Talent Management Strategies to Retain High Potential Employees

Talent Management Strategies to Retain High Potential EmployeesTalent Management Strategies to Retain High Potential EmployeesTalent Management Strategies to Retain High Potential Employees Recruiting Training CornerWhat constitutes a high potential employee? Depending on who you ask, its generally regarded as the top 3 to 5% of a company who demonstrate high levels of contribution.And while every organization may have its own twist on that definition, there is consensus that this group is always in hot demand.So why do many companies invest a lot of effort into recruiting these employees, but then do very little by way of talent managementand talent development to retain them?At a time when this type of talent is so crucial, organizations must put employee development strategies in place to avoid the pitfall. Below are five such strategies that you should be thinking about today.Pair them with effective beraters.The Odyssey of Homer introduced us to Mentor, Odysseus trusted advisor. Today, we commonly use that word to mean a more experienced person who can advise and teach us.Corporate environments have taken notice of this talent management concept and have started implementing more structured mentoring programs. These can be a very powerful tool in acclimating employees to the corporate cultureand values.Mentoringcan also be enormously valuable for those high potential employees who thrive on interaction with influential colleagues. The difficulty lies in finding that perfect match between a seasoned employee with the willingness and openness to mentor someone, and a high potential employee who respects that mentor and is eager to incorporate the knowledge.But when that is achieved, it can be a great employee retention approach.Give them high visibility assignments.Giving high potential employees high visibility and meaningful assignments is key to keeping them engaged.This can take on many different forms.Think about handing over stretch assignments that are pivotal to the organizations success.While this may frighten some managers, it is important that these employees be given challenging opportunities that are outside their comfort zones. They may make mistakes along the way, but thats a necessary part of their employee development.Other things you may want to explore include rotation to a supplier or partner, swapping positions, coaching/mentoring, or other creative talent development solutions that expand a high potential employees visibility and depth of experience.Openly communicate with them. This may seem like stating the obvious, but if a high potential employee has a concern, or an idea, it is in the organizations best interest to listen.Give them the one-on-one attention they deserve with all levels of management and foster their creativity.You may also want to consider communicating that you believe they are high potential, and as such, enormously valuable to the organization.Some managers may worry that this will cause the employee to develop a sense of entitlement, but the more likely scenario is that it will boost their desire to work toward fully realizing their potential.Invest in their learning and development Think about other types of learning and employee development opportunities that you could offer, beyond certifications or employee training programs.This group yearns for dynamic and ever-changing tasks. Is there an opportunity for an employee to be sent overseas for an extended period of time? Is your organization large enough that it can implement special tracks for high potential employees?Many organizations are coming up with talent management structures that allow one employee to touch many facets of the organization, from sales, to marketing, to customer service.For those employees who thrive on constantly learning, what better opportunity than to have assignments in all of these different roles?Remember that if you implement something like this, the employee must be empowered to act ively participate in the planning of his or her career development.Measure progress quarterly.Given that companies measure themselves on a quarterly basis, wouldnt it make sense to take your high potential employees and measure them the same way?If youre not thinking that way today, you should start.By exposing this group to mentors, new and high visibility projects, position swapping, etc, you are putting them in unfamiliar territory.Instead of waiting until the end of the year for the performance review,implement a proactive quarterly review that provides them with more immediate feedback.In turn, this feedback can be used to improve the employees performance in the short-term, thus improving overall performance and communication at all levels.Regardless of where your organization stands at the moment, it is imperative that deliberate talent management strategies be put into place in order to grow and retain your high potential employees. You simply need to understand the state of your particular corporate environment, and then implement those ideas that fit your corporate culture and resources.

10 Facts You Didnt Know About Christmas

10 Facts You Didnt Know About Christmas10 Facts You Didnt Know About ChristmasChristmas preparations are in full swing. Everyone loves Christmas, maybe except Grinch. The reason why is the holiday so beloved are all the little things making it special. We are talking about Christmas tree, Santa, presents, food, family reunion, snowmen, carols etc.But do you know the background of all the Christmas manners? Where did Santa come from? How tall was the worlds tallest Christmas tree? How many Santas are there in Iceland? And when was the first time people celebrated Christmas?Find all of the answers and much more in ur special Christmas infographic. Have magical holidaysDo you like this story? Share it with your friends.Share Your Feedback or Ideas in the Comments

