Retaining top talent

‘We just need to bring in the right people to turn things around.’ It’s a statement I’ve heard many times from directors and senior managers when discussing the issue of poor performance.

Of course there is some semblance of truth in this. However, simply getting top talent through the door is only part of the solution.

The missing piece in the performance jigsaw is often retention.

It begs the question - why would leaders invest considerable time and cost in recruiting, with no consideration given to how these new recruits can progress and thrive?

The retention of top talent maintains competitive advantage, continuity and high performance in any organisation.

So, here are a few considerations:

• Benchmark salaries, reward high achievement with performance bonuses and offer profit-sharing

• Provide clear career paths and invest in personal development

• Celebrate achievement and reward excellence

• Demonstrate transparent leadership, check in with your team through regular 121’s, encourage feedback and act on it!

• Foster a purpose-driven and inclusive culture where people feel valued, respected and heard

• Support work-life balance

• Conduct stay interviews to identify problems before they escalate

When implementing any recruitment plans, always ensure there is a retention strategy in place to maximise the experience for both parties.