Episode 184 - Attracting and Retaining Top Talent in 2025

 Every business owner knows the struggle of building the right team. You're not just hiring for skills, you're looking for people who fit your culture, share your vision, and will stick around for the long haul. And yet, so many businesses get stuck in the same frustrating cycle.

High turnover, unfilled roles, and a workplace that doesn't feel magnetic to top talent. But what if there's a way to break free from that cycle? What if you could attract the best people for your business and keep them engaged for years to come? Today, we're diving into the strategies and mindsets that can help you do exactly that. Whether you're building your team from the ground up, or you're looking at strengthening the one you have, this episode is all about turning your workplace into one that talented people are drawn to and don't want to leave. 

Welcome to the Budding Entrepreneur Podcast. Good day and welcome to the Budding Entrepreneur Podcast. I'm your host, Randy Bridges.

In each episode, we dive into practical business strategies that you can put to work in your business right away. We also focus on inspiring stories from leaders who are shaking and making things happen in their industry. It's all about giving you the tools and insights to take you and your business to the next level. 

So get comfortable and let's jump right in. All right, all right. We are on episode 184 of the podcast, and today is Friday, January 31st, 2025.

Today, we're going to be talking about something that every business owner faces, whether they're just starting out or scaling up, and that's how to attract and retain the right people. Now, this isn't just about hiring. It's about creating a workplace that brings out the best in your team, one that feels magnetic to top talent. 

You see, in business, your people are your greatest asset. Without a strong, engaged team, it's nearly impossible to grow sustainably or to achieve the kind of success that you're probably aiming for. I know I'm aiming for high success, and I don't see that you would be any different.

But the truth is, finding and keeping great people is easier said than done. Richard Branson, an entrepreneur known for his innovative approach to business and leadership, has built many successful companies by prioritizing people. His philosophy forms a great foundation for our discussion today, as it centers around treating your team in a way that empowers them to grow while ensuring they want to stay.

So, here's what we're covering in today's episode. Obviously, a quote from Richard Branson. We're going to be talking about why turnover happens and its impact on your business.

How to create a magnetic workplace culture that attracts top talent. And practical strategies to keep your best people engaged and thriving. And, of course, we'll unpack that quote about leadership and retention as we move through today's discussion. 

So, let's dig in, shall we? For our quote of the week, Richard Branson said, Train people well enough so they can leave. Treat them well enough so that they don't want to. And that quote sums up one of the biggest truths about building a great team.

It's all about balance. You want to develop your team so that they grow in their roles and skills, and at the same time to develop with an environment that they don't want to leave. Let's start our main topic here of why turnover happens and its impact on your business.

Let's deal with this head on. Why does it seem like the best people always are the hardest to keep? Turnover happens for a variety of reasons. Maybe the role isn't aligned with the person's strengths. 

Maybe the culture doesn't feel right to them. Or perhaps they don't feel appreciated or see a path for growth within the company. I've experienced that myself many times.

Here's the reality. Turnover isn't just inconvenient. It's expensive. 

It takes time and money to hire and train someone new. And when someone leaves, they often take valuable knowledge with them, sometimes to your competitor. Beyond that, constant turnover can lower their morale for the rest of the team, creating a cycle that's hard to break out. 

I've seen this play out in many of my clients. They're stuck in what I call the revolving door problem. They hire someone, train them, and before they know it, that person's heading out the door.

Let's be clear about this. It's not just an HR issue. It's often a culture issue.

And that brings us to the first step in solving it, creating a magnetic workplace. A magnetic workplace is one where people want to be. It's where they feel valued, connected, and motivated to give their best every day. 

So how do you create that kind of environment? Well first, lead with clarity. People want to know what they're working towards and how their role fits into the bigger picture. When your team understands the vision of your business, they're far more likely to feel invested in its success.

Second, prioritize relationships. I can't stress this enough because people don't leave jobs. They leave managers, owners, and to a point, ideology. 

If you can build trust with your team, you listen to them and create an open door policy where they feel heard. It goes a long way toward building a fantastic agency. And third, recognition goes a long way. 

A simple thank you or acknowledgement of a job well done can make a world of difference. When people feel appreciated, they're more likely to stick around. Now, innately we all understand this, but it's hard to remember that when the pressure of business threatens to overwhelm our internal voice. 

You know, that little guy or gal that crawls out onto your shoulder and talks in your ear to you. Yeah, they get really hard to hear when things from the outside world are just screaming at you. Richard Branson's quote ties perfectly into this idea. 

When you train people well enough so that they can leave, but treat them well enough so that they don't want to leave, you can create a culture that's both empowering and engaging. Now let's move from culture to actionable strategies. That's what we're all here about is business solutions to be able to handle what our problems are. 

So what are some of the specific things you can do to keep your top talent engaged and thriving? Here are three key strategies I've picked up from some of the greatest leaders I worked with and have followed. Number one, provide growth opportunities. Your team wants to grow. 

That might mean offering training programs, leadership development, or opportunities to take on new challenges. When people see that your business is a place where they can learn and advance, they're more likely to stay longer. Number two, offer flexibility. 

The modern workforce values flexibility. Now that could mean remote work options, flexible hours, and even just being understanding of personal commitments. Flexibility shows that you value your team as people, not just employees. 

And number three, foster collaboration. A collaborative environment builds stronger connections within your team. This is where agile structure helps because you're building not silos, but you're actually building teams that have to work together.

When people feel like they're part of something bigger, working towards shared goals, they're more motivated and engaged to continue doing that. I've personally seen these strategies work wonders, both for myself and for my clients. In fact, one of my clients implemented a mentorship program that paired senior team members with newer employees. 

Not only did this help with the onboarding for the new employees, but it also created a sense of community and shared learning. The top people got to see things again from the brand new person's perspective, and they could overlay that and provide a better structure for cross-training, especially in the very beginning. It's these little steps, small in nature, but epic in payoff, that can manifest a tremendous team in a short period of time. 

How long? I've seen it make a difference in as little as two weeks. Consider the delta, the total distance between where you are and where you want to be. Now, the bigger the difference, the more steps you need to take, and the longer it can take.

Because this is fundamental to quantum changes, it can often occur much faster than you expect, but it will certainly feel slower than you want. Now, before we wrap up, let's touch on a topic that ties into this one. Your top talent isn't just about culture, it's also about financial strategy. 

When you budget effectively, you create the resources needed to offer competitive salaries, to invest in training, and to build the kind of workplace that attracts great people. Now, next week we're going to dive deeper into how financial planning can set the tone for your long-term success. Alright, let's hit our recap and do a sneak peek.

Today, we explored the importance of attracting and retaining top talent. We talked about why turnover happens and the impact it has on your business, how to create a magnetic workplace culture that makes people want to stay, and practical strategies to keep your team engaged, from growth opportunities to flexibility and collaboration. Now, next week we're talking about the next 90 days, setting the tone for long-term success. 

We'll focus on how to establish momentum at any point of the year with a clear and achievable next 90-day plan. It's going to have a lot to do with finances, so you're definitely going to want to hit into that and listen up. It's going to be helpful. 

That's it for this episode. I hope you picked up some valuable insights and maybe even sparked a few new ideas. If you want to keep the conversation going, or maybe even explore partnerships, don't hesitate to reach out. 

And hey, don't forget to subscribe, leave a review, and share this with someone who needs to hear it. The steps you take today could be the start of something big tomorrow. For The Budding Entrepreneur, I wish you the best in your health, your wealth, your business, your family, everything about you. 

Take care, and we'll see you back here next week.