What makes a good team? Well, that’s a big question!
A good team is a result of the combination of many factors. Personally, I think that successful teams are built by the combination of strong leadership and talented members. I often talk about these two points: how to be a strong leader, and how to retain your talented team members.
The keyword that I want to highlight there is "retain."
When it comes to talented team members, spotting talent is important - but being able to retain talent is just as important, if not more. Your ability to spot talent means nothing if you can’t build a company culture that can retain that talent you’re seeking.
Otherwise, it doesn’t matter how many talented people you onboard. You want them to stay by your side.
Good Retainment Builds Long-Lasting Teams
In building this company, I’ve learned that having a long-lasting team is one of the most advantageous things for a business.
Teams that are together for a long time become a family. After being in this business for over thirty years, my founding team members that have stuck around since the beginning are my greatest asset. I couldn’t be more thankful for each one of them. We celebrate each 25 year team member in a unique and special way – and oh what a noteworthy milestone it is for both of us!
The Importance of Nurturing Your Team’s Talent
But I do know that they, like all talented professionals, needed to be nurtured by the overarching business culture. Otherwise, they wouldn’t have stuck around all this time.
Talented professionals will always have options. If they’re going to stick with you and contribute to your business, there needs to be reasons to stick around.
The big question that’s forming here is this: Once you’ve spotted great talent and you’ve brought them on to your team, how can you nurture them? How can team leaders help top talent grow with your company versus losing them to another place?
Keeping talent on your team is all about creating a mutually beneficial relationship between your business and your talent. Everyone needs to grow, expand, and foster success.
Here are a few of the ways I nurture the talent on my team to keep them on board.
Provide Them With the Tools They Need
Your team can’t do their job if you’re not giving them the tools that they need.
Being a company that embraces the toolkits that are available today is a baseline for getting talent to stick around. Shaping a strong infrastructure for your business provides an organized and comfortable place for your talent to grow roots.
Whether it’s technology or professional education, make sure your team has access to what they need.
Be a Flexible Leader
Flexibility means being open for the possibility of growth. Rigidity means abstaining from growth. Which type of business do you want to operate?
Option #1, of course - and your talent wants the same thing. If you want to keep your talent around, it’s going to require you to be more flexible. Flexibility is one of the best leadership traits for getting your talent to stand by you.
If you’re open to new ideas and approaches, your team will feel like they’re at a company where they can grow and develop. They won’t be looking for other places to go because their needs for expansion are being met.
Don’t Stifle Their Growth
As a boss, do you say "no" too much?
If you’re used to rejecting the new ideas that your team members propose to you, you may be stifling their growth. Naturally, talented team members are bound to be innovative. So, leaders shouldn’t be surprised if a newbie on the team is eager to make improvements or reorganize workflows.
When this happens, don’t just say that the old ways are the best ways. Be open to new ideas and growth strategies. Maybe they’re seeing something you’re not seeing from your team’s perspective that can benefit everyone.
Stanley C. Middleman
CEO President
Freedom Mortgage Corporation
