Pay up

The average salary is expected to increase by 4.1% in 2023, the largest increase in 15 years. It may feel like with the economy slowing so should the rise in salaries, but with inflation continuing to rise, and great talent in high demand, you need to pay up to retain your talent. Certainly, the above bullets are critical but money does as well and it is essential you consider what the competition may pay to recruit your marketing leader or top team member and get proactive to match that.

Define their purpose

Help people understand the value they bring to a company and why what they do matters. Why what they do matters to the customers they serve, the team they surround themselves with and the overall economy and global landscape. People are seeking purpose more than ever and it is critical that CEOs and CMOs continuously reinforce the meaning behind their team’s work.

Ultimately, your people are the secret to your growth and people don’t leave companies unless they are unhappy. Recruiting is getting easier right now because we are seeing so many people not feeling satisfied. If you truly take the time to listen to what your people need and take actionable steps to meet or exceed those needs, you can both hold onto your current rockstars and attract new talent to build a loyal team of all-star marketers.