Author: M3 Placement

We’re living in challenging times, both economically and socially. The effects of the pandemic have turned out to be more far-reaching and long-lasting than anyone anticipated. Geopolitical tensions like the war in Ukraine are having devastating repercussions. And the social unrest spurred by the overturning of Roe v Wade, widening racial inequities, and escalating political division are creating a highly volatile environment. 

In a disruptive world, it’s difficult for business leaders to stay focused on their “true north,” or even to stay certain about what that true north is. Sometimes you need a beacon to help guide the way. 

For me, one of the beacons that have helped me stay focused on my calling and grow as a leader, no matter how turbulent the world gets, is the concept of conscious capitalism. 

I became involved in the Conscious Capitalism network several years ago before the pandemic hit. Looking back, I can see it was a serendipitous decision because the Conscious Capitalism network proved an unwavering source of strength during those difficult early days and even now in these volatile times by forming a unique association of leaders from around the world called the Senior Leadership Network SLN.  Fellow members met every few weeks and challenged me to look deeper into my beliefs, gave me the energy to persevere, and re-energized me to focus my life’s work on impacting people’s lives.  Those leaders who span from Brazil to Mexico and across the US have become some of my most cherished professional friendships despite never having met in person.   

What Conscious Capitalism is All About 

Conscious capitalism is about operating businesses in ways that elevate humanity – a much-needed concept in today’s world. That may sound like a broad and lofty goal, but it’s abundantly evident that companies can and do make a positive impact on human lives and communities while still minding the bottom line.  

Companies that practice the tenets of conscious capitalism perform 10 times better than their peers. And when businesses operate profitably, the effects ripple across people’s lives in significant, meaningful, and tangible ways. As Whole Foods CEO John Mackey says in his book Conscious Capitalism (which I highly recommend!), people feel most fulfilled and happiest when their work aligns with their inner passions. Well-run, values-based businesses that allow people to achieve that alignment can create prosperity for their employees, their families, and the larger community.   

Becoming involved with the Conscious Capitalism network was a natural step in a journey that started when I was a young girl, watching how my father approached business. I think of him now as an “unconscious conscious capitalist,” and the principles he instilled in me ring true even more today than they did back then. 

My Journey Toward Conscious Capitalism 

Long before I joined a network of like-minded, caring people devoted to encouraging conscious capitalism, I was learning those principles by observing how my father led a successful family-owned telecommunications company. He was exceptionally committed to his employees, customers, vendor partners, and the community, often putting them first in his decisions. And he took the time to understand how his team was really feeling and how their families were really doing—going beyond the surface because he truly cared. 

What I learned about conscious capitalism in those early days was this: Putting people first and achieving profitability aren’t mutually exclusive. In fact, a focus on people is one of the drivers of the most successful, profitable companies. At the same time, when companies hire people who align with the organization’s higher purpose and the individual’s inner passions, they attract people who are committed to the business’s mission and more likely to stay.   

When I reflect on the experience of learning about conscious capitalism, I can see that my introduction to this leadership philosophy was a case of perfect timing. I had attended a few CEO Summits hosted by the Conscious Capitalism National organization and met some remarkable business leaders who were living and breathing this idea. Their energy and passion was contagious. Then when COVID-19 hit, the group accelerated its efforts to build out the network so it could provide much-needed support for business leaders who were struggling with the new normal. Conscious Capitalism’s response was a game-changing moment for me personally and professionally. 

As the world literally shut down, I drew strength, inspiration, and energy from other business leaders in the network. The Conscious Capitalism community became a virtual gathering place for like-minded leaders to support each other and a place where everyone was comfortable acknowledging that they felt vulnerable and uncertain. We leaned into each professionally and personally, even though the sudden and tragic loss of our group chairperson who inspired us from day one. 

It wasn’t until things calmed down a bit and I was able to look back that I realized: that growing up with an unconscious conscious leader and being introduced to the Conscious Capitalism community combined to make a powerful impact on me as the leader of my own company and in the work that M3 Placement & Partnership does for our clients.  

How Conscious Capitalism Impacts My Work 

As organizations were locking down in the early pandemic days, placing employees on furloughs or letting them go, my first instinct was, “How do we lean in and impact people’s lives and help organizations have hope?” As Mackey highlights in his book, sometimes you must take risks to follow your true north.  

