How to retain Senior Executive talent
There are many reasons why a Senior Executive decides to move on from their current position, which is why we want to help you to not only attract, but also retain your quality senior staff.
It is important to retain all levels of staff the best you can, however a business can begin to crumble if those working at the top are unhappy in their role or decide to leave.
What can be done to prevent this?
Why do Senior Executives leave?
In order to retain your senior staff, it is important to understand their motives behind leaving the company.
- Culture clash – differing opinions between senior staff can cause conflict. Whether it is a clash in management styles, or a behavioural issue, other people in the business can have a significant impact in happiness at work.
- Career limits – your Senior Executives may feel that their achievements have limitations, especially in small companies. Progression and fulfilment are key, especially when your staff member is working in a top senior position where financial gain is no longer an incentive.
- Too much pressure – on the flip side, your employee may be struggling with the pressure of being a Senior Exec and could be looking to take a step down.
- Lack of work/life balance – employees are prioritising a healthy work/life balance now more than ever, especially due to the impact of Covid-19.Therefore, if their work is creeping into personal time, this could motivate them to move.
- Purpose – our Principal Consultant Craig says, “Most, if not all, Senior Execs already have financial and job security, alongside the respect of their peers, a sense of self-esteem and feeling valuable to the organisation they already work for. The main factor for most Executive hires is purpose. A well-defined mission. Senior Execs want to be part of something meaningful. They want to have genuine impact in the market, region, or business they’re involved in.”
How to attract and retain top talent
Effective hiring solution
Aligning the right Senior Executive starts with recruitment and teaming up with the right Executive Search talent partner like TechNET CxO should help the hiring process to run as smoothly as possible and provide you with the top talent for your business. Allow our specialists to take this off your hands and Submit a Vacancy or make a Call Back Request instead.
Clear career pathway
We are 99% sure that career progression and development is on every job-seekers list. However, it is important to prepare a clear career pathway for your Senior Executive from day one. They may think that joining your new company at top level may not leave much room for progression, but there should still be ways of advancement and opportunity to upskill.
Flexibility
The world of work has changed dramatically in the past few years due to the pandemic, and companies need to keep up with the standard that is now being set by competitors and other companies with good talent retention.
Flexibility covers many areas including work schedule and location – an impact that home and remote working has had on businesses and something that is sticking around and can be considered a deal breaker for some.
Happiness at work is a huge factor for retention of staff at all levels – including senior talent. Businesses go to great lengths to retain customers and clients, so why slack when it comes to Senior Executives?
