One Simple Tweak to Improve Employee Retention and Hiring for Managed Service Providers
A few weeks ago, Denise Miller, Senior Human Resources Consultant with PathShare HR Services, wrote about whether the need to hire was a symptom or problem. In a survey of tech executives at Managed Service Providers (MSPs), hiring was among their top challenge. What we have found is that executives aren’t diving in to find out the underlying causes of their need to hire. Denise gives four possibilities.
Four Reasons Managed Service Providers (MSPs) Need to Hire
- Your business is growing and you need to add positions.
- You’re unable to retain your best and brightest employees.
- You’re not sure why people are leaving.
- Those who left didn’t have the skill set you thought they did.
The second reason listed above - that you’re unable to retain your employees - stood out to me. Retaining top talent can fan the flames of existing hiring challenges. The top two “Pain Points” MSPs face, according to the survey Datto released earlier this year, both address hiring.
Hiring and Employee Retention are Top Challenges for MSPs
MSP Pain Point #1: Marketing/Sales
- Lead Generation
- Hiring Sales Talent
- Cold Calling
- Market Differentiation
MSP Pain Point #2: Staffing/Training
- Recruiting Tech, Sales, Marketing
- Employee Training
- Employee Retention
*Images from Datto's 2018 State of the MSP Report
The top challenge for Managed Service Providers, according to the survey, was marketing and sales, with an emphasis on hiring sales talent. Following in second place was staffing and training, which included employee retention. So, is it possible one of the reasons MSPs are struggling with hiring is because they also struggle with employee retention?
Stay Interviews can Help Solve MSPs Retention and Hiring Problems
If any of this rings true, conducting “stay interviews” may help you on both fronts.
“Consider implementing a practice of stay interviews to continually seek insight into what is important to the employee and how your company can keep them engaged. Most people are familiar with exit interviews. It’s important to understand why someone is leaving but it’s even more useful to understand what makes people stay.”
– Denise Miller
Luckily, if you’re like me and have little familiarity on how to implement stay interviews, our PathShare experts are ready to share their experience in a 30 minute webinar next week. Find out what they are, who should conduct the interviews, how to prepare for them, and other skills to keep your top employees, and shrink your hiring problem.
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