Eric Jackson is a technology contributor who covers the business of technology for Forbes magazine.
He recently wrote an article titled, " Top 10 Reasons Large Companies Lose Their Top Talent".
Frankly I wish I had written the same article earlier, as I agree whole heartedly with Eric’s observations, with one exception… I believe these issues Eric discusses also apply to small and medium sized organizations. The 10 reasons listed all have to do with career development and personal growth. Those two items are universal to the health of a company regardless of their industry.
Eric’s top 10 list on ways to lose your best employees are:
1 – Big Company Bureaucracy
2 – Failing to find the project for the talent that ignites their passion
3 – Poor annual performance reviews
4 – No discussion around career development
5 – Shifting whims / strategic priorities
6 – Lack of accountability and /or telling them how to do their jobs
7 – Top talent likes other top talent
8 – The missing "vision thing"
9 – Lack of open-mindedness
10 – Who’s the boss?
While any time is the right time to rectify the above mentioned problems, yearend planning provides a wonderful platform to make changes for the better. Whether you believe corrective action needs to be taken in one or multiple areas, here is my suggestion to begin the effort.
• Pick one item at a time and focus on that item.
• Clearly establish the end goal or results to be accomplished.
• Choose realistic and measurable benchmarks.
• Establish a feedback mechanism to monitor the progress on achieving the stated goal.
• Stick to the task until the initial desired results are achieved.
• Make this effort part of your company’s culture.
• Choose your next goal, and repeat steps 1 through 6
In the 19 years of being in the IT Search and Staffing Industry, The InSource Group has seen our fair share of management styles. Universally, the success of a company begins at the top with its executive leadership and then filters down through the organization. If you are in a position to improve your group’s performance, now is the time to do so. The importance of top talent retention can never be underestimated or ignored. We wish you great success on this journey.
If you would like to read Eric Jackson’s article in its entirety, follow this link: