In a new white paper, Taleo lays out six best practices to help in the retention of talent. Talent retention is critical for organizations as replacing a top performer is significantly harder than replacing a lower rated performer, turnover of talent is expensive, and top performers drive business performance. In fact, access to and retention of top talent was considered the number one priority of CEOs in the study:
The importance of top performer retention is a topic that consistently leads in HR and business surveys alike. Notably, more than 1,000 CEOs were asked: “How important are the following sources of competitive advantage in sustaining your growth over the long term?” The number one response – chosen by 97 percent – was “access to, and retention of, key talent.”
The six best practices laid out in the article are:
- Recruit the right people in the first place.
- Improve the line manager’s ability to manage.
- Give employee’s constant feedback about clear, meaningful goals.
- Empower employees to manage their own careers.
- Proactively drive talent mobility.
- Continuously measure and improve retention strategies.
For more, download the complete white paper at: Talent Retention: Six Technology-Enabled Best Practices.