What are the suitable retention tools for top talent in your organization?

فى مجال التربيه والتعليم الثانوى الذى هو حقل تخصصى وتجاربى ارى من المهم ان اقوم بجمع هؤلاء الموهوبين باختصاصاتهم من كل الطبقات ومختلف المدارس ليتعارفو على بعض واخلق رروح التنافس بينهم لتنميه قدراتهم وكسبهم مهارات اضافيهوان يتعارفو مع الاخرين ويتعلمو منهم ويعلموهم اسلوب اعتمدته فاتى بنتائج رائعه

In my previous organizations, top talent/ senior management were awarded/offered the following options: ESOP options Fast Career Growth Paths Opportunities to work onsite in Overseas Office locations

1 - satisfy their need for material and moral 2 - create a work environment suitable for them 3 - encourage them to innovation and the development of their ideas and try to take advantage of them 4 - a reward for outstanding intellectual effort and promotions opportunities 5 - let them participate in the decision-making so that they feel part of the organization 6 - training and continuous development 7 - be fair with all of them without discrimination 8 - each time tried to measure employee satisfaction from work

The most suitable retention tool would be effective Employee Engagement.
Since different levels of employees have different needs, a one size fits all approach may not work.
For some ESOPS would be a good option, for some a higher compensation and for some just a simple 'Pat on the Back'.
HR should play the role of business enablers with a heart.
Through effective Employee Engagement - the morale of employees can be gauged and interventions administered thus resulting in retention of employees.
HR should ensure information flows both ways - from Management to Employees AND from Employees to Management too.
The latter is important and care should be taken that the information presented to Management is transparent and unbiased and not skewed to please the Management with only the positives.

Retention Strategies In our company we have surfaced six dimensions that are most critical to influencing retention.
These dimensions must be infused into three major components that must be in place and aligned for an organization to achieve standard retention:1.
Manager Retention Practices Manager plays a significant role in influencing the employee's commitment level and retention.
There are a number of manager retention practices which increase the probability that an employee will remain committed to an organization over time.
These retention practices represent the manager's actual behaviors on the job.
This often has little to do with the amount training they have received.
Furthermore, the best retention practices are not the same as the standard menu for good management.
Our company ask the managers to place productivity as the highest priority.
Good retention practices focus not only on what the employee is contributing to the company, but also focus on how the manager can create a climate so that the employee is retained and committed on a long term basis.
While enlightened leaders balance the needs of the organization with the needs of the employee, the truth is that these leaders are rare.
Though managers play a very crucial role in retention, they do not control all of the factors that can affect attrition.
Therefore, the second component represents the company's responsibility in the retention equation.2.
Organizational Retention Systems There are a number of organizational systems and processes that influence retention.
Some of them are evident, such as equity of pay scales.
Other systems are less obvious, and their impact on retention is often unrecognized.
For example, there is evidence that an organization's recruiting systems and processes can significantly impact retention ratios.
These systems support the Manager Retention Practices, but they also increase the likelihood that employees are committed on a long term basis and are performing at their best.3.
Measurement and Accountability Closely linked to the other components, this component ensures that retention becomes an on-going priority.
Many organizations do not even know what their attrition rates are.
And those that do often lack enough data to pinpoint where the problem is most severe, or to uncover the specific causes of attrition.
For example, those organizations that measure attrition sometimes do not track it by length of service.
The tenure patterns of the departing employees can reveal valuable information concerning the potential causes for attrition.
Additionally, many organizations do not track attrition by occupational group other than by "manager" or "non-manager." This simple segmentation is often a crude one that does not provide the organization the refined information it needs.
Organizations must hold their managers personally accountable for retention.
Likewise, they must hold their corporate staff accountable for developing, maintaining, and upgrading their retention systems.
When retention is relegated the status of being a "HR issue," it often falls to the bottom of the priority list for managers.
When it becomes one of their business goals, it takes on a new perspective.
Here is an example that we have implemented in our organization.
In a recent meeting, the new director of HR and the CEO presented the following four new business goals to the management team.
The first three were: Fulfill Technical Support Contract Obligations Maintain the Highest Level of Customer Satisfaction Manage Costs Aggressively The fourth goal was to retain employees! After some discussion, the entire management team observed that they would not achieve the other goals if they could not achieve their retention goals.
In another division of the same company, the senior managers' personal bonuses are calculated on the basis of their success at retaining their best people.
When managers are held accountable in this fashion, it ensures that the motivation to examine and enhance their personal retention practices is ever present.
Conclusion Interestingly enough, we as the HR department predicts that mergers and downsizing would result in employees who felt lucky to have a job and who would, of course, stay.
This may be true for employees in the lower tiers of performance.
However, top talented employees recognize they represent a valued organizational asset.
When their loyalty deteriorates, the tendency to switch organizations increases.
The average costs of replacing today's defecting work force are eating away at the profitability of even the healthiest organizations.
Even when the bottom line remains intact, the loss of just a handful of key employees who have a special expertise or who maintain valued customer relationships can shake an organization to its roots.
In this age of high stakes and unpredictable market and organizational changes, organizations must educate their managers and create an environment where today's top talent can thrive.
The alternative is unacceptable.

