Managing your talent pool is incredibly important – now maybe more than ever. In a down economy many executives focus their efforts on eliminating all hiring, freezing pay increases and in implementing other cost cutting strategies. While keeping an eye on the bottom-line those same executives are not focused on THE key strategy to survive this economy. Keeping and retain their senior team. Keeping and retaining top talent is one of the most critical success factors for executives and has the most impact on the organizations near term and long-term success. It can be the difference in your organizations success or failure. This is a real issue!
We’ve seen huge challenges in this economy. Clearly some areas of healthcare have been impacted and discussed in this forum (almost weekly). Developing talent management retention strategies may be viewed as overhead by some executives instead of a vital component of maintaining stability in the organization. NOTE TO SELF: In many cases having superior executive talent could be your only competitive advantage and the one key driver that can have the most impact on the success of the organization. Think about it! It is a very real issue! You must develop a plan today to keep your starting line-up from walking through the EXIT DOOR once the market turns! Many executives are wearing multiple hats, working longer hours and are growing tired of all of the increased workload and lack of compensation and recognition. Their career clock is definitely ticking. TICK-TOCK-TICK-TOCK…
It’s one thing to attract and recruit outstanding talent. It takes a different approach to keep them. Retaining top shelf talent has to be a top priority to get through this crazy market we are currently in. Failure to find ways to keep your key players engaged will likely result in a mass exit once the dust clears in this economy. That day will happen (for sure)!!
Losing key members of your team is not a good outcome so make a plan to keep them. Today!