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Retaining Top Talent
Organizations will always have some employees who are overachievers or “A” players. Thus, it becomes important for HR managers and professionals to retain their top talent. Many organizations mainly focus their efforts on developing their bottom 10% of employees instead of focusing on retaining their top 10% of employees. Some managers provide incentives such as merit pay for their top employees but at times that is not sufficient. For some employees, pay is not a significant factor when evaluating job satisfaction levels. For others, pay is a significant factor when evaluating job satisfaction levels. Nevertheless, when dealing with top talent, it is important to focus efforts on re-recruiting this elite group, re-engaging this unique group, and re-energizing this vital group. As mentioned above, re-recruiting is a strategic HR process that identifies top performers so that management can engage them in a conversation about their needs and desires, and then entice them to recommit to the company in the same way they were persuaded to join it in the first place. Re-engagement is the act of getting employees to feel connected to, and enthusiastic about their jobs. Employees are more likely to feel engaged when they have a solid relationship with managers and a belief in leaders. Re-energizing employees is a strategic process that provides a meaningful purpose for one’s service and dedication to an organization. This process rejuvenates employees from a physical, emotional, mental, and spiritual perspective. The following figure illustrates the three mechanisms for retaining top talent
Assignment
Discuss specific strategies for retaining top talent. Of the three mechanisms, which is the most important? Justify your response. Which strategies have you used in the workforce? If you were to create your own model for retaining top talent, what would it look like? Explain in detail your model and why it is more effective than the model mentioned in this module.
SLP Assignment Expectations
Your paper should be short (2-3 pages, not including the cover sheet, and references) and to the point. You are expected to deal with these issues in an integrated fashion, rather than treating them as a series of individual questions to be answered one by one and left at that.
