Want to know the secrets to engaging and retaining top talent? Well, you may not like this response, but it is the most absolute, precise, and certainly the most relevant answer I can think of: it depends!
When we speak of top talent, we’re not referring to “good” employees or even your most hard-working people. When we speak of top talent, we’re referring to the best and brightest people of your organization — in essence, your top performers.
“But, define talent?” you say. Good question! At Talent Plus, we define talent as a person’s capacity to achieve near-perfect performance. A person’s talent is their natural ability not acquired through effort. In short, talent is what comes naturally.
So, let me flip the question around and ask you, how would YOU engage and retain your top talent? Unfortunately, it’s not a one-size-fits-all approach. Your top talent has more alternatives than ever due to the extraordinarily low unemployment rate and rising popularity of contract work in our present economy. Amid the complexities of selection, development, and retention of talent, it is paramount to comprehend the shifting motivations of today’s workforce.
When organizations are able to successfully recognize their top talent, equip them with the tools they need to do their jobs, and invest in them, they will have a much easier time retaining their best people.
The candidate-driven market has pressured employers—both large and small firms—to re-evaluate and re-examine their engagement and retention strategies. As such, it takes an individualized approach to engage and retain top talent. Hiring officials and managers will find immeasurable success in identifying what is important to their top performers such as work-life balance (e.g., flexible work options), compensation (e.g., incentivization programs), benefits (e.g., unlimited vacation or employer-matching contributions), or development opportunities (e.g., realistic career expectations), to name a few.
In the rapidly changing and disruptive business climate of today, there is no place for complacency. The most skilled employees in a company may have a significant impact on the whole organization. However, when top talent is unchallenged, misidentified, or unrewarded, it becomes an issues on the overall performance of an organization.
According to Harvard Business Review (Martin & Schmidt, 2020), their disengagement and ultimate derailment may deplete leadership ranks and harm employee loyalty and retention across the organization. When organizations are able to successfully recognize their top talent, equip them with the tools they need to do their jobs, and invest in them, they will have a much easier time retaining their best people.
It is therefore essential, in order to retain today’s top talent and keep them fully engaged and motivated, to create a workplace that is meaningful and transparent, one in which the contribution of every individual is recognized.
To better Engage and Retain Top Talent at your organization, Contact Us!
Carlos Linares, MBA is a Leadership Consultant where his role is to share Talent Plus ® strengths-based principles and solutions to assist our client partners on their journey to becoming a Talent-Based Organization ®.
“Through establishing indispensable relationships with customers, I ensure they are well cared for and deliver solutions and services through The Science of Talent ®.” – Carlos Linares
Talents: Intelligence, Individualized Approach, Focus, Conceptualization and Growth Orientation