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How do you attract, retain and manage talent?

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Today, the person who works ten or more years for the same company is a rarity. This is especially true of talented managers and workers, for these individuals find nothing at all wrong with...

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How do you attract, retain and manage talent?

  1. 1. 24th March 2010 How do you Attract, Retain and Manage Talent? Imran Zaman @ DAYWATCHER.COM 1 © Copyright Imran Zaman, DAYWATCHER.COM 2009-13. All rights reserved.
  2. 2. How do you Attract, Retain and Manage Talent? In the past, it was taken for granted that people hired would work for decades and then retire from their company. Yet that is no longer the case. Today, the person who works ten or more years for the same company is a rarity. This is especially true of talented managers and workers, for these individuals find nothing at all wrong with working one year here and one year there as they attempt to advance their careers. It is a great loss to see talented people go from a company, and even in down economies workers are unafraid to leave a job for what they think are greener pastures. Fortunately, all is not lost for those companies who want to keep their most skilled and talented workers with them for years to come. There are many strategies for attracting, retaining, and managing talent in today’s down economy, and the following are just a few ways companies can keep their best people on board. PROVIDE COMPETITIVE BENEFITS In ordinary economic times, benefits are not always the chief consideration for job-seekers. During shaky economic situations, competitive benefits are far more important to workers. Companies unwilling to match or at least approximate the salaries offered elsewhere are quite likely going to lose their best talent to their better-paying competitors. Besides salary, potential or current employees also weigh holiday time, life insurance, retirement plans, and more when looking for a job. It is wise for internal HR departments to keep a close eye on the benefits that competitors are paying and adjust what they offer accordingly. OFFER REGULAR PROMOTION OPPORTUNITIES Some talented employees leave one organisation for another because the new job allows them to advance. Having too many dead-end positions filled by gifted workers is a quick way to lose those employees when opportunities to advance at other companies arise. Attracting and retaining top talent requires companies to offer many ways employees can continue to rise to the top. Offering promotions to current employees first before searching for workers outside the company will also help keep talent around longer. GIVE OPPORTUNITIES FOR CAREER ADVANCEMENT Skilled employees are looking for ways to better themselves through better education and training, and businesses can attract and retain the best talent if 2 © Copyright Imran Zaman, DAYWATCHER.COM 2009-13. All rights reserved.
  3. 3. How do you Attract, Retain and Manage Talent? they help their employees improve their skills. Sending employees to training courses on a regular basis and providing tuition reimbursement will attract good workers and keep them around for years to come. VALUE EMPLOYEE INPUT Employee morale is low when workers in a company feel as if upper management never listens to them. Organisations should try to involve subordinates in decision-making as much as possible and make changes based on their input when feasible. Employees who feel like they have a say in running a company have a better reason to stick around than those who do not have any such say. AIM FOR DIVERSITY Younger workers are especially looking for a diverse workplace because of their experience growing up in a diverse world. Having people from a variety of different backgrounds will attract young talented workers. These are just some of the many ways companies can attract, retain, and manage talent in today’s down economy. Companies who follow them and ask their workers what they want will keep their best talent for years to come. About the DAYWATCHER.COM Business & Technology Blog The daywatcher.com Blog offers free and unique articles covering the latest in business and technology developments. It is a trustworthy and unbiased source of information for professionals and business managers. It also helps organisations deal with developments and challenges related to business and technology effectively. To find out more about the Blog, get your hands on the latest free articles, white papers and much more visit www.daywatcher.com. Thanks, Imran Zaman. Editor | DAYWATCHER.COM - The Business & Technology Blog Email: imran.zaman@daywatcher.com| Web: http://www.daywatcher.com Twitter: http://twitter.com/daywatcherblog | LinkedIn: http://linkedin.com/in/izaman 3 © Copyright Imran Zaman, DAYWATCHER.COM 2009-13. All rights reserved.

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