from the Turning Good People Into Top Talent blog series
By Bob Moore, CMC, Managing Principal, Talent Management Institute
Optimization is related to level of engagement which is linked to retention. My last message included recent discoveries from Insync Surveys, “Why People Stay: How to Keep Your Best Employees” which validates the ten elements of the Total Talent Management System™ (TTMS). Here is additional Insync Survey research which are significant influences on employee engagement and retention, and directly correlates to four elements of theTTMS:
Inspiring Values Driven Leadership
Organizations that have clear values which are demonstrated in practice, and expect the organization’s values and behaviors to be demonstrated every day, are more likely to retain top talent. Employees are more likely to stay when the senior leadership team has an inspiring vision, encourages innovation, are good role models, and act with integrity. Senior leaders set the tone for the whole organization which influences employees’ about whether the organization is right for them in the long term.
Pride and Advocacy, and Performance Focus
According to the survey, items highly correlated with retention include being willing to recommend the organization as a workplace to others, being proud of working for the organization, and having a strong sense of belonging. Employees are more likely to stay when they consider their organization to be high performing and well run. Items highly correlated with retention include belief that the organization is committed to employees. This validates the importance of the relationship between employees and their manager/team leader.
The following elements of the Total Talent Management System™ directly relate to these research findings:
Developing Top Talent
Full engagement and high achievement are the results of mastering personal strengths and people skills, and supported by mentoring and coaching. Coaching and continuously guiding a personal development plan to close the gaps between the individual’s talents and the job requirements are the manager’s responsibility.
Optimizing Top Talent Performance
Performance management must be an ongoing, real-time process between manager/team leader and employees. It is not something that is “just done” during the typical annual performance appraisal.
Recognizing, Rewarding and Compensating Top Talent
As long as employees feel they are paid competitively, money is not the main factor that influences engagement, satisfaction, performance and retention. Ultimately, most people are motivated more by the work they do, the environment in which they work, management effectiveness, and the authentic recognition they receive.
Retaining Top Talent
Many studies indicate that employees typical quit their manager and not the organization. Organizations can significantly reduce undesirable and preventable turnover by implementing leadership best practices which include: casting a vison, assuring strategic alignment and championing execution, which we call the “Work of Leaders”.
The Work of Leaders Process
The Talent Management Institute provides resources including the Work of Leaders process that can accelerate your progress toward developing teams of fully engaged top talent.
Click the button below to learn more about Work of Leaders.
Bob Moore, CMC