In my work as a career coach, I help my clients accelerate their professional advancement to earn that promotion they desired and to achieve other goals in their chosen field. I share proven skills for becoming an invaluable asset to your company and a leader in your field. But, what if you are looking at this person from the other side of the table? If you an employer, what do you do to make sure that the best and brightest in your office stay right where they are? You may be surprised to learn that the answer is not necessarily a bigger paycheck and better benefits (although these two things never hurt).
As the economy starts to make a turn for the better in many professional arenas, 27% of “high potential” employees have stated an intention to leave their current position within a year. These rising stars now have options before them that weren’t available just several months ago. There are steps you can take to keep these great professionals from walking out your door.
I often coach that employees need to feel a part of the bigger picture. Their proposals need to be given serious consideration and their role in the success of the company needs to be valued. This point bears out in a recent study completed by the Corporate Executive Board (CEB), which found that feeling a “connection to corporate strategy” was the biggest source of motivation for top employees. These bright men and women want challenging assignments and want to show off their talents. When their efforts lead to greater profits and a stronger reputation for the company, they will feel more tied to their employer.
As the Healthcare IT market heats up it will be vitally important for health systems, hospitals, vendors and consultancies to retain their best and brightest while they seek to hire away the best and brightest from their competition.
Do you agree with the idea that getting an employee to maximize his potential is the most effective way to keep your best employees onboard? What tactics have you used to retain your most valuable employees?
Joe:
It seems that most companies do a poor job of maximizing the full potential of their employees. Employees feel that their input is not valued nor respected, so they go somewhere where they feel they can make a better contribution. I would also like to highlight that the employee also plays a major part and should effectively communicate his/her future goals with the leadership to hopefully come up with a strategy to help them to get the next level they desire.
If that does not work, then the company will soon lose its “rising star.” High performers are always seeking challenges and want to grow in their careers. Smart companies who recognize this will retain talent and increase their company’s overall success.
Hi Fred and thanks for your insights! You are right on! I have worked for a couple of good companies and a couple of really NOT so good companies. None have been good at nurturing and keeping their “rising stars”.