For me, that meant figuring out how to be a true servant leader at a time when organizations and their employee desperately needed more support and direction. I started by creating content on how to interview candidates and onboard new hires virtually, to help organizations pivot fast. From there, it evolved to helping companies find, articulate, and fulfill their higher purpose (a key tenet of conscious capitalism) and attract people who fully align with it.  

All of that work tied back to my own higher purpose: impacting lives. By partnering with companies to create cultures that demonstrate and foster high emotional intelligence—where employees can align their personal beliefs and inner passions with the work they do every day—my team and I have been able to help organizations and the people they employ to become more fulfilled and successful.    

What Conscious Capitalism Looks Like in Action 

When I launched M3, I modeled my father’s unconscious embracing of this concept almost instinctively. For example, when it came time to develop my company’s mission, it was quite simple; we were formed to change people’s lives. I recognized that I couldn’t help organizations attract and retain the best talent—and help them create a culture that encourages employees to stay—unless I led a conscious business myself.   

The concept of conscious capitalism took roots in me at a young age, informally, but over time I learned about this movement in a more formal way. By becoming involved in the Conscious Capitalism network, I discovered that the principles at its core—conscious leadership, higher purpose, stakeholder orientation, and conscious culture—are a direct reflection of what my father modeled while leading a major company.  

What does that look like daily? 

For a company like M3, it means:  

• Choosing to partner with organizations that are as committed to their employees’ well-being as they are to the bottom line 
• Being thoughtful and intentional in hiring employees who share our values and our passion for changing lives   
• Making sure our company mission, values, and higher purpose always lead our decisions—even the tough ones! 
• Operating with authenticity in all our interactions 
• Taking great care of our clients holistically—both the companies that trust us to find and retain top talent and the talent we help find the right fit for their professional and personal goals 
• Helping companies from the inside out—which includes ensuring they’re not just recruiting new staff, but creating a culture that intrinsically encourages them to stay  

In the 10 years since I founded M3 Placement & Partnership, I’ve learned that if you put people first and always do the right thing, consistent with your mission and values, you’re bound to succeed at every level. That’s what conscious capitalism really comes down to—creating a culture that benefits the organization as a whole and every individual that makes up its family. It’s helping people go home from their workday as better partners, parents, friends, and community members. 

I’m eager to keep learning and growing with the support of other leaders in the Conscious Capitalism community and would love to see us form a Capital Region chapter one day! 

Mary Malone McCarthy is CEO of M3 Placement & Partnership.

“It’s the new normal.” 

“The only constant is change.” 

We hear these phrases so often that it can be tempting to turn a deaf ear. Perhaps they’ve begun to sound trite because we know change is part of the ebbs and flows of any business and any economy. We don’t need a reminder.

Or do we?

Over the past two years, HR professionals have been hit with the kind of sea change that can only be described as transformative. From new ways of recruiting and retaining talent in an unprecedented labor market, to the complexities of return-to-work policies and the intricacies of setting pay bands for a remote workforce, what we do today sometimes bears little resemblance to what we did yesterday.

Being more agile and nimble forces HR professionals to act differently. When really, we need to think differently.

Digging Below the Surface

The exit interview is a prime example. HR professionals have always found value in understanding why a key employee is leaving and applying those learnings to improve the culture and reduce turnover. Now, more HR teams are conducting “stay interviews” aimed at getting ahead of retention problems. 

The stay interview is a great way to act differently in this new environment. But to be effective, it demands thinking differently about who and how we engage in these conversations. That means not making assumptions about who is/isn’t a flight risk (which has blindsided some companies), avoiding surface-level questions that don’t get at the heart of issues, going beyond surveys that have limited utility, and showing authenticity in asking how someone is truly doing. 

My father was CEO of a family-owned telecom company, and he instinctively conducted his own version of the stay interview before it became vogue. He was known for cutting through the superficial, digging deep to learn what was really on the minds of employees. That kind of thinking differentiates companies that stagnate from those that thrive, even in a challenging labor market.

Modeling the Behavior

Most successful companies have leadership development programs that build the competencies managers need to motivate, coach, and lead teams, focusing on skills like communication, influence, and resilience.

