The Management Tip of the Week blog will present one tip each week based on content in the MDM Archives. Sign up for the RSS Feed for this blog here.
Your top employees know they are the best, and they will continue to seek new opportunities if they do not feel they are being treated appropriately in their current organization. To prevent your best workers from feeling overworked and underappreciated, managers need to make sure top talent understand their importance and role in the organization's success, according to HR specialist Patti Redden in A Compensation Strategy Review.
Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.
This is especially true as the recovery continues to take hold. Some advice from Redden:
- Identify the core group you must keep and evaluate their retention risk.
- Look at the total value proposition of compensation and benefits, career development, training opportunities and work style options.
- Listen to the needs of this group; be flexible and work to satisfy them whenever possible to help create a sense of company loyalty.
- Recognize and reward this group; consider retention grants and bonuses selectively, as needed.
- Continue to develop top talent for future leadership.
Top talent is in demand even in turbulent times, and they have options, whatever the market conditions. Provide reward programs that keep these employees focused and motivated. They expect career development and training opportunities; they expect differentiation; and they expect rewards.
Related resource: The HR Professional's Strategic Answer Book