Introduction
Organisations are desirous of retaining star employees not minding whether those employees are actually happy with their job and the organisation. Decision to quit an organisation in most cases are products of many factors, these factors could be personal, organisational and environmentally induced. In reality, it is very hard to achieve 100% retention of key talents all the times but organizations can put in place measures capable of addressing avoidable exit of key talents.
Factors responsible for key talent exit.
Different people quit for different reasons. The following are some of the reasons while talented employees quit.
Lack of competitive pay
In today’s labour market, information as to the average pay for a particular role is just a click away. Star employees are going to leave your organisation if the pay gap is wide enough to be seen as being cheap. Most star employees are only holding on to the present role in search of a better alternative in a situation where their current pay is below the industry average. To retain your talented employees you must pay them well.
Lack of appreciation
Human being by nature value appreciation for a job well done. Some organisations are notorious for overlooking great efforts from dedicated employees but are quick at rolling out sanctions at every given opportunity. Excellent performance should never go unappreciated.
Lack of opportunity for advancement
Organisations that are not deliberate about growing talents from within to fill key positions are usually prone to exit of talented employees due to the perceived lack of opportunities for advancement. As long as talented employees have nothing to look up to in terms of advancement opportunities; they equally have nothing holding them to remain with the organisation.
The future of the organisation
The future of an organisation in terms of prospect, going concern, survival, growth and profitability is a key determinant of retaining key talents. There is no point staying with an organisation with no prospect of growth and/or survival. The current health of an organisation is major factor affecting talent retention. No serious employee would like to go down with a sinking enterprise.
Organisational Culture
Organisational culture has the potential of encouraging employees to stay with it or go elsewhere. Organisations that are always in the news for the wrong reasons must find it difficult to retain existing talents and attract new talents. Organisations must promote a culture that rewards merit and promote equity, justice and fairness.
Managers and Supervisors attitude
The influence of managers and supervisors in driving talent retention or otherwise in an organisation is very huge. Supportive, engaging and genuine passion of managers and supervisors to mentor subordinates for future growth and career advancement is germane to talent retention.
Conclusion
Continuous retention of key talents is very important to any organisation that must grow and survive in today’s dynamic, competitive and complex business environment. To do this successfully, a better understanding of key trigger of talent exit must be done and a strategy to address it put in place.