But in a volatile world, what those leaders may need most is a framework and a model for how to build greater intimacy within teams—equipping them to engage in more intentional conversations, understand employee pain points and goals, spot brewing problems, and improve the employee’s experience and the company’s retention rate. 

It may sound nuanced, but it’s a very different way of thinking about leadership development. And it demands that the C-suite is able and willing to model the behaviors themselves, showcasing how it’s done so managers can apply the concept. 

Balancing Competing Priorities

You need to get more employees in the front door. But you can’t risk losing just as many out the back door. However, that’s a very possibility in the current climate.

Balancing these competing priorities takes a more thoughtful approach. If one segment of your HR team is busily creating compelling recruitment materials and rewriting recruitment ads—but no one is working on new retention strategies—you’ll end up running in place.

Retention strategies need to go beyond the obvious, especially given that what employees value today is much different from what they valued yesterday. For example, I found that mental wellness was a major area of interest for my own team, so I partnered with a wellness company to add that benefit to our package. They’re taking full advantage of this opportunity and sharing how grateful they are.  

By thinking differently about how to balance the growing number of competing priorities your HR organization faces in these volatile times, you’ll make better progress on multiple fronts.   

Looking Around the Corner

None of us has a crystal ball, but that doesn’t mean we can’t pay close attention to trends, anticipate change, and prepare for it proactively. 

The most adaptable HR leaders think differently about change—looking around the corner to see what may be coming and embracing it as an opportunity. The shift to a remote workforce is a great example. While some organizations rigidly viewed it as a temporary, necessary move, forward-thinking companies seized on the chance to offer compensation packages that are more competitive for out-of-market candidates. 

When you think two steps ahead and welcome the change you see coming, it opens worlds of possibilities. 

Practicing Self-Care

HR professionals are operating in a pressure-cooker environment today. While it’s important to maintain high performance standards, it’s just as vital to recognize that perfection isn’t realistic when the floor is constantly shifting beneath your feet. 

What helps? Identifying what’s in your control, focusing your energies where they will yield the greatest ROI, embracing that the work you’re doing can impact the entire organization (without letting that fact overwhelm you), and practicing self-care within your HR team by celebrating small wins and picking each other up.     

Building healthier, more caring organizations is within reach, even in these fast-changing times. It just requires that we all think a little differently. 

Mary Malone McCarthy is CEO of M3 Placement & Partnership.

Our CEO, Mary Malone McCarthy, was asked to write an article for Chief Executive, an online Chief Executive Group community. You can find the original article here.

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Attracting and retaining the best talent has never been easy. Today, it’s a more formidable challenge as candidates and employees bring different priorities and expectations to the table.

What does that mean for you as a CEO?

The ability to attract and retain the talent that’s crucial to success starts at the top. As a CEO, you can make a powerful impact on your organization’s recruitment and retention at a time when it’s more vital than ever.

How CEOs Impact Talent

Just like the pandemic altered employee expectations in ways that may never revert, this shared experience changed how CEOs view their role. Facing a virus that knew no boundaries, many leaders paused, looked inward, and considered how they could be more thoughtful, caring stewards of their workforce.

Staying in tune with the needs and expectations of your current and prospective employees and creating a supportive culture isn’t just altruistic; it’s good business. In a Gallup report, companies that scored highest on employee engagement enjoyed 21 percent higher productivity than those with the lowest engagement scores.

As a CEO, you set the tone for your organization—and that sets the foundation for recruiting and retaining the talent you need to succeed. So how can you ensure your company stands out from the crowd when attracting and retaining talent? These five strategies provide a great start.

1. Make Sure Your Mission Is Clear, Relatable, and Visible

Many companies spend significant time and effort to develop their mission, values and vision. But fewer organizations ensure those elements come to life in everything they do, including hiring and retention. Today’s employees and job seekers want to work for companies that match their values and make a positive impact on customers and communities. That means your mission, vision and values need to connect with them—clearly and powerfully.

Be sure your company shares vivid, relatable stories about employees who are thriving, passionate and living your mission, so candidates can picture themselves working there. Challenge your HR team to ensure every recruitment touchpoint and document brings to life the “why” of your organization.