How 4 Real Women Scored a Raise

How 4 Real Women Scored a RaiseHow 4 Real Women Scored a RaiseThis article isfrom our friends atLearnVest, a leading site for women and their money.Were told over and over again that women are too reticent,too lacking in confidence, too timid to ask for a raise.But weareasking.And we have proof. We found four real women who negotiated for raises, and got them. These arent career coaches or hiring managers- theyre just ambitious, conscientious women like we are, who made things happen for themselves.Please bedrngnise Names have been changed to protect those who shared their successes- and prevent them from encountering any awkward situations at work.Remember, if they can do it, you can, too.Rosemary, ReporterI was at my job in New York City for about a year when I figured it was time to prepare to negotiate a raise, so I started using sites like Salary.com to find what people ofcomparable experience and qualifications were earning. I quickly realized that I was making less than the in dustry norm.I got along well with my colleagues, so I asked in the spirit of solidarity Im looking into pursuing a raise, and its good for all of us to know what were worth. They were happy to share, and I quickly realized that a male co-worker who had been hired after me with the exact saatkorn credentials (down to the same journalism school) but less experience was making 15% mora than I was To add insult to injury, its not that he had negotiated from the outset and I hadnt Neither of us had negotiated our first offer.I wanted to be upset, but I had to get strategic.I started asking friends who were attorneys about my situation, and they pointed out that my employer was likely violating the Equal Pay Act I was the only woman in my arbeitszimmer. My boss at that time was new, so hadnt hired me and wasnt aware of the disparity. When I pointed it out to him (as advised by my lawyer friends), he brought it up to the CEO and I was granted a 15% raise immediately.Amy, PediatricianMedici ne is different from other fields in that if youre working in a private practice and making a salary, you can expect to have a conversation about becoming more of a partner around the five-year mark. Then, instead of getting a set salary, you share in the companys profits with a proportional bonus each year.In my practice of six doctors in Michigan, Im both the only one who doesnt have children and the only one who works full time. Consequently, I have ambitions to become a partner. After three years, I noticed how much more the owner of the practice did than his staff He was dealing with angry parents, negotiating with health insurance companies, ordering vaccines, hiring new employees. Since I did want to become a partner one day, I started asking myself What could I take on to get to there?So I asked. I told him I was interested in learning more about how the business functions and how I could help, and asked how I could move up in the ranks. Not only was he appreciative that I n oticed his work, but he told me I was the only one who had ever asked him how to transition to the business side of things.He inquired how much Iwantedto be making, ultimately, and we sat down and figured out how I would get there. We ironed out my responsibilities and pay raises for the next five years (it works out to 10-15% per year). By demonstrating my commitment to the practice and asking how I could grow with him, my boss was able to plan on my being around, and he rewarded me accordingly.Being upfront with my dedication to his business made it easier for him to invest in me.Susan, EditorAfter graduating in a recession, I believed I would be lucky to have any job besides unpaid intern. So, when I got apaidinternship, I worked my way into a staff position and then another- and with that second promotion, I asked for more money.My company is a non-profit, so were all working for the greater good. In this kind of environment, asking for money can seem greedy and crass. Add to th at the fact that Im one of the youngest people to hold my position, and I was understandably reluctant. Until now, I had always seen my salary as how much money I had, not how much I was worth. And since I could pay my bills, my rent, and my student loans, it felt like I had enough.But then the woman whose job I was taking over told me I should negotiate- she was moving overseas, so I felt comfortable opening up to her about my salary, and she felt comfortable giving me an outside perspective on assets I didnt realize were valuable my experience in the field in college (I had been an editor at the college paper), my familiarity with the office culture, and my willingness to work more hours and be connected 24/7.After realizing how helpful it was to hear an objective view of my value, I started gathering intel from people who were similarly non-competitive with me I asked my former boss for his advice, and my friend who works in finance.Between the two of them, I settled on asking fo r a 20% raise. Once I got past my worries about seeming presumptuous, the actual negotiation was easy. I brought notes into my meeting (on my friends recommendation) and went through the points about my worth. My boss took my suggested number back to the appropriate channels, and a week later, I had a new jobanda higher salary.Eva, Vice President at a Non-ProfitWhen I was offered my first job as a graduating senior, the idea ofnegotiatingmy salary seemed absurd. I felt lucky that anyone would give me a job, and also feared that negotiating my salary would be painfully awkward and potentially damage my relationship with my new company and boss. But after learning that women end up with much lower pay throughout their careers partially because of failure to negotiate, I decided I had to do it- if not for me, then to break the patternWhen I called to respond to my job offer, I took a deep breath and squeaked out, Is there any flexibility with the compensation? My boss asked me how much I wanted to make, and I asked for $10,000 more than they offered. Two hours later, he responded and I was given a 17% raise. My first thought was Wow, it actually worked and my second thought was, I wonder if I could have gotten more?Since then, I have always negotiated my salary, even if the starting offer is high, and have actually come to enjoy it.Before negotiating, I remind myself that the company wants me or they wouldnt offer me the job, that the person making the offer probably makes a lot more than I am being offered, and that mycompany will respect my ability to communicate clearly regardless of what happens.Then, I take these three steps, always staying positive and energetic1. Not Waiting for a CallWhen I am called with an offer, or a counter offer, I always say, Thank you. I am incredibly excited about this opportunity and appreciate the offer. Can I call you back this afternoon to discuss some details? It keeps me calm and makes me feel like I have control of the conv ersation.2. Asking for at Least 20%I normally ask for a 20-30% salary increase. I dont know how I decided on this, but it has seemed like the right amount to ask for.I want to make sure I ask for much more than I actually want, recognizing that their second offer will be lower than my request.I also provide a reason for asking for an increase (the cost of living in the city, the level of responsibility required, the average market salary) but dont go into details.3. Remembering Its Not All About SalaryBecause time and flexibility are very important to me, I also often ask for increased vacation time or other benefits, such as paying for a class or training. One job wouldnt give me much extra salary, but I got an extra week of vacation every year and actually had my new boss apologize for not being able to offer more.More from LearnVest 11 Tips to Get a Promotion, Straight From Real Bosses Make the Right Moves With Free Build Your Career Bootcamp 9 Reasons Youre Still BrokePhoto of w orking woman courtesy of Shutterstock.