Useful Guidelines That Can Help Improve Executive Retention Rates

While most business organizations consider finding and recruiting top talent to be their biggest challenge, retaining them for a considerable time period, often proves equally challenging. In fact, high executive turnover is one of the major causes of loss for business organizations across the globe. More importantly it affects the smooth workflow as well as image of the organization besides causing a visible decline in the morale of the employees. The best ways to avoid the aforementioned problems is to enhance the overall executive retention rates. The below discussed guideline suggested by the global executive search firms in India, can help business organizations to ensure the same.

Go For Selective Hiring

In order to ensure a high executive retention rate, it is important to appoint the right executives first. This depends on the kind of hiring choices made by the recruiters, who need to consider not only the skills and experience of the prospective candidates but also the other important aspects of their personality. Choosing the right candidates maximizes the chances of the candidates also feeling satisfied with their position within the organization. This naturally brings down the probability of the candidates looking for other more satisfactory career opportunities elsewhere.

Be Sure To Offer The Right Package

One of the key reasons responsible for low retention rate of executives is their dissatisfaction with the package being offered to them. If you want to keep great talent you are going to have to pay in more than just money.  This high competition levels combined with the shortage of good talent has provided a major advantage to the right candidates. They can take their pick from a choice of job options offering a great compensation package and other benefits. That is why it is essential for the business organizations to review and revise the packages being offered to their top performing executives on a regular basis to minimise the risk of losing them to competitors.

Develop A Comfortable And Motivating Work Environment

The work culture and environment within a business organization play a major role in enhancing the executive retention rate. This is because most executives spend more than 8-10 hours at their workplace. Hence, it is essential for the hiring organizations to ensure that their executives feel comfortable and happy during the time they spend at the workplace. This involves creating a positive environment and a motivating work culture where the executives have ample opportunities to grow professionally. According to the experts from the leading international search firms in India, organizations having such an environment and culture tend to face the problem of executive turnover by a significantly lesser margin.

Provide Them Opportunities To Improve

Many executives chose to leave their current organizations simply because they no longer see a scope for personal and professional improvement. The sense of having reached a saturation point within the organization often makes the top performers extremely restless and this leads them to seek more interesting opportunities elsewhere. As such the hiring organizations need to ensure that they offer ample opportunities for growth and improvement to their top executives to keep the job position interesting enough for them and minimize their chances of leaving.

Top Three Reasons Responsible For The Failure Of Executive Search Campaigns

Executive search has evolved in more than one ways, especially with the integration of technology into the overall search process. This has made it mandatory for the executive search firms in India to come up with unique strategies for recruiting the right talent.  However, many times even the best executive search campaigns fail to provide the desired results leaving the recruiters feel frustrated and even desperate. While there might be several reasons that can lead to the failure of an executive search campaign, the three most important of these are discussed in brief below. The awareness of these reasons can help the recruiters with better and more efficient planning of the search campaigns.

 

Significant Increase In Chaos Related To Candidate Data

Most executive search firms today rely extensively on various online sources to gain personal and even professional details of prospective candidates. However, this often leads not only to information overload but also causes much chaos in terms of the data being collected. The probability of candidates having not updated the information about their skills and competence available online is quite high. Hence firms that rely solely on the information accumulated through online resources might actually miss out on some really great candidates due to outdated information collected by them. Moreover, the sheer volume of data offered by the internet often makes the task of filtering relevant information about the candidates quite overwhelming.  This naturally increases the risk of missing out suitable candidates by the recruiters due to the onslaught of data and information.

Use Of Outdated Executive Search Best Practices

In view of the current data explosion faced by recruiters, the executive best practices that were considered highly effective only a few years back, have become completely outdated today. A majority of search firms still use the methods of identifying and developing candidates, which were established long before the integration of internet technology into the recruitment process. Unfortunately, these processes have undergone little or no change irrespective of rapid technology evolution. As a result recruiters are finding it increasingly difficult to co-ordinate these processes with the new methods of sourcing candidates. Consequently, the overall efficiency and success of the recruitment process is compromised and in some cases it leads to total failure in terms of acquiring the best candidates.