2. Demonstrate You’re an Authentic, Caring Leader

My father was the CEO of a company with 150 employees. He cared for each like family, and that was reflected in the longevity of great talent and their pride in taking care of customers. He had two simple beliefs: “Do a little more a little better” and “The little things are the big things.” Any time an employee experienced a high or a low in life, he wrote a personal note to show he cared. Even if your company is too large for that approach, there are ways a CEO can demonstrate care and authenticity with employees and with candidates for key positions.

Walking the production floor, taking people to lunch and attending roundtables are a few of the many ways to get a pulse on your current and future workforce. But it means going beyond a quick wave and a generic “hello.” Ask pointed questions, like “How are you really doing?” and “What keeps you up at night?” Open yourself to honest answers, then be prepared to respond and follow up.

3. Challenge Leaders to Think Differently

Senior leaders and department managers understand they’re responsible to manage P&Ls and achieve metrics of performance. But do they recognize they’re also responsible to develop a culture that attracts and retains the best and brightest?

Within the overall company culture, mini cultures exist in departments and regions, each impacted by their respective leaders. And they can make or break your ability to recruit and keep the talent it takes to achieve your goals. Be sure every leader understands their role in creating an environment people want to join and stay with. Ask questions like, “What challenges does your group face at work and at home?” If you get vague answers or pushback, it means your team has work to do to become the kind of leaders that people want to work for.

4. Invest in a Strategic HR Leader

The role of human resources has changed dramatically—but has your company kept up? Today, the best HR leader serves as a trusted advisor to the CEO and a key member of the leadership team. The right person will get a pulse on your workforce’s needs, pain points and expectations; share the good, the bad and the ugly; and help turn your vision into reality by ensuring the company hires, retains and engages the best talent.

If your size and budget make it prohibitive to hire a full-time C-level HR leader, consider hiring a Fractional Chief Human Resources Officer. A fractional approach to C-suite positions can be an effective way to secure the experience and capabilities you need while only paying for a “slice” of a strategic resource.

5. Rethink Employee Benefits

Organizations that view employee benefits as a vanilla tactic rather than a strategic advantage are falling behind in the talent race. Yesterday’s employees and candidates looked for a benefits package that checked the main boxes. Today, an appealing package meets employees where they are.

If a portion of your workforce is hourly-wage workers from underserved communities, consider offering a daycare allowance or free diapers (as one of our clients does). After two years of emotional fatigue from the continued ups and downs of the pandemic, mental wellness services may be a much-appreciated addition to your benefits. The more in tune you are with employees, the better you can gauge which non-traditional benefits they need and value.

As a chief executive, what you say and do has a ripple effect across your organization, even when it comes to talent recruitment and retention. By setting a strong foundation for attracting and retaining the talent that drives success, you’ll build a workforce that’s more productive and satisfied at work, better partners and parents at home, and better contributors in the community.

Let us help you build a successful talent pool program, one that works as well for you as it does for those who join it. Contact M3 Placement and Partnership today for your free consultation.

Today’s recruiting landscape Syracuse, Utica, Albany and everyone in between is more competitive than it has been in recent years. While H.R. professionals continue to work diligently to fill open positions, many are feeling the pressure of the current labor shortage, all while their hiring demands have accelerated following pandemic-induced lockdowns and malaise.

To help fill the gaps between the number of qualified candidates and their company’s open job requisitions, many H.R. professionals are looking to expand their talent pools, developing and maintaining long-term relationships with potential future employees, consultants, and contractors who they can tap when needed to keep the business fully staffed despite fluctuating market demands.

Creating and maintaining a successful talent pool requires time, attention, and the right engagement strategies to keep participants interested. Here are a few tips to follow to build a successful program:

Consider the Needs of Your Digitally Transformed Organization

According to commentary published by Personio, “A talent pool is a collection of potential candidates that help an organization grow and achieve its long-term goals.” From a local perspective, understanding the talent pool in the Capital Region maintaining a strong database of talent and leveraging it helps ensure you have potential top-talent on hand at all times.

The value of the talent pool continues to increase as workforce structures have become more distributed and the trend toward remote, work-from-home models has opened up employment and consulting opportunities across geographies anywhere in the country or even worldwide.

This is welcome news for busy New York H.R. professionals in the wake of the pandemic, reports Gartner. “The COVID-19 pandemic has accelerated digital transformation initiatives for most organizations. Consequently, organizations have increasing needs for digital talent and will face intensified competition for such talent.”

