Top Ten Talent Management Tips

One of the greatest challenges facing companies today is retaining top talent. The yearly expense to an organization of replacing an employee (including separation, replacement, training and lost performance costs) can be as much as that employee’s salary for a year. Turnover also erodes morale among those who stay and harms customer retention. As a result, retention is the top concern among human resources executives, followed by succession planning, attracting and securing talent, and management and organizational performance systems.

The following lists the Top 10 things you can do increase talent retention, NOW!

1. Reduce Turnover
2. Increase Employee Engagement
3. Retain Your Top Talent
4. Get to Know and Show Genuine Interest In Your Employees
5. Build Trust: Build Relationships At All Levels
6. Make Work Meaningful
7. Challenge Employees
8. Provide Them With Options, Choices and Opportunities
9. Make Retention Everyone’ s Responsibility
10. Conduct Proactive Stay Interviews

All of these factors may play a role in determining employee retention, but the relative importance of each depends upon the organization. This is why we (Evantec) or any company should tailor programs to the organization. To offer the most comprehensive solution to our clients’ retention needs, we offer our own solutions or suggest services provided by our strategic partners. The ultimate desired result is a reduction in turnover and a stronger, more satisfied workforce.