An organization’s key talent comprises its foundation and can do wonders for its business. Identifying and retaining these employees undoubtedly leads to significant business growth and organizational excellence. Do you identify the talent in your organization that you can’t afford to lose, and if so, what criteria do you use?
I suggest considering previous performance, longevity in the role and organization, significance of the position, and, most importantly, contribution to the business. I often identify key talent based on a combination of these factors.
Along with identification, talent professionals have the responsibility to actively engage and retain such talent. First, it is critical that employees understand the vision, mission statement, strategy, objectives, and values of the organization. Do senior leaders and the talent function heavily promote the company’s core value practices as organization success pillars? To what extent do employees practice these values in their daily work?
Use a variety of channels to communicate the company culture and core values throughout the organization. All-staff activities and friendly competitions are additional methods to ensure core values are instilled in each employee. Train influential employees to be value and ambassadors.
The talent function is responsible for proactively anticipating business and employee needs. High-performing employees also can act as spokespeople in this effort. As a result, employees gain ownership of vital business strategy, which encourages retention and supports the organization’s long-term goals. Are you fully utilizing your key talent for these purposes?
Organizations must ensure key employees are engaged and enjoy their work. What creative methods can you adopt to understand employees’ opinions about their jobs and working environments, as well as their satisfaction regarding financial and non-monetary benefits? In other words, what is pulling employees to remain with the organization? In my experience, basic recognition and information sharing are important employee retention methods. Ultimately, you must determine the talent identification and retention processes that work best for your organization and employees.
For more on managing talent, check out Prakash’s previous blog post.