Maintaining a database of suitable contacts for the many new positions involved in your company’s digital transformation initiatives is a best practice that can help you provide internal teams with the resources they need to drive innovation and bring new products to market in today’s digitally transformed economy.

Organize Your Talent Pool by Segments

Industry experts recommend against lumping “all your talent into a single category,” This is especially important as your talent pool grows in size and complexity. Attributes such as work experience, education and training, relation to company, and a candidate’s aspirations are all categories that can be segmented, helping streamline your internal talent searches as positions open up. Categorizing regionally can also help identify both the right talent and understand how they might view your company and the opportunity.

Consider also your H.R. department’s – and other stakeholders’ – experiences with talent pool candidates, especially those who have worked for the company before and those referred by employees, customers, or others associated with your firm. Those who already have experience working with your company often bring extra value to consulting and contractor roles.

Keep Candidates Informed and Engaged

Once candidates join your talent pool, make sure to communicate with them effectively and often. As a best practice, experts recommend going beyond simply distributing job postings to also sending out “rich and immersive content [via] email newsletters, social media updates, written content, and videos or imagery on good news stories associated with your organization.” Highlighting successful employees within your organization is another best practice that tells talent pool candidates you value your employees and recognize their contributions.

Ultimately, regular touchpoints with talent pool participants will keep your organization front and center in their minds and help deepen both their knowledge of your organization and affinity for your mission, values, and culture.

Cultivate Diversity

Embracing diversity is good for your hiring practices – and good for business. In fact, Glassdoor data published by LinkedIn reveals that 67% of job seekers “said that a diverse workforce is an important factor when evaluating companies and job offers.” A recent Boston Consulting Group (BCG) study identified diversity as a key driver of innovation, finding that “diverse teams produce 19% more revenue.”

Increasingly, companies are focused on developing diverse workforces, implementing diversity, equity, and inclusion policies and initiatives to foster inclusiveness within the workplace and ensure that the voices of all individual employees are heard. One of the best ways to cultivate diversity within your organization is to develop a diverse talent pool that effectively reflects all your company stakeholders, including customers, suppliers, and the broader communities your organization serves.

Seek Outside Guidance

With all the many new responsibilities shouldered by your H.R. team today, it may make sense to bring in an outside firm to grow, maintain, and engage with your talent pool. M3 Placement and Partnership is there to help.

Located right here in Albany, but connected to top talent pools throughout the country, our experienced recruiters are there for you every step of the way, providing the comprehensive services you need to fill open requisitions and transform your workforce. Our experienced H.R. professionals can help you construct a talent pool program that attracts top professionals across skillsets and disciplines, and that grows this valuable resource with proven strategies and outreach initiatives that work.

M3’s vast network of established contacts is yours to tap as well, further helping your team build the kind of networks that deliver results and move businesses forward. To ensure your success, we fully immerse ourselves in your business, providing expert coaching while helping you implement best practices and long-term process improvements to take your talent pool program to the next level.

Let us help you build a successful talent pool program, one that works as well for you as it does for those who join it. Contact M3 Placement and Partnership today for your free consultation.

In a post-pandemic economy, the way you recruit new employees has likely changed dramatically. Not only have the expectations of job candidates shifted in the age of virtual teams and work-from-home models, but labor shortages have also impacted the recruiting landscape, making it more difficult today to attract top talent in the greater Albany area than it has been in recent years. 

According to statistics cited by New York’s Department of Labor, the Capital Region’s unemployment rate fell from 4.8% in 2021 to 2.7% in 2022.  A recent internet search showed more than 22,000 openings in Albany and surrounding areas. Couple this with CNBC research showing that 73% of job seekers are only “passively” looking for a job and the challenge to hire top talent is clear.

To engage the right audience among job seekers and turn the most qualified job candidates into enthusiastic “hot prospects,” savvy H.R. managers are employing strategies that have traditionally been associated with their marketing counterparts. This approach is both gaining traction industry-wide and paying off for businesses.

Consider Glassdoor research published by People Managing People which shows that 86% of H.R. professionals surveyed now describe their recruiting efforts as “becoming more like marketing.” Research cited by Small Biz Genius reveals that, for more than 80% of H.R. leaders, employer branding has a “significant impact” on their ability to attract talent. 

