The topic clearly resonated with the industry, with over 600 individuals registering to attend.
Led by Gina Meibusch, Senior Program Designer at Art of Mentoring, the discussion touched on the challenges of retaining and hiring talent in the current talent market, and how organizations can meet these challenges with a strategic approach.
Here are five things we learned from The Secret to Keeping Your Best Talent in 2022.
#1 The pandemic affected everyone
It’s practically cliché at this point to talk about how much the COVID-19 pandemic turned the world on its head, but even as the end appears in sight (knock on wood), the effects continue to ricochet through the world of business.
While the first phase saw managers and business leaders grappling with newly-remote teams, the end of 2021 revealed the dissatisfaction that had been bubbling away for workers all along. Queue the Great Resignation - workers leaving their roles in droves in search of higher pay, better conditions and better career development opportunities.
“We’re really talking about a war for talent,” Melissa pointed out in the webinar.
As a result, businesses need to overhaul their employee value propositions to boost attraction and retention of their workforces - or risk haemorrhaging dissatisfied workers.
#2 Employees are looking for real support
A big paycheck isn’t enough to satisfy employees - and with historic stagnation in wage growth, even those aren’t easy to come by anymore. Instead, employees are seeking companies that can support them in holistic ways, from meaningful work, to organizational trust and personal wellbeing.
One of the key areas companies need to focus on is Growth Opportunities. In his HR Predictions for 2022 report, Josh Bersin writes “Learning, skills and career pathways will become business-critical.”
By placing career growth and learning as a key pillar of their Employee Value Proposition, companies can attract and retain good people far more easily.
#3 Training & mentoring are peas in a pod
When tackling complex needs like growth opportunities, companies may look to a single solution. However, a single approach is rarely enough to create the culture of growth and learning that employees are looking for.
Instead, by combining approaches like training and mentoring, businesses can not only create a more robust culture, but also get more out of each tactic in the process.
“I think mentoring is a really perfect partner for training… We’re encouraging people not to make mentoring about teaching a new skill. It’s better to handle that as training. It’s much more effective that way, and infinitely more scalable,” Melissa shared.
“I agree,” Lisa added. “The combination of the two will get the best growth outcomes for individuals and organizations.”
#4 Capturing the wisdom and knowledge of baby boomers is essential
The baby boomer generation is rapidly approaching retirement, and they take with them decades of experience and knowledge, unless it is captured and shared first.
“There’s a wealth of knowledge and experience among baby boomers that needs to be captured,” Lisa pointed out. “A culture of learning creation, capturing and sharing from all directions is really critical.”
Both mentoring and training are essential for preventing this priceless resource from walking out the door. Many baby boomers are keen to leave a legacy behind, and are happy to participate in mentoring and training initiatives to pass on their experience.
“Technology also plays a key role in capturing and sharing knowledge in a way that is useful and needed,” Lisa added.
#5 How to build a learning culture
Without a learning culture, providing proper growth opportunities is impossible. In a learning culture, employees have agency to upskill and reskill themselves, and are rewarded for their efforts.
“It starts with finding and recruiting people with curiosity to learn,” said Lisa. “It will be easier if your people are already eager and motivated by the concept of not knowing, getting out of their comfort zone and continuing learning.”
Lisa also shared a number of other ways to build a learning culture, including:
- Encourage experimentation
- Democratize learning creation
- Making learning a core value and priority
- Set up personalized learning plans
- Encourage learners to share their skills
- Apply learning and neuroscience with the AGES model.
A multi-pronged approach is essential any time a company is attempting to build or change culture internally.
Hear the case studies
Both Melissa and Lisa shared case studies from customers that employed strategic mentoring and training programs.
To hear the case studies and catch further insights from the discussion, you can watch the webinar recording here.