Succession Success: Winning the Talent Game from the Start
In the previous set of articles we have covered the importance and benefits of having an outstanding succession planning program. This article highlights the top of the funnel to fill your succession plan. Seeking new talent is a critical element for every leader. It is challenging, now maybe more than ever. Talented future leaders want to know that they will have a future with your company. Your succession planning program allows you to offer that, with confidence.
Finding great talent is the most challenging task I hear about from retail leaders. It does not matter what position they are looking to fill. And that was before we hit the pandemic and what many people are now referring to as the ‘great resignation.’ Attracting, identifying, and ultimately hiring people that will make a significant long-term difference is the hardest thing we do. And that only scratches the surface. We still have to train, develop, nurture, and prepare them for even greater things. All while keeping them engaged in our business and not seeking something new. Each of these elements have become even more important over the past eighteen months as the initial wave of the pandemic wore down and people began to reevaluate their working situations and environment.
We all work from the same pool of potential candidates. Yet some companies seem to be able to find the cream that has risen to the top. Are there certain things that can be done to ensure that the opportunity presents itself to you as well? What are the elements in your control as a store leader, or a district leader, that can ensure you attract and maintain the best talent?
The Container Store has historically been a top-performing retailer. They are largely recognized as an excellent place to work and consistently attract high caliber individuals. They pay exceptionally well, provide outstanding benefits, and routinely appear on top places to work lists. Wegmans grocery stores is another consistent top performer when it comes to ranking places to work. They have been in the top 10 on Fortune’s list for the last several years.
Looking at what sets these companies apart, you may say that you cannot control the biggest items. As a field leader in retail, you do not decide the benefits packages that are offered, or whether tuition reimbursement is made available to associates. But when looking at some of the details that come from these surveys, often the most common responses from the associates that work in these retailers does come down to what is controllable at the individual store level.
Great managers. Ninety-three percent of employees surveyed said that “management is honest and ethical in its business practices.” Ninety-six percent said they had “great bosses” and 97 percent claimed to benefit from “great communication.” — Wegmans 1
Flexible scheduling. Employees praise the flexibility they have in finding the right schedule, and the company offers telecommuting for certain positions. — Wegmans
Positive culture and working environment. Ninety-eight percent of workers called the workplace a “great atmosphere,” while 95 percent said the facilities contribute to a good working environment. — Wegmans
Each of the above examples are entirely in the control of the local manager and team. Employee first, team, family are all words that survey respondents used to describe The Container Store. 2 REI is another retailer high on the Best Places To Work reports. Employees cite culture, community, and shared interests as reasons they choose to work there.
Several years ago, REI decided to place their associates and their commitment to spending time outdoors with friends and family ahead of what has been known as the biggest shopping day in retail. REI decided instead of opening early or creating extravagant sales for Black Friday, they would instead close their stores to encourage people to be outside doing what they love (hint: not shopping). That is a full commitment to your purpose.
Hiring is challenging enough by itself. Couple that with the desire and necessity of finding excellent talent, it is no wonder people list it as the most difficult thing they do in their leadership role. As leaders, we are asked to do many things. Hiring may be the most important simply because it leads to so many other critical aspects of success. Once you hire someone with tremendous potential, the effort must shift to engaging and developing them for the future. All of that must be done without losing sight of the need to maintain a positive work environment and looking for the next great hire.
What do you do to identify and maintain top talent?
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1 https://www.eqapplied.com/bariso/how-wegmans-became-one-of-the-best-places-to-work-in-america
2 https://www.greatplacetowork.com/certified-company/1000436