How do you retain good talent, especially when PM roles are in such high demand across the industry?

I’ll skip the obvious things - pay well, set a vision, growing company, skill building, career pathing - and highlight some under-rated ones:  Hire well and have high talent density. Most people who choose a career in Product Management are motivated by self improvement - being around other talented PMs who they admire and who push their thinking is motivating.  Stay lean. This may seem counterintuitive - isn’t it good to have enough PMs? Honestly, no. If you hire well you want to give people ro ...Read More

People stay in roles so long as they are inspired by their leader, feel valued and feel like they are growing their skills. I’ll break each of these down in terms of how I approach it. Feel inspired - Bringing a strong vision, having a clear idea on how my team can execute against that vision, eliminating barriers for them to execute, and being ready to dive into any area to ensure everything is moving along. This requires me to be high and low, and makes the team feel confident that the captain ...Read More

There is no doubt that retaining top talent is critical to any organization not only because of the value top talent brings, but also because it takes time to find and ramp up a new hire. While establishing a new team, hiring the right person who is a good fit for the team and the company contributes greatly to talent retention. What I offer to my talented people to retain them are: understanding, recognition and growth opportunities, which are all built on a trusted foundation. I strongly belie ...Read More

Product managers are ambitious, goal-oriented, and passionate people (generally). When managing, growing, and retaining these types of individuals I like to keep in mind the following: Tie personal goals to business goals Identify side projects to help create opportunities for future growth Revisit long-term career aspirations every 12 weeks and see what they are doing to get skills toward that Connect them to people that will help them grow skills that they want to grow in Approaching each PM a ...Read More

I’ve worked in Product across two very different contexts – a company that favored complete alignment versus a company where autonomy was part of their cultural DNA.  While there are a lot factors that contribute to retention (industry trends, opportunities for career progression, compensation), the factors in my daily focus are derived from this definition of psychological safety: Meaning – company vision, team purpose, individual contribution, and belonging. Mastery – goals and accountability, ...Read More

Speaking from personal experience, people generally work for their managers and less so for the company itself :) Don't get me wrong, the financial aspects and the financial wellbeing of the company you are part of matters ofcourse, but the equation you have with your manager matters a lot as well. What that translates to is, the equation and alignment you have with each individual in your team, is critical to retaining talent. Generally speaking, people thrive when they feel they are learning s ...Read More

Retaining good talent can be hard - especially when your budget is tight and competitors are able to offer your PMs more money and new experiences where they can learn. In order to retain good talent there are 3 key steps you need to take for EVERY employee on your team. Step 1: Understand what motivates your employee Not all employees want the same thing or need the same thing in a job. This also may change for an employee overtime. Step 2: Discuss how you can deliver on this motivation with yo ...Read More

I think it all comes to knowing the intrinsic motivation of your team. Money is just one part of the equation, and usually not the biggest one. When it comes to intrinsic motivation, people want to feel that:- they contribute to something greater that will impact people- they have autonomyI try to foster a culture for PMs where they can really feel this, where they feel empowered as part of the product teams to come with solutions.What helps also is having a manager that really knows what is "pr ...Read More

Retaining good talent in the competitive landscape of product management requires a proactive approach focused on fostering growth, trust, and a sense of impact within the team. Here are some effective strategies: Career Growth Opportunities: Provide clear pathways for career advancement and professional development. Offer opportunities for skill enhancement, leadership roles, and cross-functional collaboration to keep product managers engaged and motivated. Trust and Responsibility: Empower pro ...Read More