Accept it or not—believe it or not, if a top talent leaves an organization, the performance of the entire organization gets affected, more or less. Research proves that losing the 10% of top performers results in 5-10 times greater impact on an organization than losing any average performer.
Keeping this mind, the following are some proven tips and tricks that will help human resources professionals in talent retention.
- Encourage your top performers to provide open feedback. It can be like what factors motivate them to continue their job in the organization. Simultaneously, do not forget asking them about their pain areas. It will give you a scope to know if they are happy in their jobs or not and obviously, address their grievances.
- Rating your top talent’s jobs is another good way to know more about what is going on in their mind. Encourage them to rate their jobs on a 1-10 scale on the following factors.
- My office ensures honest, frequent, and two-way communication
- My office provides me challenging work that I enjoy
- My office gives me ample opportunities to learn and grow
- My office uses good performance management systems
- I know my work and performance significantly contribute to my organization
- I am recognized and at times, rewarded for my performance
- I get the freedom to express my view and opinion
- You can assist your top performers in designing their career plan in the next 1-2 years within the company. Given this, many organizations, these days, have introduced mentor-mentee programs.
- At times, you can introduce various employee engagement programs to make your top performers (along with other employees) feel connected to the organization. You can even go a step ahead in introducing various sponsor programs for their friends and families.
- Another good way for talent retention is to come up with a list of various motivating factors for every employee you are planning to retain. Monetary motivation is always there. However, the significance of non-monetary motivating factors cannot be ignored, too. So, focus on getting insights into such non-monetary motivating factors having an impact on your top employees and use them to keep your top talent satisfied.
- Various reward and recognition programs are a sure-shot way for talent retention. Go for such programs on a frequent basis to keep your key talent and high performers.
- Pulse surveys are also gaining popularity nowadays to strike a chord with the workforce (Read top talent in your case). Here, you need to conduct email surveys on a periodic basis based on the sample of talent to get your organization’s pulse. It is a good way to identify various issues causing trouble for your workforce.
- If possible, shed bad managers. Remember that top performers do not prefer working with bad managers who are incapable of nurturing, motivating, supporting and encouraging team members. If you have anyone like this in your organization, it is time for you to take a serious call.