Retention of your critical talent is one of the top talent management concern in today's global economy. The true ROI of top talent isn't realized if that talent leaves. Add the significant cost of replacing talent to the loss of skills and institutional knowledge when top performers leave, and the importance of retention becomes even more manifest. These factors, coupled with the rapidly changing demographics of today's workforce as the Baby Boomer generation begins to leave in significant numbers and the Millennial generation makes its presence increasingly felt, demand that savvy leaders understand the dynamics of retaining talent and know how to manage talent with retention as a goal.
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To kick off 2015, the Human Capital Institute is featuring original content on talent mobility, and to re-familiarize myself with the topic I spent some time skimming through a colleague’s notes concerning contemporary research. Somewhere between a study citing only 36% of businesses have access to reliable data on top performers that were not included in succession plans and a blog post about how U.S. based companies are taking 25% more time to make a hire, I stumbled on a somewhat eye-popping statistic.
In recent discussions with classes of undergrad business school students, I posed the question, “How many of you aspire to a professional leadership role in business, government, or other organization?” In each case, 100% of the students answered in the affirmative. I didn’t say so at the time, but two divergent thoughts were crossing my mind, pretty much simultaneously:
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A compelling, vibrant company culture can have a significant, positive impact on employee engagement, performance and overall profitability. The real challenge, however, is getting there. In this HCI Podcast, Mike Dallas, Senior Vice President of ...Read more
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