I've been in Executive Search for over 25 years. I've worked through a number of recessions, including the GFC, I've seen mass hirings and mass firings. I've seen the appearance of job boards, Linked In, and myriad other tools to help hire great talent. Clearly, as you'd expect me to say, nothing beats a good executive search firm. Nothing. But that's another post.
Never before in my 25 plus years have I seen retaining top talent being so important or difficult. Employees expectations have changed SOOOOO much in that time. Greater expectations combined with a greater understanding of their value, and rarity make it challenging for employers. This article has some very good ideas and examples around employee retention. BUT they are all from Companies with massive workforces, HR teams and budgets.
Most of our clients are start-ups and scale-ups, founder lead, VC backed, and don't have those kind of resources. They do though still have the retention issues, perhaps even more so, and they can't always throw money at the problem. That can be a good thing, money doesn't fix all problems.
For insights on how to retain top talent in a start-up/scale-up environment, reach out to me or one of the team, or follow my talent/retention content here (4) LinkedIn