Leaders Retain Top Talent
Randy Wolken, President & CEO
As leaders, it is our job to help our organizations retain top talent. With the critical shortage of workers in manufacturing, and throughout many other businesses, we must do everything we can to keep the talent we have. But, how do we do that?
One company that has excelled at retaining talent is Chick-fil-a. It is the most frequented fast-food chain in 38 of 50 states and is the 3rd largest in U.S. sales. It also has a 97% retention rate among corporate staff and a 96% retention rate of all employees across its franchises. The combination of strong results and strong retention is very impressive. So, how do they do it?
They pay fair and competitive wages, offer a safe work environment, train extensively, have a great culture, and maintain a positive brand reputation. But, that is just the base level of what is needed to be in conversation with top talent. Chick-fil-a leaders also do three other things exceptionally well.
First, they offer a better boss. When it comes to being a better boss, Chick-fil-a discovered that top talent requires a boss who demonstrates they care for their employees by getting to know their hopes, aspirations, dreams, and even their families. They want someone who truly cares for them as a person.
Second, top talent wants a brighter future. They want employers who challenge them, develop them, and grow them. Leaders at Chick-fil-a are prepared to have these conversations with their team members – and deliver on helping them create a better future for themselves and the company.
Finally, top talent wants a bigger vision. They want their employer to offer work that has meaning. Organizations and their leaders must make it a priority to help their teams connect the work they do with the positive impact it has on others inside and outside the organization.
At MACNY, we are working hard to deliver the things top talent want so we can retain them in order to serve you, our members. As the President & CEO, I seek to be this type of person in order to retain the people we need to be to be competitive.
Is your organization doing all it can to retain top talent? Are you working hard to connect with your talent and give them an overwhelmingly positive experience that meets their short term and long term needs? Are other leaders in your business doing the same? Are you talking about what it takes to keep top talent at your organization? These are great questions to ask and answer. Keeping the best talent is the best way to thrive. It is what I am focused on here at MACNY. I hope you are too.