- February 3, 2011
- Posted by: admin
- Categories: Blog, Career Growth, Communication, Human Resource Management, Relationship management, Requirement Analysis
Since top performers are considered as an asset to any organization therefore managing and retaining such talented people is extremely imperative for both short and long term company’s success. 
Besides, sometimes it’s difficult to find top talent in the job market these days and retaining them is even a bigger challenge. Rationale being, as they want to grow professionally therefore training and professional development are of huge significance to them.
For this reason, management formulates strategies to embrace and reward them because have the ability to boost the overall company’s performance that can assist in providing them an edge over their competitors.
My question is, what 5 strategies / ways would you suggest to mange and retain such top talent considering present economic climate?
Hi Salima,
You basically have two groups of people here. One being for the money…they will be the first to jump ship when the competitor offers a little more. The other is there to see growth and is committed to the company….these are the ones you want to retain and invest in.
How do you do this?
1. Give them a say
2. Listen to them and implement their ideas
3. Make them a stakeholder
4. Provide a laid back environment with little distractions
5. Make the workplace enjoyable to come too each day(little backstabbing, water cooler talk and so on….this is managements JOB.)
Joy is correct about needing more information but, in general, why do people decide to leave and what do they look for when they make that decision? There are people who simply get a great offer and choose to take it and unless you can out-bid the competitor there’s a problem.
The best thing you can do is keep people from responding to/looking for other offers. And here is the list that fits most positions:
1. Does my immediate superior show interest in me as an individual? E.g. does that person ask for my input, allow me to meet clients etc.
2. Does my immediate superior keep me informed about what is going on in the company?
3. Does my immediate superior let me know what the company makes or provides?
Believe it or not those are the key areas and yes it all has to do with how much I like working for my boss.
Links:
* http://www.roseporterfieldgroup.com/archives.html
After reading many opinions on this topic and seeing many numerical polls there are those who are money driven, which should be avoided, and then there are those who want a clear career path that makes them grow, a challenge, and recognition.
So thats 4 strategies, compensation falls in the middle according to polls, growth and challenge is always at the top.
1. Compensation
2. Challenges
3. Title
4. Travel
5. Influence