CEO Secrets: 5 Ways to Retain Top Talent

Finding the right candidate to complete your ad agency’s leadership team can be a challenging endeavor. Between local and national searches, narrowing down the list may take months. And then once you find the best candidate for the position, how do you get them to say yes to an offer of employment?

For many CEOs, locating the “right” person to fill an agency’s ranks is difficult enough without the possibility of that special someone respectfully declining the offer. Learn how to soar above the competition in the advertising industry by improving your ability to secure top-notch employees.

Is talent retention a problem?

It may have been a while since you’ve added a new member to the team, but 2014 has proven to be challenging for CEOs. According to PwC’s 2014 Global CEO Survey, talent retention is a top concern with nearly 55% of CEOs who are worried about finding the best candidates. Surprisingly, more than 90% of CEOs acknowledge existing talent strategies need to be revamped.

But where does that change come from and how do you implement it? Review these five talent retention tips from the desks of Google’s C-suite execs and the playbook of Warren Buffet.

Strategies for retaining talent

1. Review your agency’s employment brand

What is your company saying to prospective employees? From online reviews to social media, candidates have many available resources to feel out a company’s employment brand. Earlier this year, Forbes reported that having an attractive employment brand, which includes employee value propositions, outweighs the importance of recruitment resources.

To begin reviewing your agency’s standing, conduct a search online, read company reviews on sites like Monster and Indeed, or set up a Google alert for brand mentions. Locating and correcting an existing employment brand issue is an efficient way to prevent declined employment offers in the future.

2. Create a positive corporate environment

The most recognized investor in a century, Warren Buffet is a role model for CEOs because of his business expertise, team-building skills, and (of course) his successful track record of investments. Less well known is Buffet’s ongoing effort to build a positive corporate environment. According to his secretary and management team, Buffet’s forgiving, uplifting, and affirming nature were the real keys to his incredible accomplishments.

What is the current pulse around your office? Are people feeling motivated and encouraged or frustrated and resentful? When your goal is retaining the ideal candidate, invest in your company’s employees and corporate culture.

3. Look for—and model—passion, according to Google

Hiring an employee is easy, but hiring the best employee takes time. Google’s talent acquisition model focuses on seeking passionate individuals who display integrity, character, and insight, resulting in the development of “Googleyness”—one of four characteristics sought by the search giant. In practical terms, Google’s hiring pros perform candidate research, formulate poignant interview questions, and structure the process to glean numerous insights into a candidate’s abilities.

However, it’s important to recognize that a candidate is evaluating you and your agency before, during, and after an interview. What will they observe in that time? Are employees passionate and excited to be at work? Furthermore, are you? Attracting and retaining talent requires you seek and display passion for your brand.

More articles from AllBusiness.com:

• Increase Your Web Design Profits With ‘Buffet Style’ Pricing
• 5 Steps to Improving Customer Retention
• Establish the Primary Objective of Your Sales Presentation
• How to Train Your Team to Think Strategically
• How to Hire Employees for Potential, Not Just Past Experience

4. Put yourself in the candidate’s shoes

If you're attempting to fill C-suite positions, the search may take you around the world and back again. Keep this in mind when making an offer. Consider what concerns, if any, the candidate has about accepting the position. From fitting in to the corporate culture to factors as simple as relocation concerns, put yourself in a candidate’s shoes to anticipate—and thwart—barriers to coming aboard.

Top reasons for declining relocation include family ties, housing concerns, and cost of living increases, in addition to the expense of moving. Encourage a candidate to accept your offer by specifically addressing these concerns, and offering to cover these costs.

5. Emphasize value propositions

With more agencies competing for top talent, your company’s employee value propositions need to be evident, relevant, and desirable, but not necessarily expensive. Employees are looking for more than benefits and fancy vacations; what they really want is choice.

Do you provide a flexible work schedule, generous annual vacation days, or the ability to lead highly visible projects? What about the option to work from home or take a half day on Fridays? Evaluate your current value propositions to ensure they contribute to employee satisfaction and long-term retention.

Overcoming CEO challenges

Between retaining talent and evaluating your brand’s talent acquisition process, the next year is shaping up to be a busy one. For inspiration, take advice from Douglas Conant, former CEO of Campbell’s Soup: “To win in the marketplace you must first win in the workplace.”

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