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Work Life Balance Podcast: Business | Productivity | Results

Employee Retention Strategies: How Successful Entrepreneurs Hire and Keep Top Players

Successful entrepreneurs understand that creating a winning enterprise is impossible without one critical component: an amazing team. Top-performing personnel, sometimes known as "A players," have the desire, competence, and adaptability to take a firm to the next level. However, in a competitive market, how can successful company leaders continually locate, attract, and keep this level of talent? Let’s examine the methods, attitudes, and best practices successful entrepreneurs use ...
Duration:
9m
Broadcast on:
03 Oct 2024
Audio Format:
other

Successful entrepreneurs understand that creating a winning enterprise is impossible without one critical component: an amazing team. Top-performing personnel, sometimes known as "A players," have the desire, competence, and adaptability to take a firm to the next level.

 

However, in a competitive market, how can successful company leaders continually locate, attract, and keep this level of talent?

 

Let’s examine the methods, attitudes, and best practices successful entrepreneurs use to build high-performing teams that move their firms forward. 

 

Finding an “A” Player includes several important components that I will share with you right now. 

 

Remember that the struggle for top talent never truly ends. By constantly upgrading your strategy to recruiting and maintaining A-players, you'll gain a significant competitive edge and establish your firm as a place where the best and brightest want to grow their careers.

 

Download my complimentary support team performance assessment, so you can customize it for each of your team members by going to https://bit.ly/SupportTeamAssessment. It is a great communication and expectation tool.

 

Get your daily Accountability Minute shot of a single, simple, doable idea, so you can start your day off on the "right foot". You can find The Accountability Minute on https://www.accountabilitycoach.com/my-podcast/ as well as on most podcast platforms and in most English-speaking countries.


I’m the author of many books, including, Excuses Don’t Count; Results Rule, Live Life with No Regrets, No Excuses, The Guide to Stopping Procrastination, The Power of Visualization, My Gratitude Journal, the Work Life Balance Emergency Kit, and The Roadmap To Success with Stephen Covey and Ken Blanchard, and more.  

 

Aim for what you want each and every day!  

Anne Bachrach

The Accountability Coach™

 

Unlock a blueprint to creating and having your ideal business and ideal life by scheduling your free consultation with me today!

Want more proven business success tips and resources? Subscribe to my blog by going to www.acountabilitycoach.com/blog.

Go to https://www.accountabilitycoach.com to check out for yourself how I, as your Accountability Coach™, can help you get and stay focused on you highest payoff activities that put you in the highest probability position to achieve your professional and personal goals, so you can enjoy the kind of business and life you truly want and deserve.

I’m the author of many books, including, Excuses Don’t Count; Results Rule, Live Life with No Regrets, No Excuses, The Guide to Stopping Procrastination, The Power of Visualization, My Gratitude Journal, the Work Life Balance Emergency Kit, and The Roadmap To Success with Stephen Covey and Ken Blanchard, and more.

Aim for what you want each and every day!

Anne Bachrach

The Accountability Coach™

Get your daily Accountability Minute shot of a single, simple, doable idea, so you can start your day off on the "right foot". You can find The Accountability Minute on your favorite platform

