Talent
Management
Challenges & Retention
By: Alex Mendez
What is Talent?
 Talent can be described in many ways.
 There are four main factors in defining
talent in contemporary m...
What is Talent Management?
 Developing and integrating new workers
 Developing and retaining current workers
 Attractin...
How is Talent Management
Important?
 Sets a standard for a certain level of
quality
 Keeps skilled workers loyal and mot...
The War for Talent
 This was a phrase coined by Steven
Hankin in 1997 which refers to the
competitive environment of recr...
The War for Talent (HBR Article)
 Many top companies are struggling in the
war.
 18% of companies claim to be winning th...
The War for Talent (HBR Article)
 The war can be lost on ignorance.
 Keep talent-assessment systems on par
with company ...
Challenges
 A common theme for managers is poor
employee retention.
 Not enough effort spent in keeping
employees with t...
More Challenges
 A suffering economy only adds to the
trouble.
 As people become better-rounded, the
bar of talent quali...
Retention Challenges
 Employee retention always has room for
improvement.
 Other companies / job openings offer
higher s...
Tour of Duty
 The IT field can lend a lot of insight to
talent management
 There are several departments within IT, all
...
Benefits of “Tour of Duty”
 Lets employees try something different
 Helps a business maintain talented
individuals
 Giv...
Tips to Improve Retention
 First, it’s important to realize what makes
retention work. Companies need to
provide the foll...
Tips for Improving Retention
 If these factors are ignored, the talented
individual can find them elsewhere.
 Talented w...
Fast Tracking
 Fast tracking essentially takes high-
potential employees and puts them in
upper management as the years p...
Pitfalls of Fast Tracking
 Improper time spent in the department,
which leads to insufficient experience
 Employee may n...
Retention Systems (Walmart)
 Walmart has developed their own
retention system.
 Closely monitor and track top executives...
Retention Systems (IBM)
 Often, talent-management efforts are
difficult to measure and can take years to
play out
 Mike ...
Summary
 Talent Management is an ongoing
process.
 Talent requirements are becoming more
and more specific.
 Talent man...
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Alex mendez talent management

  1. 1. Talent Management Challenges & Retention By: Alex Mendez
  2. 2. What is Talent?  Talent can be described in many ways.  There are four main factors in defining talent in contemporary management:  High productivity  Multi-skilled  Self-motivated  Innovative
  3. 3. What is Talent Management?  Developing and integrating new workers  Developing and retaining current workers  Attracting skilled workers to work for the company
  4. 4. How is Talent Management Important?  Sets a standard for a certain level of quality  Keeps skilled workers loyal and motivated  Creates competition within departments to increase performance
  5. 5. The War for Talent  This was a phrase coined by Steven Hankin in 1997 which refers to the competitive environment of recruiting and retaining talented workers.  However, this war has just begun.
  6. 6. The War for Talent (HBR Article)  Many top companies are struggling in the war.  18% of companies claim to be winning the war for talent.  72% portrayed it as an endless struggle in which they were neither gaining nor losing ground.  10% declared that the war for talent was winding down in defeat for their enterprise.
  7. 7. The War for Talent (HBR Article)  The war can be lost on ignorance.  Keep talent-assessment systems on par with company priorities to help define talent.
  8. 8. Challenges  A common theme for managers is poor employee retention.  Not enough effort spent in keeping employees with the company.  Too many resources into attracting new employees.
  9. 9. More Challenges  A suffering economy only adds to the trouble.  As people become better-rounded, the bar of talent quality rises.  This makes job openings very specific and exclusive.
  10. 10. Retention Challenges  Employee retention always has room for improvement.  Other companies / job openings offer higher salary  Dead-end with no opportunities  Burnout
  11. 11. Tour of Duty  The IT field can lend a lot of insight to talent management  There are several departments within IT, all with varying responsibilities and expected skill sets.  Swapping high potential employees from department to department (6-12months) provides a new perspective (Tour of Duty)
  12. 12. Benefits of “Tour of Duty”  Lets employees try something different  Helps a business maintain talented individuals  Gives talented workers the benefits of a new job while keeping things familiar  Creates loyalty between individual and the company
  13. 13. Tips to Improve Retention  First, it’s important to realize what makes retention work. Companies need to provide the following:  Clear goals  Balanced work environment  Performance tracking  Fair evaluations  Proper compensation
  14. 14. Tips for Improving Retention  If these factors are ignored, the talented individual can find them elsewhere.  Talented workers need a reason to stay  Keep employees motivated  Reward them accordingly  Consider Fast tracking
  15. 15. Fast Tracking  Fast tracking essentially takes high- potential employees and puts them in upper management as the years progress  This is key to having talented individuals stay  However, there are pitfalls
  16. 16. Pitfalls of Fast Tracking  Improper time spent in the department, which leads to insufficient experience  Employee may not be able to lead effectively (can cause Domino effect)  New managers are introduced too frequently for certain projects to finish properly
  17. 17. Retention Systems (Walmart)  Walmart has developed their own retention system.  Closely monitor and track top executives  Reward those with high scores, discuss how to improve the ones with lower scores  Review and share data  This creates healthy competition to strive for high quality.
  18. 18. Retention Systems (IBM)  Often, talent-management efforts are difficult to measure and can take years to play out  Mike Markovits’ tracking system  Keeps track of career paths, assessments, and training  Easier to discover flaws and conversely, what works.
  19. 19. Summary  Talent Management is an ongoing process.  Talent requirements are becoming more and more specific.  Talent management systems such as Markovits’ and Cude’s creations can help improve talent management.

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