from the Turning Good People Into Top Talent blog series
By Bob Moore, CMC, Managing Principal, Talent Management Institute
What is Your Strategy for Decreasing Employee Turnover? Currently, this is a burning question circulating among hiring managers and talent management executives. Many surveys are discovering that the answer to this question is top-of-mind among business owners, CEOS and profit center executives. Most authorities agree that reducing turnover among top talent is a two-pronged strategy.
First, you must hire potential top talent. I believe hiring “good” people is the best you can do. Then, you must develop them into top talent after they are hired. Using an objective Job-Talent Fit process can assure you hire the best available at the time you need to make the decision.
Second, you must consistently work at increasing the level of engagement, which continues to be at an all-time low. Ongoing research and survey data conclude that the manager/team leader has the greatest influence on levels of engagement. It is estimated that only 10% of managers have the innate ability to lead a team of top talent. Yet, investments in team leader development remains low.
Your strategy must include an objective hiring process based on the requirements of the job and then, assess candidates based on how well they fit those requirements. Your strategy will be flawed unless you also include an on-going leadership development process of those meeting the selection criteria of the position.
Click on the button below and discover the resources available from the Talent Management Institute that will assure a sound strategy to increase engagement and reduce turnover of top talent.
Bob Moore, CMC