5 Ways to Manage your Talent Potential _{5 February 2009}

With the current economic climate moving to one of increasing uncertainty, it is imperative that we hold onto and develop our best people. Retaining talent is one of the biggest challenges facing organisations today and yet two thirds of organisations have no way of identifying, developing, engaging or retaining their most valuable people. Many of us have limited budget and time to invest in keeping hold of the people we value the most. With the cost of recruitment soaring up to 66% of annual salary, surely this issue cannot be ignored any more?

“Although unleashing the potential of our best people is a challenge that many of us rise to, talent development remains a key issue that never quite makes it to the top of many peoples’ priority list”, comments Sally Rixon, Director of The Talent Pool.

She believes that there are 5 key ways to retain your top talent:

1. Ensure your people feel valued – an easy place to start is by telling them.
2. Ensure they find their job stimulating – you can do this by giving them new and interesting things to do.
3. Give them opportunities to develop and progress within your business – that will stop them looking outside the organisation.
4. Encourage loyalty – this can be achieved by helping them understand how the business is performing, the value that it brings to the community, and the wider business world.
5. Give them a breadth of knowledge that helps them understand that your business is a great place. Despite popular opinion, the grass isn’t always greener elsewhere!