How to retain your talent

Friday December 5, 2008
How to retain your talent

Psychological factors are as important as financial remuneration
IT’S interesting that when the topic of staff/talent retention is discussed, the talk inevitably tends to focus on financial renumeration. Yet research seems to indicate that psychological factors are just as important as money.
A survey by Gallup among organisations in the Asia-Pacific found that worker engagement levels are a key predictor of staff retention. Worker engagement can be loosely defined as how connected a staff feels with the organisation.
One could argue that the opposite of engagement is “alienation from work”, which was a concept Karl Marx introduced when he was describing how workers during the industrial revolution were robbed of their ownership and meaning.
What is engagement and how do we measure it?
Gallup developed a set of 12 questions that capture the essence of employee engagement and in my opinion, are immensely useful as a guide for managers who are looking at practical ways to retain their top talent:
Top talent, who are also self-motivated individuals, enjoy being part of a team that is filled with individuals who demonstrate the same level of commitment.
 Do you know what is expected of you at work?
This is linked to the need for clarity. Employees need to be clear about expectations, targets, standards, goals and other key performance indicators. We retain our talent when the organisational culture encourages clear and transparent communication about what we expect of our people.
 Do you have the materials and equipment you need to do your work right?
This is linked to the concept of enabling. “Give the workman his tools” goes the saying.
 At work, do you have the opportunity to do what you do best every day?
The key is to match talents to job scope. People enjoy doing what they do best. If our staff feel that their talents are not being utilised and developed, they will start to look for alternatives elsewhere.
 In the last seven days, have you received recognition or praise for doing good work?
A culture of recognition breeds a sense of pride and fulfilment. Praise should be genuine and spontaneous rather than superficial and contrived. When someone does something well, recognise them.
 At work, do your opinions seem to count?
Top talent have no shortage of ideas on how to improve the organisation. Some are good and some may not be practical. Most staff don’t expect management to implement every idea raised. The point though is that talent must feel that management is open and willing to listen.
 Does the mission/purpose of your company make you feel your job is important?
It is important to help our staff link their job scope with the vision and mission of the organisation as a whole. People need to feel significant, in that they have a role to play in the larger scheme of things. All of us need to feel like we matter. The opposite of this is when staff feel that their job is meaningless and insignificant.
 Are your associates (fellow employees) committed to doing quality work?
Top talent, who are often self-motivated individuals, enjoy being part of a team that is filled with individuals who demonstrate the same levels of commitment. Successful people want to work in a performance-driven organisation.
 Does your supervisor, or someone at work, seem to care about you as a person?
When bosses show that we care just as much about the person as we do their productivity, we reinforce the philosophy that the organisation puts people first. This helps build a level of loyalty towards both the organisation and the immediate superior.
 Do you have a best friend at work?
It may sound trivial but it’s true. Many employees stay at an organisation because they have developed close friendships there. Therefore, it’s worthwhile investing in activities and space that enable regular social interaction among staff.
 In the last six months, has someone at work talked to you about your progress?
Top talent will be willing to accept constructive criticism as long as it is fair, accurate and delivered with the intention of helping rather than punishing. Some managers make the mistake of being less than transparent and forthcoming in their performance reviews because they fear that staff may not take kindly to any criticism. The point is that without constructive criticism, staff cannot develop and progress.
 Is there someone at work who encourages your development?
 In the last year, have you had opportunities at work to learn and grow?
The final two questions both relate to talent development. If organisations are serious about retaining their top talent, they need to move away from ad hoc training programmes to cohesive and integrated development programmes that lead to genuine growth. Nothing drives away staff quicker than a sense of stagnancy.
 Dr Goh Chee Leong is the vice-president of HELP University College and a psychologist who believes that too many people in the “rat race” are so concerned about “speed” that they’ve not stopped to think about “direction”.