Retaining talents is probably the biggest challenge startups face. Unfortunately, limited resources fall in the way of holding the right people in place. Most of the entrepreneurs I meet keep bringing up the issue, and quickly fall into blaming their small structure, and the higher salaries corporations offer. The widespread belief that those are the only ways to retain employees is a myth that does not hold for talented people.
Talents are individuals who mastered their field for its own sake. They reached this mastery through thousands of hours working on this field because they were passionate about it, and not for money or for fame.
Their ultimate goal is to contribute to their field, develop new theories. Ultimately they aim at changing people`s lives through their contributions. That is moving evolving the mastery stage to the creativity stage. And as soon as you put this into perspective you will realize that higher wages means overpricing average people. For you to retain your talents is to nurture their passion and help them create.
The right question to solve the talents` retention problem is: how can I help my employees "create" within the scope of their field?
And this is what you can do as of tomorrow:
1. Leave them in peace
Get rid of the endless meetings, or if you do them, then have them during lunch
Do not ask for those tps reports, if you want to know something then have an application do it for you
2. Give them interesting projects
Develop a challenging vision and share it with them
Do not have them work on things they can not benefit from
Let them define their own projects and manage their tasks
3. Have them collaborate with other talents
Hire talents, and let them exchange their knowledge
Introduce you them to your talented friends
Have experts come and talk to them
4. Give them $ for knowledge
Make a budget for books, software, movies, conferences, and whatever that may develop their knowledge
Give them good resources
Make necessary ressources available, depending on the field, these may be processors, softwares, chemical ingredients...
5. Have fun
And have fun, you are not managing a company, you are managing a social system, a community...Have fun in everything ou do!
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