‘Communication is imperative, and is a major key to retaining top talent’
Connected divisional managers and team leaders recognize when their most gifted workers are signifying a wish to move on, or take on considerably more responsibility – widening the scope of their current roles, considering potential divisional transfers, small promotions, etc.
As we know, high performing employees do not stay in one firm for too long when they do not feel they are getting the recognition, respect, and promotions they believe are so richly deserved.
Personally, I feel that the difference between an effective, connected leader and an ineffective leader is the willingness to make time to uncover what is going on swiftly. This, of course, precipitates setting up the one-on-one ‘catch up’ chats, also dubbed as ‘Stay Interviews’.
Once valued employees give their notice, it is most often too late to salvage the employment relationship, since, from an emotional and psychological perspective, these employees have ‘already left’ their roles and employer behind.
Exit interviews are not greatly valued for the above reasons and the knowledge that the verbal content of these meetings are just ‘hindsight’ discussions. However, these meetings are also intended to ‘leave the door open’ for those that are at the top of their game and show the most promise.
It makes sense then to communicate effectively and consistently with your teams and to also add and conduct ‘stay interviews’ on a regular basis, with particular emphasis placed on your top talent, and the next-in-line, most promising performers.
Want to read more on talent retention strategies? If so, please continue on to read my next article on Preventing Future Departures of your Top Talent.