A CEO’s responsibilities are cumbersome in any industry, but especially in the volatile environment of plastics.  Consistently talent acquisition and retention make the top 3 concerns of Plastic Executives and company Shareholders.  CEO’s are aware of the tight market for talent going into 2019, but with many companies having too many fires to put out, often the topic rarely gets addressed with viable solutions.  CEO’s need a management team that they can rely on to execute the company’s vision and mission. 

Before I get started I should note that companies who lack vision, values/culture, metrics and strategy are often the victims of the “revolving door” when it comes to attracting and keeping their leadership team.  Often this is because there is no foreseeable game-plan for talent coming on-board.  They are not sure where they “fit in” with the company.  A good example of this concept can be found in the sports world where recently Kyle Van Noy was a guest on “Pardon My Take” podcast.  At 45:20 into the recording he had this to say about the Patriots compared to the Lions where he previously played.  

“When I got there (Patriots), it was like, they had a plan for me it seemed like. That plan got bigger with how I played. With that being said, I didn’t know that to begin with because I’d been in Detroit, where I was kind of told ‘We don’t know where to put you.’ And I’m like, ‘Well, why did you draft me?’ You know what I mean? I had my own coach telling me ‘I don’t know where to put you.’ That’s kinda crazy.”

So with that said, here are my top 5 tips to attracting and keeping Top Performing Leaders. 

1.  Recruit Properly

Believe it or not, retention actually starts before the hire.  A-Players are highly sought after, and command a different type of recruitment process to secure them.  Most of the time they are not “looking for a job”, but they are open to opportunities.  If you, or anyone in your management team does not convey any real interest in the candidate during the interview process, they will not have a real interest in your company.  The recruitment process needs to be compelling to secure dynamic leaders.

2. Envision and Excite

Envision them fitting in your company’s business plan, not just filling a need.   Teach your Hiring Management Team to think the same way about prospect candidates.  Anyone who has options has no interest in joining a company who desperately needs to fill a need without showing any real vision for them.  They will sense it like a shark in bloody water.  Even if you do manage to hire them, they will be packing their bags if they can’t see where they fit.  Top leaders want to contribute to the success of the company, and they want to have a goal to strive for.  Get them excited about your company (products and services).  Articulate where they fit in your company before, during and after the hire. 

4.  Give Them Permission to Challenge the Status Quo

Status quo far too often becomes default mode.  With technology and best practices changing (more often than we’d like) regularly, it’s important to have a wide-variety of views into solutions to complicated problems.   In a podcast that I did with Nigel Travis, former CEO of Dunkin’ Brands, he talked about the importance of a challenge culture and how that attributed to the grand success that Dunkin’ Brands has had under his leadership.  The challenge culture gave the leadership team multiple perspectives on problems or opportunities that needed to be addressed, and they were able to compete at a very high level in their industry because of it. 

5.  Remind Them that They are an Asset… Wait, show them! 

Without stating the obvious, one of the ways that you show people that they are an asset is through words of affirmation, but as they say, words are cheap.  Now before you throw your hands in the air, let me suggest that the saying didn’t just show up out of nowhere.  Most of us have experienced leaders who say things that they don’t mean, or make promises they don’t keep.  Perhaps that’s not your style, but that doesn’t mean it’s not in a person’s schema.  People like to be told and shown appreciation.  As we all know, one of the best ways to convey to someone that they are appreciated is through bonuses, raises, etc.  Find out what they value.  

Bonus:

6.  Get Rid of the Bad Apples:

We all know that saying that one bad apple ruins the bunch, and it’s true.  Too many times companies keep leaders that don’t exemplify company values, and often these leaders seem to have an uncanny ability to cause turnover at subordinate roles, which again points to the importance of a company having a value/culture system.  It is much easier to point out leaders that don’t fit your organization if you have a system in place.  Systems tend to point them out like a sore thumb.  Of course, there is also the possibility that you’re the problem.  That’s okay, but if so, then own it – and don’t make an excuse.  There are plenty of extraordinary executive coaches that can guide you in this area.  For goodness sake, Tom Brady is probably the best quarterback in history and he has a coach, so perhaps it’s worth considering a mentor to help you achieve your goals. 

I wish I could say that this is rare, but it is certainly not.  There are way too many companies not addressing poor management, which in turn causes the greatest amount of attrition, and ultimately can cause a company to fail completely. 

To learn more about Molding Business Group and how we help transform companies, check out the rest of the site – and make sure you subscribe to get FREE updates on growing your plastics business

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