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  • Writer's pictureMike Brown

Top 5 Practices for Hiring & Retaining Talent in 2023

A significant pain point for many companies today is hiring and retaining talent. The most common excuse for many companies struggling to fill open positions is to blame entire demographics of workers as "lazy" or "lacking ambition." 🙄

These companies have blind spots. 👀 Many are pretty lousy places to work! They have ancient cultures and compensation models that may have worked in prior decades but not today.

Here are my top 5 favorite checklist items that work well for hiring & retaining talent in 2023 and for the future:

✅ Determine whether your company pays above-market, at-market, or below-market rates. Paying below market means your competitors will attract the best talent, including your own.

✅ Calculate the internal hire rate for open positions. If you have to hire outside too often, are you training properly and allowing people to grow in their jobs?

✅ Include as many employees as possible in the company's bonus plan to secure broad-based support for company goals.

✅ Diversity, equity, and inclusion at all levels of the workforce are strong virtues. Discourage myopia and provincialism. Post your job openings with a DEI statement.

✅ Incorporate a commitment to reducing social and environmental harm into your mission statement. Include this in job postings.

Source for these checklist items: "The Responsible Company" by Yvon Chouinard & Vincent Stanley.


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