5 Smart Ways to Retain Talent after the "Great Recession"
By Steve Seeman, Senior Vice President, Human Resources, Makovsky + Company
In 2009, as our industry faced the “Great Recession,” we were all challenged to protect the bottom line; for most companies, all else was secondary. Now, as the tide has turned, PR agencies across the country are wondering how to remain competitive by retaining their talent. Is money the solution? Well, compensation is part of the equation, but not the quintessential element. After all, there is always someone willing to pay more for your employees.
No, keeping your key employees happy and loyal is not as simple as paying well. Obviously, you have to offer competitive salary and incentives, but retaining top talent is a multi-pronged effort which requires an investment not only of capital but, more importantly, of time, energy, attention and loyalty.
Here are five ways to keep your employees happy, loyal and productive for the long term:
1. Provide new challenges, new responsibilities and growth opportunities. Contrary to conventional wisdom, industry studies and Makovsky + Company’s own annual employee survey consistently demonstrate – regardless of economic climate – that employees leave jobs not for more money, but for new challenges and responsibilities.
At Makovsky, we have made it a practice to give our people varied responsibilities and will move some of younger staffers – the best and brightest – to different practice areas to round out their experience as well as to provide them with new opportunities for personal growth. Thanks to “A Makovsky Professional’s Pathway to Growth,” a book which details growth goals for advancing to every level in the agency, we can easily focus on challenging our professionals to keep moving forward.
2. Recognize achievements. Jon Katzenbach, a noted consultant and former Makovsky client, has written extensively about the power of employee pride. He argues that employee pride is the distinguishing trait of enterprises that consistently outperform their competition. So central is pride that Katzenbach believes it is a more important motivational force than money.
Recognition of employee achievements need not mean huge cash prizes. For example, at Makovsky, our long-running “We Achieve” peer recognition program empowers every employee to reward their colleagues who best embody the spirit of our firm’s core values with cards acknowledging their accomplishments. Our “Mak Awards” honor the firm’s finest client campaigns in a hotly contested annual contest judged by luminaries in the corporate communications world. Our “Hot Award” casts the spotlight on one staff member who has risen to the challenge and performed “above and beyond” in the past quarter. While all these programs are accompanied by cash awards, the pride one feels in being called out for his or her achievements is immeasurable – and not easily forgotten.
3. Educate, educate, educate! There is no denying that the world around us is changing rapidly, and not just in the world of public relations. Professionals at every level should possess knowledge of important business and societal trends, along with the latest practical techniques in public relations, in order to better serve as valued counselors to clients. At Makovsky’s monthly staff meetings, we invite noted individuals to discuss matters that shape our daily lives and impact the world of communications. Some guest speakers are communications leaders; others are luminaries in their respective fields.
In addition, we also offer Mak University, a monthly education program open to younger staff members. The sessions are taught by senior members of the firm as well as outside instructors and cover every possible topic relevant to practitioners, be it media relations, social media or presentation training.
4. Listen and respond – quickly. During the economic crisis, employees were naturally concerned about their futures as word spread of cuts in our industry. Such times called for leadership, transparency and responsiveness, but those qualities should not fade away in better times. Keep your employees informed as much as possible (and in timely fashion) and invite them to weigh in with their suggestions. Of course, you must then pay close attention to their feedback; implementing changes based on employee input is a great way to show that you are really listening, and every voice is heard.
As noted above, we survey our employees annually to determine ways in which we can improve our working environment and culture. Their suggestions are taken seriously and have effected significant changes over the years.
5. Respect the work/life balance. Advances in computer technology have made telecommuting a reality and Makovsky + Company was among the first public relations firms to recognize its value in retaining top talent. We recognize that peoples’ lives change and that flexible hours and telecommuting make it possible for our firm to retain employees whose spouses may have received job offers that require them to relocate. In addition, we encourage our employees to become involved in volunteer activities in the belief that such activities enrich their lives as well as those around them, making them even more productive employees in the workplace.
Yes, the PR industry is synonymous with long hours, and as long as our clients demand excellence, that will not change. However, allowing employees to manage their workload while also enjoying family, friends, hobbies and philanthropy will create a balance that will ultimately breed loyalty.
“Always treat your employees exactly as you want them to treat your best customers,” espoused Stephen R. Covey. The famous author of The 7 Habits of Highly Effective People could have been thinking about the public relations industry when he wrote that. In fact, our firm’s credo includes the line, “We are each other’s client.” As professional services firms, we are nothing without our people.
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Steve Seeman is Senior Vice President, Human Resources at Makovsky + Company. Steve has 20 years experience in human resources within the public relations industry, specializing in recruitment and retention, employee relations, professional development and performance management. He recently won the 2010 American Business Award for “Human Resources Executive of the Year.”
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