Finding and keeping top performers for your organization can be tough. Making sure you hire the best person for the job is now more important than ever to help minimize turnover costs and boost organizational success. Here are some specific tactics that you can use to gain and retain top performers.
Step 1: Hiring the right people
1. Offer a fair salary that works. What’s the better scenario: Hire someone for $40,000 a year who will give you a 150% return on investment (ROI), or for $60,000 who will give you a 300% ROI? Take a look at an applicant’s past to see if they can prove that they’ve delivered top results. If they can, and if they will greatly contribute to your organization’s success, it can be worth paying a little more. Keep in mind that compensation is an investment.
Understanding how your organization’s compensation packages compare with other organizations is also important. Check out the 2013 Canadian Nonprofit Sector Salary & Benefits Report to find out more. Remember, top performers deliver great results. If they aren’t compensated fairly for these results, they very well may take a better offer elsewhere, either during the hiring process or after you have hired and trained them.
2. Make the application process transparent. People looking for work will typically take a good offer instead of waiting around indefinitely for someone to get back to them. If your job application process is dragging on without an end in sight, your applicants may go elsewhere. Transparent organizations will tell you up front that they have a hiring process with multiple interviews. Take that extra step to keep your applicants informed of the process and avoid them going elsewhere. The hiring process reflects on your organization as a whole. If you give an applicant a bad impression, it is more likely they will have negative things to say about your organization.
3. Think about the whole compensation package. You may not be able to offer a high salary, but you can still be creative when it comes to other benefits. Other options can include extra vacation and flexible working hours. Simple things like free coffee or longer lunch breaks may sway a top performer into going your way as it shows you are committed to the staff’s happiness. For more ideas on creative compensation, check out Beyond the Dollar: How non-financial incentives help retain staff.
4. Make sure there’s a good fit with organizational culture. When bringing a new person into your nonprofit, it’s vitally important to ensure they will quickly fit in with your organizational culture. Are they used to working alone or in a team? Do they get along well with other people? Do they share the same values as the rest of your team? A good tip for finding someone who will fit in easily with your current staff is to have multiple people in the organization interview the applicant.
Step 2: Keeping the right people
1. Keep an eye on compensation to ensure it remains competitive. Always keep an eye on what other organizations are paying staff in similar roles. Remember, negotiating compensation doesn’t end once the hiring process is over. Investing in your top performers is a long-term retention strategy – if you ignore the subject your employees may go looking elsewhere.
2. Offer training opportunities. With a little creativity, even the smallest nonprofit can offer different training opportunities. Whether it is encouraging conference attendance, paying for courses, negotiating a flexible schedule so an employee can go back to school or offering lunch ‘n learn sessions where employees can learn from one another, investing in professional development is worth the effort. Not only does it show that you care about your staff, but it can also build a well educated team better able to contribute to your organization’s success.
3. Be clear about expectations. All staff should have have a clear understanding of what is required of them. They should also have a good idea of what they would need to do to get a raise or a promotion. Most nonprofit professionals will want to know what kind of career path is available within your organization. Find ways to support a top performer’s career goals and, where appropriate, consider internal candidates for promotions.
4. Schedule regular performance reviews. While once a year is the standard for performance reviews, I believe more frequent reviews can be more helpful to your staff. If you can streamline the process so it is not too labour intensive for management, a performance review every six months can be a win-win for both parties. Performance reviews are a time to check in about job performance, expectations and career goals and a year can be a long time in between these check ins. Keep in mind that offering feedback does not always have to occur in a more structured performance review. Informal check-ins are important and should be done regularly to promote good communication.
At the end of the day, it’s important to make your organization a place where top performers are welcomed and encouraged to stay. Staff turnover is always a risk, but planning ahead with some of these tactics will help minimize your risk of losing a top performer. Good luck!
What have you done to bring in top performers and keep your staff happy?
Edwin Chan is an avid online marketer and writer at Toronto web design and online marketing firm 9th sphere. He strongly believes in finding the right fit between a candidate and a job.
