Most employees thrive in an environment where their career development is nurtured and supported, where their accomplishments are recognized and rewarded.
In fact, a new study shows that this is a leading factor in the decisions that new graduates make about where to start their careers, and it also influences where talented employees end up. In a large corporation, it can be all too easy for even the most promising employees to get lost in the crowd.
Forbes Magazine recently published an article about why large companies tend to have a large problem with talent retention. What are the reasons?
According to Eric Jackson:
1. Big Company Bureaucracy.
2. Failing to Find a Project for the Talent that Ignites Their Passion.
3. Poor Annual Performance Reviews.
4. No Discussion Around Career Development.
5. Shifting Whims / Strategic Priorities.
6. Lack of Accountability and/or Telling Them How to Do Their Jobs.
7. Top Talent Likes Other Top Talent.
8. The Missing Vision Thing.
9. Lack of Open-Mindedness.
10. Who’s the Boss?
This is a long laundry list of problems that lead to talent retention issues. But the bottom line in this article is the lack of support and the lack of career development opportunities which may encourage talented employees to continue their careers elsewhere.
Improve your Talent Retention Prospects
1. Greet your employees in a friendly manner every day.
2. Provide interesting and diverse employee training. From online personality tests to courses in being more assertive to team-building, your employees are hungry for dynamic career development opportunities.
3. Participate in leadership training to learn how to better manage your employees and help them learn to navigate the problems they are experiencing each day in the workplace.
4. Regularly discuss employee progress and recognize employee achievement.
5. Slow down and create a community that works together towards increased effectiveness and innovation.