I beg to differ from some of the suggestions mentioned.
My premise for difference is rooted in the definition & nature of Top Talent.
Definition of Top Talents : High performing professionals who are generally ambitious.
Nature: The top Talents in any organization are generally in flux .
You may have few leaving this elite club and few new faces( based on organization criteria) making to the club.
so some of the suggestion made around1) 'materialistic reward' should be looked through a 'pratical lens'.
As you all know a 'benefits once extended becomes a Right' so it will be very difficult to withdraw a benefit or it can demotivate the employee if benefits are withdrawn when he falls out of this elite club.
Can an organization afford the up keep of an ex-top talent expecting him/her to bounce back in next cycle? :)2) Suggestions on Promotions - A top performance in current role may not ensure a successful stint in next immediate role.
Hence a proper potential & cultural fit assessment has to completed before suggestion such moves.3) generally the top Talent composition in an organization would be2.5-5 % of overall org.
population.
So creating special privileges as a retention mechanism for2.5 -5 % may create dissatisfaction among rest of80 % ( assuming that17 -15% are bottom performers) who can be termed as solid performers who are equally powering the company's growth.
Considering all this organizational constraints some of the suggestion that works (few being repetitive) would be :1) A one time incentive to recognize the performance + story boards & public praising2) Allocate a strong mentor (informal or formal) so that he is aligned with culture3) Set higher goals in next cycle4) prepare the person for the next role through shadowing seniors + Individual development plans5) Jointly Chart out a career path (only for next2 roles) so that the person sees a future for him/her in the same organization Note: This is also a great opportunity to develop an able replacement for TT's position as 'TOP Talents are ambitious too-inspite of all these beds of roses you still have a good chance of loosing him/her'.

- Offer Career Path (Opportunities & Growth)

- Offer Compensation & Benefits

- Comfortable Working Environment

- Training & Development Opportunities

- Health and Safety well-being

Employee Surveys – By surveying employees, organizations can gain insight into the motivation, engagement and satisfaction of their employees. It is important for organizations to understand the perspective of the employee in order to create programs targeting any particular issues that may impact employee retention.

 

Exit Interviews – By including exit interviews in the process of employee separation, organizations can gain valuable insight into the workplace experience. Exit interviews allow the organization to understand the triggers of the employee’s desire to leave as well as the aspects of their work that they enjoyed. The organization can then use this information to make necessary changes to their company to retain top talent. Exit interviews must, however, ask the right questions and elicit honest responses from separating employees to be effective.

 

Employee Retention Consultants – An employee retention consultant can assist organizations in the process of retaining top employees. Consultants can provide expertise on how to best identify the issues within an organization that are related to turnover. Once identified, a consultant can suggest programs or organizational changes to address these issues and may also assist in the implementation of these programs or changes.

1) Infringe benefits.

2) Competency-based payment.

3) Excursion-tour.

4) Extra payment for his/her family support.

5) Social Support - Memberships.

6) Sophisticated work-station.

7) Free from Unsolicited stress.