Top 10 Things Top Talent Want/Need ...
Or to put it another way ... Top Ten Reasons Why Companies Fail To Keep Their Best Talent
1. Positive: A voice in the process
Negative: Big company bureaucracy. No one likes rules that make no sense. But, when top talent is complaining along these lines, it's usually a sign that they didn't feel as if they had a say in these rules. They were simply told to follow along and get with the program. No voice in the process and really talented people say "check please."
2. Positive: Be a part of something big of which they are passionate
Negative: Failing to find a project for the talent that ignites their passion.
Big companies have many moving parts, by definition. Therefore, they usually don't have people going around to their best and brightest asking them if they're enjoying their current projects or if they want to work on something new that they're really interested in which would help the company. Top talent isn't driven by money and power, but by the opportunity to be a part of something huge, that will change the world, and for which they are really passionate. Big companies usually never spend the time to figure this out with those people.
3. Positive: Productive feedback on an annual basis
Negative: Poor annual performance reviews.
You would be amazed at how many companies do not do a very effective job at annual performance reviews. Or, if they have them, they are rushed through, with a form quickly filled out and sent off to HR, and back to real work. The impression this leaves with the employee is that my boss - and, therefore, the company - isn't really interested in my long-term future here. If you're talented enough, why stay? This one leads into #4....
4. Positive: A plan for their future in the company
Negative: No discussion around career development.
Here's a secret for most bosses: most employees don't know what they'll be doing in 5 years. In our experience, about less than 5% of people could tell you if you asked. However, everyone wants to have a discussion with you about their future. Most bosses never engage with their employees about where they want to go in their careers, even the top talent. This
represents a huge opportunity for you and your organization if you do bring it up. Our best clients have separate annual discussions with their employees, apart from their annual or bi-annual performance review meetings, to discuss succession planning or career development. If your best people know that you think there's a path for them going forward, they'll be more likely to hang around.
5. Positive: Their projects are vital to the strategic plan
Negative: Shifting whims/strategic priorities.
The challenge for most organizations is not setting up a strategic priority, like establishing an incubator, but sticking with it a year or two from now. If you commit to a project that your top talent will be heading up, then give them enough opportunity to deliver what they've promised.
Tomorrow: Reasons 6 - 10
Source: Eric Jackson, Contributor to Forbes 2012
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