PSMJ Article: Strong Firms Look to Leadership Retention
From the Archives:
Written by: Donna Gaines for an original piece with PSMJ Resources, Inc.
By the year 2010, the available labor pool will reach 158 million people, but employment needs will rise to 167 million people—that’s a shortfall of nine million people! Design firms are already facing a shortage of leadership, and our labor pool is extremely sparse. As firms find it harder to recruit new management, many are focusing on leadership retention.
What is leadership retention?
Leadership retention is a formalized system for a company to retain and grow leaders. Using only the components of a plan that are not logically pulled together will increase the risk of falling short of retention goals. To institute a strong retention program, you must:
❑ Develop a formalized college recruiting program (even during “lean” years).
❑ Promote from within your own company.
❑ Develop strong assessment program for incoming talent.
❑ Implement continued development and education programs.
❑ Screen for values (honesty, integrity, ethics and standards) which match your firm’s culture and beliefs.
❑ Institute a mentoring program.
❑ Maintain scheduled performance reviews.
PSMJ thanks Donna Gaines of Gaines International for contributing this article. Gaines International provides executive and board-level searches and change management consulting for A/E/C firms.
To download the article click here: Strong Firms Look to Leaderhip Retention