Proactive Approach Essential to Avoid Loss of Top Talent

Retention levels have largely remained steady in recent years, as the economy suffered and unemployment soared. But as the job market recovers, many employees are considering making a job change and employers are becoming worried about retaining top talent.

While employers have been preoccupied by their financial challenges, many employees have grown dissatisfied in the past couple of years. Companies need to adjust their priorities to focus again on employee satisfaction and engagement, or risk losing valuable employees.

Helping employees advance in their careers is a savvy way to both maximize and retain the talent you have. As employees learn more, they can move up in your company and become even more valuable assets. Plus, supporting advancement and learning opportunities fosters improved employee satisfaction and engagement with the company, making employees more likely to stay.

Employers need to find out what employees want and where they are dissatisfied, and the immediate manager plays a key role in this vital communication strategy.

Managers should have ongoing conversations with their employees, to find out their career and life ambitions, and explore how the company can help employees meet those goals.

These discussions should include both short- and long-term goals, plus an action plan to cultivate that development.

Companies also should review their current growth and advancement opportunities, and look for ways to add to or improve these important offerings.