John McQuillan is the founder, chairman and CEO at Triumvirate Environmental.
In today’s competitive business environment, the ability to recruit, retain and develop employees is critical to organizational success. Companies that excel in these areas are able to secure and retain top talent and, over the long term, build a motivated and skilled workforce.
Many companies struggle with high turnover rates, which can be largely attributed to inadequate training for supervisors. This lack of training is due to an underlying notion that subject matter expertise equates to leadership ability. The adage that people join companies and quit managers is true. To avoid turnover, you need to provide comprehensive soft skills training for your leaders. That includes teaching them to manage teams and pass institutional knowledge down to their younger colleagues. Here are four things you should focus on as you plan an employee retention and development program.
Recruit
Begin by developing a talent pipeline with targeted recruitment strategies such as internships and on-campus programs. These initiatives help attract young talent and provide them with meaningful experiences that encourage long-term commitment to the company. Emphasizing diversity, equity and inclusion (DEI) as part of the hiring process ensures your company is providing equal opportunities to new talent. It is critical to open your talent pipeline early, with high school and college internships designed to lead to full-time positions.
Our internship program brings in college students and even some high school students to give them meaningful work experiences that can lead to full-time positions. We also offer tuition reimbursement, a key motivator for young talent. By starting early and offering a structured path, we help secure a continuous flow of talent.
Train
Both hard and soft skills training are vital for preparing employees to excel in their roles. As such, you must provide extensive training beyond the mandatory requirements, including additional hours of training annually in both technical and interpersonal skills. This training should encompass new hire onboarding for leadership, as well as professional development and access to extensive online learning resources.
At my company, we provide 150 hours of additional training every year to ensure our employees are well-rounded. This approach means that by the time an employee is promoted, they have already been exposed to essential management concepts. As a result, our employees are able to transition smoothly into their new roles with the skills they need to succeed.
Mentor
Mentorship programs and career succession planning are crucial for your employees’ development. Providing employees with direct access to senior leadership and structured mentorship opportunities fosters a culture of growth and support. Experienced professionals play a key role in guiding new hires, ensuring the transfer of knowledge and skills.
I emphasize the importance of mentorship by creating programs where seasoned professionals are expected to spend time with younger colleagues. This cultural expectation ensures knowledge transfer happens naturally. For instance, we have explicit requirements and a cultural norm that our experienced staff mentor new hires, helping them navigate real-life situations and grow quickly within the company.
Incentivize
Offering incentives such as tuition and professional certification reimbursement motivates employees to pursue further education and training. It also helps in retention efforts. Competitive compensation is critical in reducing turnover rates, as employees are more likely to stay with a company that recognizes and rewards their contributions. We have found that moving employees up quickly in terms of responsibility and pay, particularly for those working in expensive markets, ensures they feel secure and valued.
Ultimately, a comprehensive approach to workplace development and employee retention—one that encompasses recruitment, training, mentoring and incentivizing—will not only secure top talent but also foster a motivated, skilled and loyal workforce capable of driving the company towards long-term success.
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