(upbeat music) - Welcome to the Accountability Coach podcast. I am thrilled to have you on board with me today. We are diving into the world of proven business success principles that are all about helping you make more money and work less. I'm on a mission to guide you towards your ideal business and your ideal life. So let's turn your goals into reality. This is Ann Bakrak. Today we're talking about employee retention strategy, how successful entrepreneurs hire and keep their top players. Successful entrepreneurs understand that creating a winning enterprise is impossible without one crucial component. Yeah, an amazing team. Top performing personnel, sometimes known as eight players, have the desire, the competence and the ability to take a firm to their next level. However, in a competitive market, how can successful company leaders continually locate, attract and keep this level of talent? Well, let's examine the methods, the attitudes and the best practices successful entrepreneurs use to build high performing teams that move their firms forward. So finding an A player includes obviously several important components that I'm going to share with you right now. The first one is define your ideal candidate. Before throwing a net, choose what type of fish you want to catch. Successful entrepreneurs construct thorough profiles of their ideal individuals, rather than generic job descriptions. Make sure to include things like hard skills and experience. You want to specifically outline the technology knowledge, particularly abilities and quantitative experience required for your position. Consider certificates, attract record of accomplishments in similar roles and familiarity with applicable software or tools. You also want to include soft skills and personality traits. So you want to determine what personality flourishes in your company's culture. Are you looking for someone who is very collaborative and works well in a team? Or maybe you require a self-starter with great initiative and problem-solving skills. Consider the precise soft talents that will enhance your current team dynamic and drive the role's success. You also want to make sure there's an alignment with values. So you want to seek people who share your company's goals, vision and basic values. This is more than just lip service. It's about identifying people who are passionately inspired by your company's mission and eager to contribute to its objectives. So for example, if your firm promotes sustainability, search for applicants who have demonstrated a passion for environmental responsibility in their previous work and have a desire to work for a company that shares those values. Number two, tap into unconventional talent pools. So you want to look outside typical employment methods to find those hidden gems. Let's explore four innovative approaches to find great talent. They're places like employee referrals. Your current team is an excellent resource for locating like-minded candidates through their networks. Use referral programs to motivate workers to propose high-caliber candidates who are a good match for the business culture. The second way is industry events and online communities. Attend conferences, workshops and meetings related to your field. Participate in online forums and conversations to meet possible candidates who are passionate about your industry. Develop ties and promote yourself as an industry thought leader, making your organization way more appealing to those high performers. The third way is partnerships between universities. Collaborate with institutions to attract interested graduates and interns with new insights. Create internship programs that give students significant real world experience while allowing you to elevate their potential and work ethic. Offer scholarships or tuition reimbursement schemes to entice high-achieving students who may be a good fit for full-time jobs following their graduation. And the fourth way is non-traditional background. So consider applications from other industries with transferable skills and distinctive perspectives. So for example, a candidate with an engineering background may have important problem-solving abilities that might be used for a position in marketing or sales. So look for people who are eager to learn and adapt, as well as those who have core talents that can be converted into your business success. Now the third component for finding a players is the power of recognition. Yes, competitive pay and benefits are very important, but let's be honest. Sometimes a heartfelt just thank you can be a powerful, if not more, motivator. When it comes to keeping your top talent happy and engaged, let me give you three examples on how to show them some appreciation. The first one is specific appreciation is key. So ditch the generic, hey, good job and get detailed. Instead of just saying thanks for your hard work, tell them exactly what they rocked. You might say something like Sarah, the way you handled that tricky client question was masterful. Your calm demeanor and quick solution saved the day. Another one is share the spotlight. When an A player hits it out of the park, shout it from the rooftops, feature wins in company newsletters, team emails, heck, maybe even get them a celebratory cake. It shows their efforts matter and inspires others to strive for excellence also. And the third one is to get personal. Everybody feels appreciated in different ways. So some folks beam when given a public shout out, while others might blush. So maybe a handwritten thank you note or a gift card to their favorite coffee shop, hits the sweet spot for them. Taking the time to personalize recognition shows that you care about them as a person not just as an employee. Your A players are the ones driving your company forward. A little genuine recognition goes a very long way in making them feel valued, boosting their motivation and solidifying their loyalty to you. Remember, a happy and appreciated team is a team that sticks around. Invest in your people, and they'll invest in your company's future, which is exactly what you're looking for, right? So putting together an all-star team is a continuous effort. It demands a strategic strategy, a dedication to developing your methods, and most importantly, a true understanding that your employees are your company's most valuable asset. Successful entrepreneurs understand that at each stage of the hiring and retention process, it conveys a strong statement about their beliefs and goals and what they aim to achieve with their company. Are you ready to alter your hiring practices and foster an environment that attracts really top talent? So let me share a few actions that you can take right now. You wanna evaluate your present hiring processes, identify any aspect of your process that may be simplified, made more candidate-friendly, or aligned with your company's fundamental values. So for example, create a stronger employer branding statement. In other words, you wanna define what makes your organization an excellent workplace and use that statement to guide your job listings, your website content, your marketing, and even your social media strategy. And you wanna, of course, think outside the box. You wanna consider unorthodox methods for tapping into fresh pools of bright individuals who may be ignored through typical employment channels. And remember that the struggle for top talent never truly ends. Be consistently upgrading your strategy to recruiting and maintaining a players. You'll gain a significant competitive edge and establish your firm as a place where the best and bright want to grow their careers. Download my complimentary support team performance assessment so you can customize it for each of your team members by going to bit.ly, that's bit.ly/supportteamassessment. It's a great communication and expectation tool. Unlock a blueprint to creating and having your ideal business and your ideal life by scheduling your free consultation with me today. And after investing your very valuable time with me, I hope that you gained insights and ideas that will propel you to greater heights in every facet of your life. I salute you for your hunger for more, your drive for wanting to be even better, and your unyielding commitment to build the business and life you envision. Please share the wisdom by passing on my Accountability Coach podcast to help ignite others, which can be found on most podcast platforms and in most English speaking countries, and subscribe to the Accountability Minute for daily guidance. Want more proven business success tips and resources? Well, of course you do. Subscribe to my blog by going to accountabilitycoach.com/blog and always aim for what you want each and every single day. Until next time, make it a great day. Today and every day, I appreciate you listening. (upbeat music) (upbeat music)
Successful entrepreneurs understand that creating a winning enterprise is impossible without one critical component: an amazing team. Top-performing personnel, sometimes known as "A players," have the desire, competence, and adaptability to take a firm to the next level. However, in a competitive market, how can successful company leaders continually locate, attract, and keep this level of talent? Let’s examine the methods, attitudes, and best practices successful entrepreneurs use ...