Tag Archives: Employee Retention

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Poach or Be Poached?

Employees, , , , ,

A recurring question that you face—and one that I am asked occasionally—is it okay to poach employees?

And/or what should I do when someone is poaching my employees?

First off, when someone offers one of your better employees $10k more and they leave, either they were unhappy with you, or you were underpaying them, or underutilizing them, or all three.

However, what if they leave for just a $2-4k raise? or for no raise at all?

That is why I believe this question, “Is it okay to poach?” is the wrong question to ask because it covers up (hides) the larger dynamic happening in the market place.

It’s a seller’s market.

Your company is either growing or shrinking when it comes to talent retention and acquisition.

The growing companies in your market are winning employee market share—and the shrinking companies are losing out on the best employees. And poaching has nothing to do with it.

By my definition, growth means growing in reputation, career opportunities, and client opportunities. These companies are becoming a true Destination Company®️.

Since I published my prescient book (Become A Destination Company®️) over three years ago, I have seen the competitive nature of attracting and hiring employees become even more acute.

The newer generations of good employees have even higher standards on what they want from an employer. It is a race to the top!

Your challenge: Build a company culture that promotes growth from the inside out. Where all the leaders at your company are focused on developing and retaining top talent.

Back to the question – Is poaching ethical? It is not professional when it involves you walking onto job sites. But your company should be so attractive that great employees want to walk across the street to work for you.

Preventing Good Employees From Getting Away

Employee Retention

What causes worker exodus and what should you do about it?

Gallup’s extensive research tells us that there are 12 key elements to keeping employees engaged:

  1. I know what is expected of me at work
  2. I have the materials and equipment I need to do my job right
  3. At work my opinions seem to count
  4. The mission or purpose of my company makes me feel my job is important
  5. My associates are committed to doing quality work
  6. I have a best friend at work
  7. At work I have the opportunity to do what I do best everyday
  8. In the last seven days I have received recognition or praise for doing good work
  9. My supervisor is someone at work who seems to care about me as a person
  10. In the last six months someone at work has talked to me about my progress
  11. This last year I have had opportunities at work to learn and grow
  12. There is someone at work who encourages my development

Source: Gallup

When employees leave or disengage they will cost your company revenue and profits from productivity and customer loyalty. These 12 factors above create a compelling call to action for your managers and leaders. You can reset your focus on employee engagement by:

  • Consistently and inspirationally communicate the vision, mission, values, and goals of the company; and reinforce weekly/monthly what each person’s role, contribution and impact is towards that.
  • Engage employees with regular (individual and team) meetings to demonstrate that you are a resource as well as an inspiration for them to do an extraordinary job.
  • Give employees the opportunity to grow in their field, by offering training, professional development and challenging work, and your coaching.
  • Acknowledge that the economy has pressured the company in ways that have often taxed employees. Recognize and appreciate their sacrifice and how it made a difference in the company surviving.
  • Demonstrate your leadership through authenticity, integrity, and passion to bring the company to a new level that can only be accomplished by a united team.

In an effort to survive this economy, leaders and managers must focus on their greatest asset. The impact of an engaged workforce on productivity, customers and profits will fuel your company’s growth to the next level.

Not sure where to begin? For those of you not coaching with me, you can begin by giving your employees a “survey” based on the Gallup Poll.

You can take it a step further, by engaging your employees in a beginning or mid-year retreat – to gain their buy-in to your company’s growth plan and future. For information on how this works, email me at Jeff@JeffreyScott.biz