Ask any CEO or CHRO if they have a process for retaining and developing talent and they’ll quickly answer in the affirmative. They will immediately talk about the quality of their talent initiatives, the number of critical talent and high-potentials identified.
However When examining talent in any organisation it may help explore the culture, not the rhetoric – look at the results, not the commentary about?the potential. Despite perspectives shared, ground level feedback is that more than 70% don’t feel appreciated or valued by their employer, more than 40% don’t respect the person they report to and more than 30% believe they’ll be working somewhere else within 12 months.
So, for all those employers who?believe or who make believe that they have all under control in the area of talent, It may be a good idea to think again.?
It is a well known fact that Employees don’t quit working for companies, they quit working for their bosses and whether the bosses want to believe this is true or not, there is enough evidence to prove this fact. Regardless of tenure, position, title, etc., employees who voluntarily leave, generally do so out of some type of perceived disconnect normally with leadership.
The simple fact is that employees who are challenged, engaged, valued, and rewarded rarely leave, and more importantly, they perform at very high levels. However if you miss any of these critical areas, it’s only a matter of time until they head for the elevator. Following are some reasons our talent will leave us. Smart leaders don’t normally make these mistakes:
- Failing to Let Talent have a Voice: Talented people sometimes come across with unique, out of the box thoughts, ideas, insights, and observations. If you don’t listen to them, I guarantee you someone else will.
- Failing to Recognise Contributions: Leaders don’t take credit for the successes of the Individual or the team – they give it. Failing to recognise the contributions of others is not only arrogant and lacking generosity but it’s insulting the individual and is as good as asking them to leave the organisation.
- Failing to keep Commitments made: If you break trust with those you lead you will pay a very steep price. Leaders not accountable?to?their people, will eventually be held accountable?by their people.
- Failing To Unleash Their Passion: Human nature makes it very difficult to walk away from areas of passion. Fail to understand this and you’ll unknowingly be encouraging employees to seek their passions elsewhere.
- Failing To Challenge Their Intellect: Smart people tend to get bored pretty fast. If you don’t challenge people’s minds, they’ll leave you for someone/someplace that will.
- Failing To Engage Their Creativity: Some talent are tuned to improve, enhance, and add value all the while. They are built to change and innovate. They?need?to contribute by getting involved and being there on the floor. Smart leaders free Talent from boxes. What’s the use in having a racehorse if you don’t let them run?
- Failing To Develop Their Skills:?Leadership isn’t a destination – it’s a journey. No matter how smart or talented a person is, there’s always room for growth, development, and continued maturation. If you place restrictions on a person’s ability to grow, they are sure to leave you for someone who won’t do that to them.
- Failing to Care: People come to work for a salary, but that’s not the only reason. In fact, many studies show it’s not even the most important reason. If you fail to care about people at a human /emotional level, they’ll eventually leave you regardless of how much you pay them.
- Failing to Lead: The best testament to assess the value of leadership is when leaders are absent. If you fail to lead, your talent will seek leadership elsewhere
- Failing to Increase Responsibility: You cannot control or confine talent. If you do so, you will either degenerate into mediocrity, or force your talent to seek more fertile ground. People will gladly accept a huge workload as long as an increase in responsibility comes along with appreciation and recognition.
I am sure you too have had your own share of experiences.
Executive Coach | MBA Professor | Ex-Global CFO
6 个月Impressive insights on talent retention and leadership development. Addressing the root issues is key.
Executive Director | HR Advisor, Coach & Mentor | Board Member | Angel Investor
6 个月Hi Dr. Anuraag Rai , PhD, MGSCC,CTPC. Thank you for adding value here. I tend to agree on the fact that external talent tends to get a greater advantage than internal talent. However I see that this is gradually changing within lots of organisations. Employers I know are targeting 70% of internal hiring. If we want to bring a change in corporate and our societies we have to continue to speak about these undesirable behaviours so that somewhere these workplaces are a lot more authentic and have enlightened leadership at the helm.
C - Suite Leadership Consultant- Help Leaders Raise , Effectiveness & Employability
6 个月Strangely Clifford this problem is on table for many years and i am unsure if any one could discover perfect recipe to fix this challenge. It has some role organization mindset on make vs buy , wherein internal talent is not considered for role change/ advancement often. Additionally, this has lot to do with external opportunities, when economy booming and headhunters doing there job well in seducing What's distinctly coming out is , now it's time that individuals have to be ": encouraged" to lead their career priority and aspirations with respective managers and system has to be developed to be agile / responsive to attend such requests. This means all individuals ocuppying leadership role has to engage and participate in retention and growth. Most ironic part is individuals avoid expressing and managers have no time and then mishap ; easy scape goat - it's HR problem. To my mind each organization has to evaluate risk and identify positions , role holders , BKTs and then be engaged with them to cocreate there future in conventional/ unorthodox way whichever is suited to business. What's pivtol in this journey is collective -action and ownership...
Senior Analyst at Rio Tinto
6 个月Very meticulously explained Sir. Thanks for sharing
Management Consulting Manager | CFO Advisory
6 个月Clifford Mohan Pai GPHR, PCC Sir Wow !! What a topic you chose and the points you picked in is just on the mark !! I cannot agree more !! Talent Management Process definitely holds a place in developing a team but what it does’t guarantee the retention even if you put a plan for your Top Talent . The pointers which would help shift the gear are smaller initiatives and milestone i.e you covered very well ?? - Do Small , Create Big Positive Impact ! Focus on Behaviour Change, Shape people with empowerment, empathy, Servant Leadership and create everlasting impression ! ??