 

Failure To Invest In Proper Expertise

One of the biggest causes of the failure of even the best executive search campaigns is the lack of ample expertise in terms of handling big data. In fact only a handful of top executive search firms in India understand the importance of investing in professionals experts capable of managing and using big data in the most effective manner. Given the huge volumes of data and information that these firms have to analyse and refine on a daily basis, the lack of such professionals in their workforce can prove extremely detrimental for the success of recruitment campaigns. These professionals can ensure that the most relevant information is identified and extracted to maximize the reach of the recruiters to the right candidates. The absence of such professionals in the recruitment teams only leads to complications of matters for the untrained professionals.

Signs Organizations Should Look Out For To Become Aware Of Bad Company Culture

It is a well established fact that the culture of a company plays an important role in attracting and retaining top talent. It not only helps in ensuring greater happiness and satisfaction level of the employees but also improves their overall performance efficiency. However, while most organizations focus on developing a great company culture, only a few already having such a culture in place pay attention to maintaining it. This often results in the gradual deterioration of the company culture and the resulting consequences in terms of increased employee turnover and lower performance. In this context the leading recruitment firms in India advise their clients to keep an eye out for the below discussed signs are indicative of bad company culture.

 

New Recruits Feel Unwelcome

A great company culture makes the new members of the workforce feel wanted and welcome. This is evident from the high level of excitement that the new recruits display even several days after their joining the organization. However, in case the new recruits seem to lack the excitement and the enthusiasm of working with a fresh team, then something is definitely wrong. In case they complain about feeling uncomfortable and unwelcome even a couple of weeks after their joining, the organizations need to consider reviewing their company culture.  

 

Increase In Clashes And Conflicts At Workplace

Every organization faces its share of conflicts and clashes between employees and this is even expected to certain limit. However, if there is a gradual increase in the number of these conflicts and clashes, the business organization should take it as an indication of troubled culture. They should especially feel warned if every small issue evolves into a major conflagration and leaves a majority of the workforce distressed and de-motivated.

Lack Of Camaraderie Amongst Members Of Workforce

One of the biggest indicators of great company culture is the feeling of happiness and satisfaction in the persona of the employees. So, a lack of these vital aspects naturally means that the employees are not finding the company culture pleasant or appealing. The experts from the top recruitment firms in India suggest that the employers should closely observe their employees to assess the level of camaraderie they share with each other. In case they reflect a sense of grumpiness or suppressed anger and tend to remain quite serious and silent during the work hours, then it is time to review and revamp the company culture for better.

Zero Socialization Outside Workplace

Good personal relationships between the employees outside the workplace often form the basis of a great company culture. However, if the members of the workforce do not socialize outside their workplace, they are not likely to bond strongly with each other in the work environment as well. The organizations can help by providing opportunities for socialization outside the professional and stressful atmosphere of the workplace.

Lack Of Values And Trust

Every organization should establish some basic values for its operation and the members of the workforce should be made aware of the same. Lack of such values often leads to lack of mutual trust and this definitely results in the evolution of a bad company culture.

Getting Familiar With The Various Reasons That Make Business Leaders Sceptical About Lean Management

Despite the fact that lean management has been accepted as one of the most effective ways for reducing wastage and enhancing business performance, a large percentage of business leaders still feel sceptical about it. Even those business leaders who have accepted to implement lean management practices within their organizations, have done opted for some specific aspects. There are in-fact, only a handful of organizations, which having adhered to the advice of lean manufacturing consultants India have invested in the complete management system. This naturally gives rise to the question of why business leaders are so averse to this innovative management system that is bound to improve the problem solving capabilities of the organization besides enhancing productivity and quality while reducing costs.

Need To Maintain Status Quo

One of the key reasons that make business averse to the idea of adapting lean management system in totality is their sense of insecurity. These leaders often believe that implementing lean will cause them to loose their social, economic, political and philosophical rights and benefits within the organization. However, these insecurities are often uncalled for and are perpetuated by professionals favouring the classical management strategies.

