Retaining Your Top Talent

from the Turning Good People Into Top Talent blog series
By Bob Moore, CMC, Managing Principal, Talent Management Institute

 

employee right fit

Recently, the Talent Management Institute released the newly developed Total Talent Management System™ (TTMS), which has ten interconnected elements.  The latest research from Insync Surveys, “Why People Stay:  How to Keep Your Best Employees” validates a number of these elements.

According to Nicholas Barnett, Insync Surveys’ CEO, their research discovered that one of the solutions to the retention challenge is job fulfilment and growth.  Barnett says, “Offer meaningful work via mechanisms such as job fit, mission alignment, role clarity, job enrichment, personal development and career progression.  Employees are more likely to stay when they enjoy their work, are satisfied with their jobs, are able to fully use their skills and talents and perceive that their organization has effective plans for developing and retaining its people.”

To accomplish this, the Talent Management Institute recommends the following elements of the Total Talent Management System™:

Attracting and Screening Top Talent
The Job-Talent Fit™ process is the core element of the Total Talent Management System™. The process begins with the Position Talent Model™ which includes creating a job benchmark by clarifying the reasons the job exists.  The job benchmark must be the baseline—not the assessment of incumbents who may be considered top performers.

Selecting Top Talent
The final step of the Job-Talent Fit™ process includes the Candidate Talent Model™ which compares how well candidates fit the talent requirements of the position.  The job benchmark, above, becomes the basis for comparison of each individual candidate’s talent assessment with the job.

Orientation and Onboarding Talent
Be aware that new employees want to learn “how things get done around here,” which can include information about the organization’s mission, vision, and values along with specific information about their specific job. Including the manager/team leader establishes his/her role in following up and linking to performance expectations and continuous learning.

Developing Top Talent
Keep in mind that the best an organization can expect from any selection process is to identify the most talented (good) candidates which are available at the time the position needs to be filled.  The gaps identified in the job-talent fit process are the basis for creating a personal development plan.

Optimizing Top Talent Performance
Performance management is an ongoing, real-time engagement process between manager/team leader and employees.  It is not something that is “just done” during the typical annual performance appraisal which many organizations have abandoned because of the limited value they provide.

Recognizing, Rewarding and Compensating Top Talent
Many people may be initially motivated by money. However, many studies have confirmed that as long as employees are paid competitively, money is not the main factor that influences engagement, satisfaction, performance and retention.

The Next Issue of Turning Your Good People Into Top Talent . . .
will include the other findings of the latest research from Insync Surveys.  In the meantime, click the button below to learn more about the Total Talent Management System™.

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