Lock in and Engage Top Talent

In good times and bad, organizations have learned about the impact of thinking that employees are dispensable. Such thought is particularly unwise as the economy improves after a downturn.

During the past few years, companies have lopped off employees in the hundreds of thousands for reasons of economic survival. The staff gaps that resulted are now being felt as those same companies are faced with competition both for business and the top talent they still possess.

Slowly, we are seeing a shift from a buyer’s to a seller’s labor market. There may be a high unemployment problem but HR executives are still complaining about a significant skill gap, that is, a difference in proficiency between the majority of individuals in the market for jobs and those that companies want in their labor force.

Rather than having just a replacement mentality, human resources needs a more strategic approach to the situation—one that finds answers to the coming high turnover. They need a solution that also addresses the bad reputation that the recession has wrought on many companies and that identifies cultural changes that will attract new employees.

Evidence has shown a high correlation between employee job satisfaction and engagement and employee retention and recruitment.

Here are some strategies to engage and retain top talent:

[wcm_restrict]Become an employer of choice. This means building a reputation as a company that recognizes and rewards accomplishments, that challenges creativity, and that offers ongoing opportunities for personal and professional growth.

Link daily activities to corporate results. Employees want to see that their work makes a difference and contributes to the mission and strategies. Communicating the relationship is the task of organizations’ leaders. It tells employees that they are an important part of the organization.

Encourage managers to listen to their staffs’ ideas. Nobody likes to work for a place when his or her input is not sought or is ignored, or simply makes no difference. You want managers who are willing to listen to their employees’ suggestions and then implement those suggestions if they are good ones.

Don’t bore talented workers with routine tasks. Today’s employees want a lot more variety, both to stay challenged and to have a more impressive resume.

Promote from within and let that fact be known. People like to know the advancement potential of their efforts.

Provide strong, positive leadership. Most people want a senior management team that they can trust to set the right course, practice what they preach, and achieve strategic goals.[/wcm_restrict][wcm_nonmember]

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About the Author

Florence Stone is editorial director for AMA and editor of MWorld, AMA’s quarterly membership journal. She is the author of Coaching, Counseling & Mentoring, The Manager’s Question and Answer Book and The Essential New Manager’s Kit.