Like any successful marketing campaign, creating an employer brand that resonates with job candidates in the Capital Region and speaks to their values is both an art and science. Here are a few tips to help make this strategy work for you:

Create Candidate Personas

Commentary published in The Ascent emphasizes the importance of understanding – and documenting – exactly who the ideal candidate is for any given position, and that involves research.

Similar to the buyer personas typically developed to drive marketing campaigns, a candidate persona is “a fictitious profile that represents your ideal job candidate for a specific role. It includes their characteristics, skills, qualifications, educational background, where they’re from, interests, etc.,” the website notes. Personas should be comprehensive – are they a New York-native or new to the Albany area? Where do they get their news and information? Who influences them both nationally and in the local Capital Region? Do they live in Albany, Schenectady, Troy or one of the area suburbs? Ultimately, developing candidate personas can help clarify what your organization needs an individual to bring to a position – and the kinds of messaging and strategies your H.R. department needs to leverage to attract the right individual to the job.

Maintain a Best-in-Class Digital Presence

We all recognize the power of social media for marketing outreach, and social media should play a major role in your recruiting efforts as well. According to Zippia, 79% of job seekers use social media when conducting their job searches, which is why maintaining an updated, active presence across social media sites is a must – including connecting with candidates that reach out to you and advertising new positions as they become available. And with some 46 million students and recent graduates active on LinkedIn,” according to Zippia, leveraging this popular social media platform is essential to your recruiting efforts. You should also leverage industry-specific and local LinkedIn groups to which your ideal candidate might be a member.

Remember, too, that once candidates respond to one of your online job postings, their next stop in the job hunt is often to the career landing page on your website. So, make sure your open positions are easy to search and your company’s brand is clearly defined there as well, including your organization’s mission, values, and any other attributes that make your company stand out and communicate to candidates why your workplace is a great place to work. 

Follow-Up with Candidates

The most successful marketing campaigns often follow a layered approach in which prospects receive multiple communications across various channels. Your recruiting efforts should employ a similar strategy. According to experts, candidates can quickly lose interest in a position with your firm if they do not hear from you fairly soon after being interviewed. A simple thankyou note or follow-up call will help keep candidates engaged and the conversation going – and, as with any marketing initiative, the more personalized your follow-up communication is for the position and candidate at hand, the better. 

Turn Employees into Brand Champions

Like sales teams following up on qualified leads, enlisting employees in your candidate search can help you bring on board the very people they prefer to work with. Often, Albany-area employees prove to be your best source of vetted applicants and your best brand ambassadors as well. 

Be sure to reward their efforts by offering attractive incentives. Cash bonuses work well, with the industry’s median award for a successful referral today around $1,000, notes SHRM. The site recommends offering the same referral bonus regardless of the level of the position being filled. This sends a message to employees they are all equally valuable, regardless of where they are on their career path, promoting good will organization-wide and further encouraging their help in the recruiting process.

Bring in the Experts

With the scope and complexity of H.R. responsibilities continuing to expand, many organizations today can benefit from outside assistance with their recruiting efforts. Outsourcing recruiting can help your organization gain the added networking outreach needed while boosting your brand equity in the marketplace as well. 

As with any other major H.R. outsourcing initiative, selecting the right outsourcing partner is essential to successful recruiting. Look for an organization that brings a depth of recruitment experience and both Capital Region knowledge coupled with industry-specific experience to the task. This will ensure that your efforts are served with the skills and expertise needed, and that your contracted recruiters can “hit the ground running” to successfully fill positions as quickly as possible. 

The right Albany-based firm will conduct strategic analyses and planning of your internal goals for the position – and of the market landscape as well, to ensure that the candidates they bring to the table align with your brand mission, values, and objectives. 

Also remember the importance of reputation. Firms with strong networks of contacts already established both within and outside your industry will be best positioned to help you connect with and vet a variety of well qualified candidates and ultimately attract the best talent for the position and your organization overall.

M3 Placement and Partnership Can Help

Located right here in Albany, but connected to top talent pools throughout the country, our experienced recruiters are there for you every step of the way, providing the comprehensive services you need to fill open requisitions and transform your workforce. M3’s vast network of established contacts helps you cast a wide net when seeking top talent at all levels, and we are available to step in whether just a single key new hire needs to be secured – or entire teams of new professionals. 

