After engagement, retention is the top talent management concern in today's global economy. The true ROI of top talent isn't realized if that talent leaves. Add the significant cost of replacing talent to the loss of skills and institutional knowledge when top performers leave, and the importance of retention becomes even more manifest. These factors, coupled with the rapidly changing demographics of today's workforce as the Baby Boomer generation begins to leave in significant numbers and the Millenial generation makes its presence increasingly felt, demands that savvy leaders understand the dynamics of retaining talent and know how to manage talent with retention as a goal.
In October 2014, an article entitled, “Analytics Leaders Discuss New Trends,” recapped the discussions of a Talent Analytics Leadership Roundtable hosted by Northwestern University. Identified in these trends was the need to overhaul employee engagement measurement. Many organizations have moved from an annual measurement in favour of a continual one. I agree with that change because the engagement score is incredibly sensitive to when people answer the survey relative to such factors as recent business events and even the weather.Read more
To kick off 2015, the Human Capital Institute is featuring original content on talent mobility, and to re-familiarize myself with the topic I spent some time skimming through a colleague’s notes concerning contemporary research. Somewhere between a study citing only 36% of businesses have access to reliable data on top performers that were not included in succession plans and a blog post about how U.S. based companies are taking 25% more time to make a hire, I stumbled on a somewhat eye-popping statistic.Read more