities. Determine the three to five measurable results that anyone performing the job is expected to accomplish.  Then implement a process that determines the characteristics required of an individual to achieve them.  You are now be on the way to solving the top talent retention problem.