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How To Retain Top Executive Talent

June 20, 2024

Photo by Redd F / Unsplash

Here at Bolster, we work hard to help you discover the right executive talent for your team. We talk a lot about how to find and hire impactful leaders, but we’re just as interested in your organization’s success post-hire. 

Once you find the right talent, you don’t want to lose them, which is why executive talent retention should be a key component of your strategy. Today, we’re sharing valuable employee retention tips from guests on The Daily Bolster podcast. 

Create a culture where people can thrive

When you create a culture that allows people to be their best, they will perform better, grow faster, and be more invested in the company. 

Be clear about your mission

If your organization is mission-driven, you have an advantage when it comes to employee retention. Leaders who resonate with the work they’re doing are often more motivated and committed. 

Allow employees to move within the organization

If you can cultivate the flexibility to allow employees to move around within your organization, you’re less likely to lose them when they get the itch to make a change. Your employees will benefit from the ability to shift their careers or refresh their perspectives, and the company wins, too, retaining top talent and avoiding some of the cost associated with training external hires. 

Create opportunities for connection

With so many companies operating remotely, team cohesion is more important now than ever. If you’re not working in person, it takes a bit more effort to build connections, but that work is a vital factor in talent retention. 

Grant permission to fail

When you give your team permission to take educated risks and fail, you cultivate trust and create opportunities for growth, learning, and innovation. Leaders who are confident in their ability to move through failure and who know it won’t jeopardize their position are likely to be more successful and committed. 

Leave the door open

People gravitate towards leaders who support them. Encourage your team to share their aspirations and help build them up where you can, and when top talent leaves, leave the door open for their return. Play the long game and ensure your leaders know you value them as individuals. 

Want to keep up with The Daily Bolster? We’re on a break, but you can sign up to get notified when new episodes drop, or find our first three seasons wherever you get your podcasts.

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