"Technical individual contributors
crave a chance to work on challenging projects, use the latest technology,
and collaborate with stimulating peers. Managers want opportunities
to continue learning, a chance to do new and different things, and
recognition from others for attending to both task and people."
Frequently
Asked Questions (FAQs)
How important is retaining employees in an
uncertain economy?
Very important! Unemployment is still at a 30-year low, and
some sectors are still desperate for workers. Companies must
not take
their eye off the talent game because there still just aren't
enough workers to fill the expanding number of jobs, workers
attitudes and expectations have permanently shifted, new opportunities
still lure key talent, finding a new job has never been easier,
the cost of losing talent still negatively affects the bottom
line, and still, the only differentiator from the competition
is your talent!
So, companies still need to provide learning and growth opportunities.
Managers still need to inspire loyalty and communication with
their employees. And the work environment still needs to be enjoyable
and fun. Good employees will always have options!
How are organizations holding managers accountable for retention?
Unfortunately, managerial accountability for retention is not
as prevalent as we would like to see. While some companies are
introducing retention bonuses (dollars for managers who do a
good job keeping talent!), many are just beginning to consider
these ideas.
A few companies who are starting to think about accountability,
are requiring that managers reduce turnover rates, and have set
goals for these numbers. Some companies are requiring that managers,
1) identify the key talent, 2) develop action strategies for
keeping them, 3) then monitoring their implementation of these
plans and their retention success!
What are the three top things you can do to retain technical
individual contributors, managers, and executives?
Technical individual contributors crave a chance to work on
challenging projects, use the latest technology, and collaborate
with stimulating peers. Managers want opportunities to continue
learning, a chance to do new and different things, and recognition
from others for attending to both task and people.
Whenever we have asked an executive who recently decided to
leave an organization if there was anything the organization
could have done to keep him or her, the answer is always a resounding
YES! And, this immediate answer has one common thread - it has
to do with new opportunities, with being "heard", with
the chance to continue to innovate. When those go . . . so do
execs!
