Retaining talented workers - Essay Example

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Each company should work towards ensuring that its human resources are given the appropriate motivation and environment that enables them to produce the best results for the company (Cardy & Legnick,…
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Retaining talented workers Retaining talented workers The work force is one of the most important elements of any organization. Each company should work towards ensuring that its human resources are given the appropriate motivation and environment that enables them to produce the best results for the company (Cardy & Legnick, 2011). Human resource departments all over the world are constantly innovating new ways to satisfy the employees as the recruitment process is time consuming and does not always yield the best results. Hence, many companies frenetically strategize new methods for talent retention which are frequently unsuccessful. The current economic crisis also increases the probability of talented employees moving to bigger and more established companies. This paper will assess different ways of employee retention and reduction in the turnover over talented professional.
In specialized professions such as engineering which have a demand; employers have to ensure that their employees are given a well structured career path and the ability to advance in their role both for the company and their personal growth. Many employees often leave when they feel they do not have the possibility to reach higher standards both financially and professionally as they are often kept stagnant in their career. Talented employees are always looking to improve their role and financial position hence, the first aspect that can be implemented involves bonuses depending on the duration which one has been employment. Money may not be the central motivation for all employees; however, it also has a role to play in keeping the employees satisfied.
A survey was carried out among middle aged managers to assess the different factors which determine whether they stay or leave company. The following factors were found to be the most relevant: challenging and interesting work, ability to meet personal commitments, good relations with the owners, good culture and values and the opportunity for career development. Career planning is an aspect which the organization can use to help an individual remain with the company and at the same time improve his professional status.
One of the main focuses of career planning is to aid employees and enable them to match their personal aspirations to what the company can realistically offer them. One way to do this is by facilitating career growth through assisted education. This enables the employee to increase his qualifications throughout his or her career and hence enables him or her to occupy higher posts within the company. The company benefits both from the higher leve of qualification of the employee and the loyalty attained from this person.
Another way is to facilitate for employees to occupy leadership roles as their careers progress. Since there are not enough higher posts for each employee to occupy, the company must innovate ways to offer employees some psychological success. This aspect as mentioned above can be achieved by monetary rewards or by the reduction in the number of working hours for the same salary. Companies such as SAS Institute, which has a turnover of just 2%, utilize means of employee motivation through creation of a friendly working environment and the offer of benefits for loyal employees (Cardy & Legnick, 2011).
Cardy, R. L., & Lengnick-Hall, M. L. (2011). Will they stay or will they go? Exploring a
customer-oriented approach to employee retention. Journal of Business and Psychology, 26(2), 213-217. Read More
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