Today, the person who works ten or more years for the same company is a rarity. This is especially true of talented managers and workers, for these individuals find nothing at all wrong with...

1. 24th
March 2010
How do you Attract, Retain
and Manage Talent?
Imran Zaman @ DAYWATCHER.COM
1 © Copyright Imran Zaman, DAYWATCHER.COM 2009-13. All rights reserved.

2. How do you Attract, Retain and Manage Talent?
In the past, it was taken for granted that people hired would work for decades
and then retire from their company. Yet that is no longer the case. Today, the
person who works ten or more years for the same company is a rarity. This is
especially true of talented managers and workers, for these individuals find
nothing at all wrong with working one year here and one year there as they
attempt to advance their careers. It is a great loss to see talented people go
from a company, and even in down economies workers are unafraid to leave a
job for what they think are greener pastures.
Fortunately, all is not lost for those companies who want to keep their most
skilled and talented workers with them for years to come. There are many
strategies for attracting, retaining, and managing talent in today’s down
economy, and the following are just a few ways companies can keep their best
people on board.
PROVIDE COMPETITIVE BENEFITS
In ordinary economic times, benefits are not always the chief consideration for
job-seekers. During shaky economic situations, competitive benefits are far
more important to workers. Companies unwilling to match or at least
approximate the salaries offered elsewhere are quite likely going to lose their
best talent to their better-paying competitors. Besides salary, potential or
current employees also weigh holiday time, life insurance, retirement plans, and
more when looking for a job. It is wise for internal HR departments to keep a
close eye on the benefits that competitors are paying and adjust what they offer
accordingly.
OFFER REGULAR PROMOTION OPPORTUNITIES
Some talented employees leave one organisation for another because the new
job allows them to advance. Having too many dead-end positions filled by gifted
workers is a quick way to lose those employees when opportunities to advance
at other companies arise. Attracting and retaining top talent requires companies
to offer many ways employees can continue to rise to the top. Offering
promotions to current employees first before searching for workers outside the
company will also help keep talent around longer.
GIVE OPPORTUNITIES FOR CAREER ADVANCEMENT
Skilled employees are looking for ways to better themselves through better
education and training, and businesses can attract and retain the best talent if
2 © Copyright Imran Zaman, DAYWATCHER.COM 2009-13. All rights reserved.

3. How do you Attract, Retain and Manage Talent?
they help their employees improve their skills. Sending employees to training
courses on a regular basis and providing tuition reimbursement will attract good
workers and keep them around for years to come.
VALUE EMPLOYEE INPUT
Employee morale is low when workers in a company feel as if upper
management never listens to them. Organisations should try to involve
subordinates in decision-making as much as possible and make changes based
on their input when feasible. Employees who feel like they have a say in running
a company have a better reason to stick around than those who do not have any
such say.
AIM FOR DIVERSITY
Younger workers are especially looking for a diverse workplace because of their
experience growing up in a diverse world. Having people from a variety of
different backgrounds will attract young talented workers.
These are just some of the many ways companies can attract, retain, and
manage talent in today’s down economy. Companies who follow them and ask
their workers what they want will keep their best talent for years to come.
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Thanks,
Imran Zaman.
Editor | DAYWATCHER.COM - The Business & Technology Blog
Email: imran.zaman@daywatcher.com| Web: http://www.daywatcher.com
Twitter: http://twitter.com/daywatcherblog | LinkedIn: http://linkedin.com/in/izaman
3 © Copyright Imran Zaman, DAYWATCHER.COM 2009-13. All rights reserved.