Last month, the New York Times reported that the jobless rate in the U.S. is the lowest in 5 years. Manpower ran a recent online poll of nearly 900 workers that found 83% are actively looking for a new position and another 9% percent are networking to see what is available. That adds up to 92% of respondents on the move. Add these factors to LinkedIn becoming such a powerful passive recruiting tool, and the situation adds up to a wake-up call for leaders looking to grow. Put employee retention on the top of the strategic agenda at your very next management meeting.
If your top talent--the ones who watch your back and who can run with any ball you toss their way--is leaving (or at risk of leaving), you had better figure out why. You need to put a stop to the brain drain. Not only can your organization lose momentum as you try to fill the gaps, but it also risks failure without those key folks.
Ask yourself:
- Do we have right talent management processes and systems in place to predict, track and minimize turnover in the next 12 months?
- Have we uncovered the critical few employee engagement weak spots for our most important jobs and top talent groups?
- Have we clearly identified our key talent and conducted "stay" interviews with them recently?
Historically, the beginning of the year (this month and next) is the most common time for organizations to hire...they need to fill positions for new budgets that become available in January and employees are also more open to make changes at this time.
The bottom line: Act now so you don't risk losing your top talent. Do not wait to get the engagement and retention discussion started with your leadership team.
Read more about engaging and retaining top talent...
About LSA Global
Founded in 1995, LSA Global is a leading performance consulting and training firm that helps high growth technology, services, and life-science companies create a competitive advantage by powerfully aligning their culture and talent with their strategy. Learn more about getting aligned
