One aspect managers should never overlook is the development of better-performing employees.
Organizations are constantly looking for new ways to showcase themselves. Both in marketing and talent recruitment, a strong brand image helps to create a sense of belonging and customer loyalty.
This a good start for a manager who wants to ensure the growth of her/his organization. Yet, one more aspect not to be overlooked is the development of better-performing employees. It should be of concern to every capable manager, who, if she/he was forward-thinking, would contact a recruitment agency in order to accomplish the above.
One of the main goals of this “marketing” approach is to enhance the human capital of an organization and to develop its existing employees. Great American sports teams build their rosters through the draft and not free agency. Letting your young talents grow and become more productive is more paramount than hunting down new talents from outside the organization.
In fact, the large majority of top 1000 CEOs surveyed (97%), cited “access to, and retention of, key talent” as their number one priority.
Five Golden Rules to Retain Top Talent
In order to retain top talent, a company should be perceived like more than just a workplace where people are willing to work from morning to evening. It should rather become a place where employees can reach their full potential and be satisfied with participating in the success of the whole group.
To begin with, you need to identify qualified and talented employees who best fit with your business culture. After that, you should be able to evaluate what make high performers shine so bright.
According to a McKinsey study, a high performer is someone who constantly exceeds expectations. In operations, the most talented people can enhance productivity by 40%, while in management they can increase profits by 49%. With regards with sales, better performers are responsible for 67% more earnings.
Once you have found the special people you were looking for you want them to be your building blocks. The best resources are the talented people you hire. Remember that the “best companies to work for” are the ones that engage employees in a unique way. Here is a list of five ways to retain top talent.
- A high performer is someone capable of strengthening your team culture. For her/him to be able to do it, though, you need to give her/him opportunities for both personal and professional development. They need to grow
- Moreover, you would need to create a great office environment. Show your employees that you care about their happiness and health, by providing a shared kitchen, a cosy room to rest, or ergonomic chairs.
- You also need to get your talented employees as involved as possible in the team evaluation and in team activities. This way, they would feel part of the team and managerial strategy.
- You need to avoid pay inequity situation – or at least try to be fair when negotiating every situation – and always recognize great work. According to Clark Morgan, you should build high performance teams with recognition and not mere feedback.
- Last but not least, it is essential to encourage an ideal work life balance.
By following these basic principles, an organization should be able to retain top talent — thus creating a dream team that ensures long-term success.