Talent Retention

Management of employee retention begins with the acceptance of hard reality that today it is not the company, which determines the movement of its employees but the market. In the sphere of IT age that provides easy access to information through Internet or otherwise, the company cannot insulate its employees from knowing about the attractive opportunities thrown open by the aggressive recruiters in the market. This firm reality calls for a new paradigm in managing retention. Instead of attempting to minimize migration, the management practices must aim at influencing those who would leave. Acceptance of the reality, thus, enables the management to develop a focused talent retention programme duly accompanied by an effective contingency plan for filling the prospective gaps in skills. An honest assessment of an organization’s need for a set of employees to remain with the company makes it clear as to which group should be handled with what concern for retaining them. Once this analysis is over and management is able to identify who are to be retained and for how long, it can customize their retention practices to encourage employees to stay loyal to the organisation.