• Top Stories

Talent retention
In my father’s generation, people usually found work that offered job security and then they stuck to it and slowly worked their way up as far as they could. But job security is no longer an issue today. People look more for challenges and personal growth. With a growing demand for talented minds, they are always being lured with everything from more money and better profile to impossible growth curves.

Imprisonment is a punishment, not strategy
In an attempt to avoid the talents from being snatched away by others, organizations have gone to a great extent and some have even resorted to binding the new joinees or candidates up for promotion with contracts for a minimum period of employment that goes for as long as five to eight years. But these are not really going to work, as nothing can be gained from an unwilling and disgruntled employee.

In fact, they may even engage in destructive activities like spreading despair amidst the rest. Soon the work place will be nothing more than a zoo with lazy and depressed inmates with absolutely no enthusiasm. Those with energy would have already left.

Why do people leave?
The main reasons for quitting are:
* Little or no increments/promotions
* Dissatisfaction with job profile
* Overworking
* Little personal value addition
* Lack of recognition
* Employer market value

Fortunately, in a small company, most of these issues can be handled quite easily. Here are some pointers:

* Regular incentives and rewards, even if small in measure, go a long way in making one feel appreciated and understood. Incentives need not always be monetary or expensive. Innovative unconventional training programs that are interesting as well as inexpensive simply because not every corporation is running after it can be planned; sponsor a holiday package to the ancestral farmhouse of your friend in his scenic village.

* Even the best genius will be of no use if not used properly. This will lead to not only poor performance but also boredom and personal dissatisfaction. Identifying and assigning the right task which will stimulate the best of his intellect is a good manager’s responsibility.* Although a small and growing business often demands eccentric work schedule, it’s advisable not to go for days on end without proper rest. It’ll bear little fruits and more wasted resources and reduced performance.

* Frigid bureaucratic organization breeds frustration. Conflicts with colleagues or superiors also lead to stress. Team work teaches co-existence but when overdone, it causes loss of individuality and leaves some people feeling stifled. Establish free and frequent flow of communication to avoid rumors and grudges. Not being able to work in a team is not a punishable sin or even a disability. If someone is at his best when working alone, there is nothing wrong in giving him the option.

* It’s no secret that appreciation is a very powerful tool of motivation. Small acts of appreciation in everyday work are very refreshing and encourage one to stretch himself beyond his best.

* Despite all the advantages of working for a startup or a small organization, let’s face it, people want to be part of a powerful player or a player who is gaining momentum.

It’s very important for your enterprise to grow continuously and, more importantly, to communicate that to your staff. It’s easy to list things and preach on the subject but very difficult to implement them and more so to maintain the status. But if it is successfully done, there definitely cannot be a better company to work for.

©Entrepreneur July 2010

Tags:
HR, motivate, personnel, retention, talent