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Both attraction and retention of talent gain new scrutiny at a time when talent is very scarce. Compensation is one component of why people choose to work for you, but it is seldom a factor in why they leave. There are three important reasons why people will come to work for your company:
- They want to work for a company that is doing good work. They want to be proud to tell neighbors what they do, and that their work is of benefit to the community.
- People want to feel they are good at what they do. A sense of accomplishment is significant.
- They want to feel that their boss and their company appreciates their progress. This starts with a simple "thank you," but it includes constant feedback from their supervisor.
Conversely, good companies lose when good people feel lack of appreciation for their work. When they are not inspired with a clear statement of why what they do is important, they may look for a new job. When they are not provided with training and guidance, they will leave because they feel they are not making progress. When their successes are not noticed, they may feel that their work is not appreciated. The best supervisors are those who retain their people, and they do this with positive feedback.
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