| Retaining top talent remains very high on today’s
executive agenda. Equally critical is the need to minimize the crippling effects that key
talent departures have on organizations, especially those that rest much of their success
on these high output, unique talents. Yet very few firms create and follow through on a
retention strategy that really makes a difference. Why is this? And how can organizations
"crack the code" on talent retention? Based on recent interviews with a
several executives in firms with outstanding reputations for sales force management and
retention, there are several ingredients that, when effectively blended, result in an
environment where the very best talent thrives. They raise their own performance bar,
often feeling a symbiotic relationship with the organization, and are less likely to
abandon ship. Key ingredients in the retention of top talent cited by these executives in
the know include:
- Climate focused on talent development
- Broadened manager bandwidth
- Effective General Manager
- Well-developed retention strategy
- Effective orientation & on- boarding
Climate Focused on Talent Development
"I pull my sales team together for just about every morning to discuss briefly
what took place the day before. We often cover highlights and lowlights, recognize
combined contributions and review what we need to do better. We refer to these sessions as
our morning huddle. When we break, people are pumped to reinforce our customer-focused
atmosphere." Comments such as these define the benefit of a work climate that focuses
on individual and team development. They don’t just talk about it, they live it!
Retention is typically very high in organizations where climate supports individual
development, recognition for contributions, and encouragement to perform.
Broadened Manager Bandwidth
Companies that enable managers, through a variety of means, to identify individual
needs and respond with a portfolio of styles typically achieve significantly higher levels
of retention. One size does not fit all! Top performers need to be treated as exceptions,
because they are indeed exceptions. If managers over rely on their most comfortable style,
they’re bound to miss the mark on many occasions. It’s interesting to note that
in cases where managers have the capacity to respond with a number of styles, the total
team benefits.
Effective General Manager
The factor that seems to have the greatest influence on retention of key talent is the
effectiveness of the General Manager in creating and maintaining a high performance
climate. One Executive VP commented that her most promising General Manager has a
deep-seated need to raise the bar for each employee just enough so they feel truly
stretched all the time. Her leadership cascades down the organization to every contributor
to the point where individuals choose to raise their own bars. The signal here is for
organizations to both unleash managerial capacity and invest in development so managers
can realize extended capabilities.
Well Developed Retention Strategy
Some organizations have actually created "Offices of Retention" to elevate
the challenge to a higher level. Often a very senior executive is accountable to the CEO
for shepherding retention-related efforts and takes the lead. Even without this level of
focus, many organizations see significant retention progress with well developed and
communicated retention goals and objectives for the entire organization.
Effective Orientation and On-Boarding
"By my third week with the company I felt totally connected and ready to do
battle! By my second month I realized that everything I was told on the way in was
accurate. Now, three years into my relationship with the firm I realize that a solid
beginning was a key reason for staying." Comments like these are common in
organizations recognizing that effective induction, orientation, and on-boarding have a
huge impact on retention. Yet, very few firms treat these early phases with the attention
they deserve. This impact is magnified for top talent.
A Final Observation on "Cracking the Code"
Organizations should remain in close contact with top talent, being careful to consider
adopting retention practices that are truly desirable, and can be effectively managed. Too
often firms select more initiatives than they can handle, and more than they need. Firms
that have achieved their desired levels of top gun retention know all too well that just
around the corner is another lure tempting their most prized possessions.
By Sheryl Dawson
CEO
Dawson Consulting Group |
Top Gun Retention