We spend thousands, sometimes millions, recruiting people into the business. We develop and communicate our employer brand. We produce videos to show people our culture and colleagues. We organise and invite them to events to imagine what it would be like to work with us. We hold their hand when they apply, send them welcome boxes and other nice touches, hoping they’ll turn up on day one.
Meanwhile, we’re saying goodbye to great colleagues who are going through the same process with another organisation. While a new joiner is opening their box of branded goodies, another valued employee leaves the building clutching a helium balloon and a bottle of fizz. We simultaneously wave someone in and wave someone off.
In most cases, it’s a pointless cycle. You have a warm talent pipeline coming into work every day. Why spend all that time and money attracting new candidates to join your business, when you could focus your attention on existing employees? What if you could give people what they’ve found elsewhere? A new challenge, a different team, a chance to take their career up a notch or in a new direction?
Investing in your own people will keep them motivated, challenged and excited about their future. They’ll have a greater sense of purpose and as a result be more productive, happier in their work and more engaged with your business goals.