The decision between retaining employees and hiring new talent is a complex one, often depending on a company’s specific needs, goals, and circumstances. Both approaches have their merits and potential drawbacks, and finding the right balance is crucial for long-term organisational success.
Good things are possible when new managerial blood is brought into an organisation. For one thing, there are often fresh ideas. You know yourself how easy it is to get so close to something that you can’t see the forest for the trees. You can’t see a solution that’s obvious to someone from the outside.
And, of course, if you don’t grow, then the status quo will feel normal. It will be the thing that you subconsciously pursue. If you were asked point blank if this was your goal, then you’d deny it outright; nevertheless, it wouldn’t change the fact that you were in a rut and loving it. Bringing in new employees often injects fresh energy and ideas into an organisation.
New hires offer innovative perspectives, challenge old ways of thinking, and help push the company to move out of the dinosaur era and adapt modern thinking. Sometimes organisations need to bring in specific expertise that their current workforce lacks.
Skill gaps
Hiring new talent with these skills can address gaps and improve the organisation’s overall capability. A company’s culture can become entrenched over time. New hires can reinvigorate the environment, introduce diverse viewpoints, and promote inclusivity and innovation.
You see, the culture may be healthy; but quite often it’s not. In fact, one of the primary reasons that people change jobs is because they don’t like their bosses. If they’re unhappy with them, then they’re probably unhappy with the environment that they have created.
A new boss can cause everyone to breathe the proverbial sigh of relief. However, replacing an employee can be expensive. The cost of hiring, onboarding, and training a new employee can be substantial. By focusing on retention, companies save time and money while ensuring productivity is not compromised.
Dangers of new blood
There’s a danger to bringing in new blood, however, that must not be overlooked. While it is often seen by the organisation as a good thing, from the perspective of the employees, it isn’t. That’s because it implies that there is no one there who is good enough. New managerial blood creates uncertainty.
It puts people into the mode of, “I have to prove myself” rather than simply concentrating on doing what they were doing well already. In other words, new blood can lower productivity rather than improve it.
As long as you are aware of this, you will at least be somewhat prepared if promoting from within isn’t a viable option. Of course, if you can, then it’s likely to be a more positive experience for everyone. You will give hope to those with managerial aspirations and deter them and others from seeking promotion elsewhere.
While this could be true and often is, it doesn’t change the fact that there will be those who think they are or that someone else is. And the problem is that when you bring in new blood, you’re in effect telling everyone that they’re wrong.
The risk, therefore, is that you could isolate and demotivate your employees by bringing in the new managerial blood that you’re convinced you need. That’s not to say that you shouldn’t do it; only that you have to recognise and deal with the potential repercussions for having done so.
Striking a balance
Remember how excited you were when you started your first job? Everything was amazing, new, and different. It’s a good reminder for those who have been in a company for a while – that anything after a long time becomes routine, or perhaps even stale. So engaging or interacting with New Blood – or better yet, adopting a New Blood Mentality – helps you to see your work with a fresh perspective, as they would.
The ideal approach for any organisation lies in striking a balance between retaining valuable employees and bringing in fresh talent. Both employee retention and hiring fresh talent are critical to an organisation’s success.
Retaining experienced employees helps ensure operational continuity, while new hires bring innovation and adaptability. By investing in both, companies can create a dynamic, sustainable workforce that supports long-term growth and competitiveness.
