Hiring amazing talent is hard. You spend countless hours doing everything you can to attract employees and not only sell them on the role they’re going to be performing, but also the company they’re going to be working for.
But lately a new challenge has become very apparent for any company attempting to attract top talent—poaching. The question many companies are now asking is, “How do we retain the talent we have?”
In a recent blog post, “IT Unemployment Levels Low, Poaching Stakes High,” Susan Hall says, “And while young workers especially are looking for opportunities to learn new skills, a recent study comparing government workers age 20-29 with those age 50-59 found the two groups similar in wanting managers invested in their development. So if you’re a manager who can’t offer more money, training might be the lure to keep your staff invested in your company. Or flexibility.”
Providing employees with opportunities to beef up their skill sets while knowing they’re on track for future promotions is imperative. It’s every company’s job to make sure that:
- Goals are clearly defined and cascaded from the top down to employees
- Appraisals are tied to business performance
- Reviews are not static, stand-alone and historical, but rather ongoing and purposeful
Having a solid performance management program is what will help you retain and grow your top talent. Developing your performance management program takes time and experience.