Rethinking recruitment

Everyone wants a sense of security; the confidence that we will earn enough to support ourselves and our families in the years ahead. But our ideas about what will give us security have changed dramatically over recent decades.

Older individuals are likely to see security embodied in one career, preferably at one firm, rewarded eventually by a good pension. But most mid-career employees today find the notion of trading loyalty for a distant pension deeply troubling; they know only too well that long-term employment is by no means guaranteed. And most younger workers reject the idea outright.

“Security” for most people today comes in the form of options – the confidence that one could gain a new job if this one were to end.

It’s time to reflect this shift in your approach to recruitment and retention. For too long employers have used the old employee contract, which asks for loyalty in return for the promise of long-term protection and care. We have continued to seek unwavering loyalty while trying to obfuscate the reality that layoffs are now an accepted approach for matching workforce capacity to demand. It’s no surprise that it feels disingenuous to many on both sides of the equation.

So, what should we promise people in order to recruit and retain the talent we need? In short, we should promise them that they will be well positioned to leave. Sound crazy? Maybe – but helping people believe they will have more options after working in your firm is the best way to attract and retain them now. Here’s what you should do.

Calculate your human-asset appreciation rate

Take a hard-nosed look at what happens to people who leave your organisation, voluntarily or otherwise. Do they land in better positions than they had with you? If so, you should be proud. That’s great news. If they don’t – if they struggle or are forced to take positions at lower levels – you’ve got work to do.