Hello Everyone! This entry came in a quick succession…
There are so many research and studies on retaining Talent, i recently came across a comparison on a long run cost benefit analysis of retaining a talent or hiring a new, and no doubt former sounded better based on facts mentioned therein.
There are many factors as to why employees chooses to stay..some of the factors are below.
1. They are paid at par with industry – this is one factor however works well if other (below) factor are also managed well.
2. They are mentored – This ensure continual improvement of your existing talent pool and help in succession planning. Ensure that they realizes that they are mentored for self and org. Development.
3. Inspired – Inspiration is the key. They should feel inspired not feared.
4. Empowered – Coach, develop, test and empower.
5. Challenged – They should be challenged some time so that they continue to further improve and innovate.
6. Involved – You can relate it with engagement. Engagement through involvement and engagement through development.
7. Appreciated – This works as moral boosting and confidence inoculating device. Do it often.
8. Kept on a mission – To maintain adventure and thrill in their work give them challenging tasks and projects. Full backup support must be ensured.
Thank you for your time reading this, do send your comments.