Are You in Danger of Losing Top Talent?

losing top talent roller coaster with dangerous gap

Losing Top Talent Can Derail your Strategy
If you want to avoid losing top talent, fill your company’s leadership pipeline.  In fact, one of an executive team’s most important strategies for the future growth and health of the organization is to build leadership capabilities for key roles.  Yet few companies do this well.

Select the Right High Potentials
They may identify high potential employees and have a HIPO program to groom them, but their selection criteria are often flawed and generic programs typically miss the mark. If you have chosen a few stars to ride the roller coaster to the top, make sure you have reviewed the following tips on how to do it right.

1.  Choose High Performers Carefully
In singling out high performers for special treatment, be sure you consistently and fairly apply the right criteria. Certainly they need to have the ability. But many companies make the mistake of assuming that the ability to perform well in their current job qualifies them to perform well in other, broader and more significant roles.

As best you can, make sure they have the technical, emotional and intellectual capabilities that strong leaders need to succeed in progressively higher level and more complex positions. Then assess their true level of engagement with your company. You should not assume that they are as committed to the organization as you are to them.

Our own employee engagement research tells us that up to 25% of high potentials expect to be looking for another job within the year. Additionally, clients tell us that as many as 20% of high potentials do not believe that their personal goals align with what the company plans for them. These statistics highlight a serious disconnect and a big opportunity.

2.  Treat High Potentials Well
In terms of rewards and recognition, high potentials should earn more because they add more value. Even when times are tough, your top talent should be regularly rewarded in any way that you can. High potentials count on being noticed and appreciated for their contributions and should receive the greatest share of the rewards.

To make sure you are not at risk of losing top talent, treat them specially but do not protect them from the realities and challenges ahead. They should have important assignments that test their:

  • flexibility
  • willingness to learn
  • ability to handle risk, failure and stress

3.  Share Information and Involve in Future Corporate Strategies
To keep high potentials engaged, give them opportunities to be actively involved in the future direction of the company. High performers need to feel confidence in senior management and in the plans going forward. When they are given access to information and an active role in planning the company’s strategic direction, they are much more committed to staying loyal.

To make sure you are not at risk of losing top talent, invite them into the executive suite to learn and grow about what it takes to perform at the next level.

The Bottom Line
Engaging and retaining top talent matters. Don’t risk losing top talent. Select your rising stars thoughtfully, recognize them with special rewards, and challenge them to help build the company in a way that keeps them aboard.

To learn more about retaining your top talent, download 2 Steps for Every CHRO to Retain Top Performers

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LSA’s approach and ability to bring the best resources to eBay has been a great asset. They really focus on helping us succeed in any way they can and are very flexible in meeting our management and talent needs.

Mike Normant
Learning & Development

ebay

Each program is preceded by an assessment of the participants. The course is then designed to fit the specific parameters and needs of the group. The highly interactive delivery is provided by recognized experts in their fields. On the spot coaching is provided during the program and each participant receives individual follow-up after the course. Courses can be delivered in-person or virtually. Given the nature of Cisco’s business and the way we operate, these remote workshops are a must for anyone who joins our company. Their work is eye opening. Great content and fantastic delivery.

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Michelle A. Mitchell
Vice President, Worldwide Human Resources

LSA’s Employee Engagement Consulting and Survey work has provided critical visibility into: how well our people are holding up under the general economic environment, as well as, the specific challenges that face biotechnology companies in their efforts to discover and develop new medicines; their level of alignment and commitment to XOMA’s Vision and mission critical strategies; how leadership practices and management systems support an environment that engender commitment, and the specific actions that our leaders can take to improve on areas that are important to our people. I highly recommend LSA’s employee engagement solutions.

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Thank you to LSA Global for their partnership and support in helping us to design and roll-out our valuable management development training program. I personally have partnered with LSA Global at four of my previous companies. It continues to be a delight working with LSA. We look forward to partnering with them at Blackhawk Networks for future training and consulting needs.

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Blackhawk Network

We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.

Anita Luckinbill
Director, Human Resources

We value our relationship with LSA Global. We came to LSA because we wanted to improve overall behavioral based interviewing capabilities of our managers to increase the probability of both hiring top talent and future leaders. LSA designed a highly customized solution for our business and culture. We are currently rolling out this solution to our leaders. I would highly recommend LSA Global as a top quality resource.

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I am very impressed with the quality of work and talent. LSA did a great job of listening to my needs and providing the exact management training program expertise I needed to get the job done.

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