Retaining key talent is always a challenge. The New Year is a time when people feel compelled to make changes in their life, including their employer. What efforts are you taking to retain high potential employees?
Retaining key talent starts with a clear definition that includes:
- Identifying employees, below the top level, who have high potential for adding current and future value to the business
- Understanding which employees are performing critical roles to business success
- A primary focus on developing these individuals
Retaining key talent requires more than a competitive salary and solid benefits. Spend time with high potential employees to better understand their satisfaction level with the job, company, and their work responsibilities. Ask about their workloads, work-life balance, and if their skills and abilities are being utilized to the fullest extent.
Many business owners are surprised that conflicts with immediate supervisors or fear of job security contribute to a person’s decision to seek employment elsewhere. You may not be aware of any issues until it’s too late. Simply having the opportunity to speak openly can be an important factor in employee retention.
Our daily interactions with employees are just the tip of the iceberg. We see performance results of their knowledge, skills, abilities, and attitudes. Deep underneath lie the person’s self-image, motivations, personal beliefs, self-awareness, and other emotional factors which contribute to the surface performance we see.
Coaching, mentoring, training, and assessments are some of the activities that can strengthen the connection between employees and employers, grow high potential employees, and fully engage key talent to align their personal goals with the goals of the business.