To ensure your success, we fully immerse ourselves in your business – providing coaching, offering best practices, and recommending long-term process improvements, from advisory services and multi-channel strategies to tools and technology recommendations that will help boost your hiring success for years to come.

See how outsourcing your recruitment process to M3 Placement and Partnership can help your brand grow and thrive even in the most challenging environments. Contact us to schedule a consultation today.

According to Goldman Sachs data published by Business Insider, the U.S. is in the middle of the biggest labor shortage since World War II. In fact, at least 3.6 million Americans have quit their jobs each month since April 2021.

However, the U.S. Chamber of Commerce reports another significant trend, fast emerging since November 2021. Described by the Chamber as “The Great Reshuffle,” the trend shows that workers who are quitting their jobs are quickly getting rehired elsewhere. All of which suggests that many employers are failing to meet the needs of their existing workers and losing them to other, more attractive opportunities as a result.

So, how can organizations retain key employees so vitally important to their future growth, innovation, and success?

As with anything else, information is powerful, which is why savvy H.R. departments routinely conduct Stay Interviews with employees – touchpoints and conversations to help them understand what individuals throughout their organizations want, need, and expect from the workplace.  With this information, managers and H.R. teams can work together to construct a culture and environment in ways that keep employees engaged, productive, and motivated to stay.

What Is a Stay Interview?

Glassdoor describes a Stay Interview as “a management tool designed to promote better employee retention.” When conducted effectively, a Stay Interview “helps management find out the things employees love about their job that make them continue to do it. The stay interview also finds out work-related factors that may influence the employee to take another job.” 

Asking the Right Questions

Indeed’s top 10 questions employers should ask during Stay Interviews cover topics ranging from what employees look forward to at work, what they don’t, and how the company can improve the employee experience overall.  Indeed also advises employers to specifically probe whether good work is recognized in meaningful ways, feedback is delivered in a timely and effective manner, company flexibility meets an employee’s need for work/life balance, and whether the employee clearly sees future opportunities for growth and advancement.

In addition to informing management and H.R. teams on the state of employee job satisfaction, Stay Interviews serve as points of engagement that tell employees their employer cares about what they think.

Given today’s hybrid, distributed workforce, these touchpoints have never been more important. The isolation that comes with new work-from-home business models has disrupted the connectedness that many employees had previously felt toward their jobs and colleagues when they had reported to the office daily. As advocated by Forbes Magazine, Stay Interviews can help companies address this dynamic by reinforcing ties with remote employees. “It’s easy to lose touch with employees when you aren’t physically seeing them every day, and in turn, employees can feel that their managers are out of touch,” the article states.

Introducing the Concept

However, when introducing Stay Interviews to employees, it is important to approach the initiative with sensitivity. Employees may feel a certain amount of apprehension about commenting on the quality of your work culture and may even perceive Stay Interviews as a practice designed to weed out unhappy employees. 

So, be sure to communicate their purpose well and generate buy-in for the process organization-wide. The Stay Interview should be met by employees confidently and comfortably, so they can provide you with meaningful feedback you can use to improve your culture and workplace on their behalf.

Interviewing a broad selection of employees at different levels within the firm and at different perceived levels of engagement is a best practice that helps diffuse any concerns employees may have in sharing their thoughts. Be sure to also follow up with employees after a Stay Interview to let them know what you learned and any actions the company intends to take based on their recommendations.

Seeking Professional Guidance

Employee relations can be tricky and must always be handled with care and expertise. To make the most of Stay Interviews and other delicate H.R. practices, the help of a seasoned professional outsourcing firm can prove invaluable. 

Look for a partnering firm with a vast toolkit of resources and a proven track record of helping organizations put in place workplace policies and practices that speak to employee values and aspirations. The firm you select should offer strategic consulting and organizational assessment services that are both effective for the firm and rewarding for the employees involved. 

M3 Placement and Partnership can help. We bring the depth of experience and expertise needed to help you manage your Stay Interview campaign from start to finish and then translate the results into actionable insights. 

Ultimately, your employees are the bedrock of your future, and their long-term commitment to your firm is essential to your success. Providing them with a sense of security, optimism, and well-being is a sound business practice that will inspire their loyalty and keep them engaged for years to come.

Schedule your free consultation now.