Develop an Effective Talent Retention Strategy
Take preventative measures to ensure your talent doesn’t walk out the door.
With the business environment increasing in complexity, and the looming critical skills shortage, organizations must improve their ability to retain top performing individuals to remain competitive.
Very few organizations implement a holistic retention strategy based on integrated data from multiple sources. Instead organizations tend to rely more on ad hoc, flavor-of-the-month solutions.
It is challenging to integrate the data necessary to develop a comprehensive, unbiased retention strategy as the data is often stored in multiple formats, databases, and categorizations.
A truly effective retention strategy requires the integration of different data sources to create an action plan that is unique and honed to address the organization’s challenges.
Make a more compelling case for talent retention using evidence-based reasoning rooted in thorough data analysis.
Retention is often approached as an HR issue. In reality, it must be a partnership between HR and the executive and management teams.
Even if the organization is not experiencing a skills shortage, it is important to implement a talent retention strategy. High turnover can have substantial and often unexpected costs even when there is a line of individuals waiting to fill empty positions.