Organizational Strategies in the Battle for Top Talent

The key for progressive planning is to develop an integrated people performance strategy that has multiple execution vehicles.

Organizational Strategies in the Battle for Top Talent
The key for progressive planning is to develop an integrated people performance strategy that has multiple execution vehicles. This includes an examination of attraction, retention and talent management.

Attraction
When organizations hire top talent, innovation and productivity are boosted to new levels. For experienced workers (Traditionalists and Baby Boomers), the key to attracting this skilled talent is to offer the relationship commitment these generations desire, such as part-time, job-sharing, and flex-time. For younger workers (Gen Xers and Gen Ys), attracting top talent means being able to paint a picture of a career in your organization that aligns with their career goals and expectations.

After attracting new employees, the next important relationship-building phase occurs during the first 12 weeks of orientation when employees decide if the company and job description are accurate. It is generally difficult for an organization to gain the psychological commitment of its employees, necessary for a long-term relationship, if it is not won in the first 12 weeks.

Retention
Organizations must have strong, clear strategies for retaining employees over the long term. Many studies show that “working with great people and having solid working relationships” is one of the key retention drivers. The cost of keeping managers not capable of building strong relationships is often greater than the benefit their technical knowl­-edge provides.

Talent Management
For all generations, learning and development opportunities will become an increasingly important aspect of their relationship with their employer. For Traditionalists and Baby Boomers, learning and development opportunities allow them to remain productive contributors throughout their careers. For Gen Xers and Gen Ys, an organization that provides opportunities to learn new marketable skills, while demonstrating clear career paths, will gain loyalty, motivation and commitment from their employees.

Organizational success hinges on the ability to attract and retain not only enough people, but also the right people. Only those organizations with the foresight to strategize and implement plans to be best-in-class now will be ahead of the competition when the battle for talent is at its height in four to seven years.

Source: n-Gen People Performance

Copyright © 2017 Transcontinental Media G.P.
Transcontinental Media G.P.