Such leaders express an interest in lean management only to the extent where their vested rights, power and control within the organization remain unchanged and unchallenged. This naturally leads to the dilution of the lean management tools and strategies rendering them weak and largely ineffective. Given that these contaminated lean strategies do not provide the promised and desired results, the organizations implementing them tend to reject them as useless and ineffective.

 

Failure To Understand The Complete Benefits

Another reason that makes senior management executives discard the suggestion of adapting lean management systems is their poor understanding of the concept. These professionals are either unaware of the various benefits that the organization is likely to gain through this significant change, or are no competent enough to implement the changes to ensure these benefits. In either case, the managers feel challenged beyond their capabilities and also feel threatened of losing their good will and even their position within the organization. The best way out of this tricky situation for such professionals is to outrightly reject the idea of lean management. The few aspects of this management strategy that they might acknowledge and accept are carefully chosen to match their own understanding and competence levels.

 

Finding A Solution

In order to reap the benefits of lean management while also avoiding the above mentioned complications, it is important for business organizations to invest in lean coaching training consultants. These consultants can helps resolve any doubts and queries that executives across different levels might have about this management system. More importantly they can help eliminate the fear of loss of position and control that the senior management professionals might be having with regard to implementation of these methodologies. They will help the executives gain a better understanding about how the implementation of this management strategy can prove beneficial not only for overall organizational growth but also for their own professional and personal development. The training consultants can also provide guidance about the best ways to implement lean technology.

Five Useful Guidelines To Help Turn Competent Managers Into Efficient Leaders

Efficient leaders play an important role in building strong teams and ensuring the consistent growth and success of an organization. However, finding the right executive leaders from external talent pools can often prove to be a time consuming process. This has led the business organizations to look at alternate methods for finding the most efficient candidates through alternate methods. One such method is that of developing leadership talent within the organization itself. In fact, an increasing number of business organizations are becoming aware of the various benefits of using this method. The below discussed five guidelines can help organizations to turn their competent managers in to great efficient leaders.

Clarifying The Difference Between Managing And Leading

According to the top professionals offering leadership consulting services, most managers are unaware of the difference between managing teams and leading them. Educating their top performing managers about the difference between the two is the basic requirement for turning them into efficient leaders. The managers need to understand that while management is about deliverables, production schedules and budgets, leadership is more about people and their needs and expectations.

Teach The Significance Of Constructive Feedback

Constructive feedback is an extremely important tool that can be used by business leaders to motivate their teams and improve their efficiency. In addition, it helps establish a strong relationship based on mutual understanding and trust between the leaders and their followers. Constructive feedback also helps in improving the level of openness between the leaders and the followers. This in turn ensures better sharing of ideas and opinions between the two which is essential for the success of a leader.

Provide A Reminder About The Tenets Of Leadership

The business organizations should make sure that they remind the top managers about the various tenets of leadership from time to time. They need to make the prospective leadership candidates well aware about aspects such as articulating values, need to establish trust, adapt an inspiring approach ad develop the courage to make tough decisions. While these aspects might not necessarily form a part of the working of managers, they are integral to the successful performance of every efficient leader. The organizations might also choose to invest in training programs designed to teach the managers in these aspects.

Make Leadership A Part Of Their Professional Objectives

One of the most effective ways to turn good managers into great leaders is by making leadership an integral part of their professional goals. This essentially means that the business organizations should work towards ensuring that that every aspect of the professional growth of the prospective leadership candidates should focus on improving their leadership performance. These aspects might include the professional evaluation, compensation and even the development goals of these candidates.

Be Sure To Lead By Example

No one can teach the nuances of efficient leadership to competent managers better than great leaders themselves. That is why HR strategy consultants stress on the importance of using the most efficient leaders within an organization to teach prospective candidates by example. It is important for the organizations to understand that the actions of great leaders prove more influential than almost anything they might say or preach.