Local Executives Have One Thing on Their Minds
I attended a CEO Roundtable this morning featuring a panel of business leaders talking about “The Top 10 Things Keeping the C-Suite Up at Night.” Hosted by talent acquisition firm The O’Connor Group, the event’s four panelists were:
- Brian Begley, CFA, Principal, PhiCap Advisors
- Jennifer Dempsey Fox, President, Bryn Mawr Trust Wealth Management
- Claude Knight, Managing Director of Cybersecurity at Ernst & Young
- Marcia O’Connor, CEO and Founder, The O’Connor Group
Despite the title of the roundtable, the conversation focused almost exclusively on the one issue that every leader can identify with – the talent shortage. According to Marcia, the three pain points she is hearing about from clients repeatedly are:
- Can’t find talent
- Can’t find talent fast enough
- When we do find talent, they “ghost” us
As dire as the challenge is, panelists were quick to offer solutions and ideas.
You must have a program for career development. (Marcia) Put in place a good onboarding program, 30-, 60- and 90-day check-ins, and consider quarterly evaluations. You need to have more than just a job to keep employees engaged.
Be open to looking at resumes differently. (Jen) We increasingly will be seeing resumes with many short stints on them; instead of discounting them immediately, realize that job-hopping among younger employees is the norm. You might overlook a great candidate if you judge too harshly or swiftly.
Communicate openly and often with employees. (Brian) “Everything good in life starts with being honest.” Open dialogue can help you identify why turnover might be high and what you can do to address it.
Panelists uniformly noted that culture is essential to attracting and retaining talent. But building culture during the pandemic has been a challenge; college grads who started their first jobs remotely have missed out on the tight bond that forms among “start groups.” As Claude observed, “Culture can’t occur if people aren’t together.”
Get creative in coaxing employees back to the office. (Claude) Because EY saved so much on their travel budget during COVID, they used some of the savings to help employees overcome barriers to returning to the office. EY offers stipends to employees that they can apply toward dog-walking services, gas, and new business clothing.
Invest in the small things that let employees know they are valued. (Marcia) Remember birthdays. Send cards, texts and even videos, letting employees know how much you appreciate them. And keep the door open for boomerangs. As painful as it is to lose a valued employee, let them know that you want to stay in touch and would welcome them back in the future.