Attracting and Retaining Your Top Talent

Talent management is not as simple as it sounds. One might think it’s all about finding the best person to fill a job opening. But it goes much deeper than that, touching the entire employee life cycle. It requires long-term talent review, development and success-planning processes to drive retention. As globalization and ‘war for talent’ have increased the need to retain good performers, talent management has become more crucial than ever for organizations.

Despite its growing importance, talent management has two challenges to face. The first, of course, is finding the right talent to fit in to the job description. The second is about retaining the existing employees. People change jobs for reasons such as unhealthy working atmosphere, better opportunities, good compensation package, gap between the organizational goals and personal goals among others.

As Harvard Business Review observed, rather than spending billions to acquire talent, a better approach is investing in the talent that’s already in place. According to a recent Mckinsey research, high performers in any organization are up to eight times more productive than the average ones. However, most organizations do not know how to recognize and retain them.

A company’s ability to hold on to its top talent — especially in tight hiring markets — has huge implications on its ability to operate at a high level.

In this session, our panel of experts spoke about the strategies, tips and hacks organizations have implemented to hire and retain top talent.