By Jas Singh
n business, often too much personal success can be seen as “dangerous” by the powers that be. The more someone becomes successful, and the more responsibility they have, the greater the possible negative impact if they leave. It’s why often the top performers are wrapped up in long term incentive plans or share ownership schemes.
Yet competitors will always be sniffing. Whether it is business, sports or entertainment, competitors are always willing to offer increased financial rewards or opportunity. Which can be devastating to hiring managers. We’ve all been in a situation where you spend years grooming and developing the best talent. Or trust people with confidential knowledge and information. Even go out of your way to make special changes for them. Only for them to jump across to a competitor and become your biggest threat.
As employee responsibility increases, loyalty becomes even more important.
In my ten years as a hiring specialist, I can say that the vast majority of business relationships that turn sour occur when one of our own is suddenly batting for the other side.
Yet some organisations are different. Take a look at some of the best companies in the world and you’ll notice that employee retention is much higher than the rest of the industry. And if people move its rarely to a competitor.
Here are some ways to hire people who won’t leave for a competitor.
Human beings are creatures of habit. Out tendency to change behaviour is very limited (unless we really have to). Psychologists and sociologists have known for centuries that the more often we have done something previously, the more likely we are to do it again. Despite what we consciously think, reason and say.
Hiring managers should examine carefully those candidates who move from competitor to competitor to competitor. Off course they will have good reasons. It’s rare that people will usually blame themselves. But the simple facts are – if they’ve jumped ship regularly, they’re likely to do it again.
But the irony is hiring managers are more than willing to take this chance. In fact they usually want to hire people who only come from their competition. It makes them feel safer. Even though the best and most loyal candidates can actually be those who come from other industries.
Top hiring managers don’t always see the competitions talent as golden.
How focussed are they on money? £$€
Financial rewards are a key component of a successful job. Everyone deserves the right to earn what they are worth. Yet top performers are rarely primarily motivated by money. Those who are will always be on the lookout for a better deal.
Hiring managers should be wary of those people who are primarily interested in the green stuff. Who want massive salary increases. Who have no other genuine reason to move other than more money. Who want big sign-ons, guarantees or golden handshakes, hugs and kisses.
These people will nearly always move on again for a better deal.
And the most likely person to offer this is your biggest competitor.
But guess what.
In most cases, want to know what’s the most important factor in not losing your people to the enemy?
You. The hiring manager.
In my experience, the biggest reason why most candidates are reluctant to move to a competitor is the gratitude and loyalty they feel they owe to their current manager. They just can’t “do” their current boss over. The better the relationship between the manager and employee, the more indebted both parties feel towards each other. The less they entertain the competition.
Which means successful hiring doesn’t stop once you’ve had a candidate accept an offer. It requires consistency, fulfilling promises and making sure you empower and inspire your people. Doing your very best to make sure they succeed. The greatest leaders of all even put the success, rewards and recognition of their followers before their own.
Good management is the best non-compete there is.
Losing great people hurts.
Losing great people to your competition is agony.
Great hiring managers invest in their hiring skills to build teams that the competition can only envy.
It’s the best investment any leader can make.
How do you develop your hiring power?
Be A Great Leader. Increase Your Hiring Power.
If you are a hiring manager and want revolutionary results, please reach out here