How do you manage those in your organisation who continually over achieve? These employees, whilst invaluable in the work they deliver, are easy to lose if they aren’t managed effectively to utilise their potential. Expanding on findings from our white paper Effective Talent Management, a free download available to you via our HR networking platform The HR World, we have taken a look at the ways talent management strategies can incorporate methods to keep high fliers engaged and challenged.Try these three tips:
Keep processes ever-evolving
Employers face a real challenge in uncovering how to keep valuable talent energised and motivated. The Towers Watson Talent Management Survey, which included 1,605 employers globally, found that companies not only have difficulty attracting talent but also struggle to retain high-potential employees critical to increasing their global competitiveness. For those high-achieving employees who pick up tasks effortlessly there comes an increased risk of boredom if these tasks become repetitive. Engage in regular sessions to update and evolve processes, re-define workload and analyse results with new goals to ensure the workload is ever-changing and always challenging.
Think beyond financial reward
Research has found that not all employers are taking advantage of opportunities to attract and retain high-value employees. Employers often focus too much on financial rewards and underestimate the importance of EVP which is vital in a highly competitive global market, helping to attract and retain high-performers by achieving the right balance between employees’ individual needs and organisational requirements. Those who really excel in their role will realise their high worth within your organisation, if your reward system isn’t competitive these employees can quickly and easily go elsewhere. For help on improving your reward system try our blog Five Tips on Developing your EVP.
Incentivise with succession planning
Keep conversations around succession planning frequent and realistic. Those who achieve over the average are also likely to be aiming high. If conversations slip and their next step up isn’t clear to them they may lose motivation to work as hard as they do without it appearing to lead anywhere. Put positive objectives in place and always have an end goal to make sure your high-value employees really feel valued.
To read more on the topic and hear the opinions of senior HR professionals who discussed this at our round table debate, download our white paper for free: Effective Talent Management.