| I often get the opportunity to speak with CEOs and | | | | retain. |
| leaders of multi-nationals and SME's about the value of | | | | 2. Recognise the environmental 'push and pull' factors |
| top talent to their business. I have come to the | | | | that encourage retention. |
| following conclusions: | | | | 3. Develop an employee value proposition for high |
| - Talented executives are often motivated and | | | | potential-high value employees and compile strategies |
| attracted by the prospect of personal development as | | | | to implement this proposition. |
| opposed to high compensation. | | | | 4. Talent management is not confined to HR, it is |
| - Top talent attracts other top talent - a company with | | | | something that every leader should do and be |
| talented executives are more likely to attract other | | | | accountable for. |
| such candidates. | | | | I am often asked if executive search firms are not at |
| - It often happens that a company full of top talent will | | | | the root of corporate retention problems? To be |
| grow faster, recognised as a market leader and | | | | honest, the answer is no. Of course if there was |
| generate more profits than its competitors. | | | | complete retention in companies then executive |
| I predict that the topic of talent engagement will be one | | | | search firms would not exist, but retention is actually to |
| of the important issues for years to come. The current | | | | our benefit. If recruited candidates quickly move on, |
| and future availability of talented executives are | | | | eventually neither clients nor candidates will take the |
| affected with anticipated changes in population | | | | calls of executive search consultants who are unable, |
| demographics, more astute potential hires, technology | | | | or unwilling to match the needs of the client and or |
| and globalisation. Without a program to identify talent, | | | | candidate. I am convinced that a value-oriented model |
| strengthen the capabilities of existing leaders and | | | | will outlive and surpass a transactional model. The |
| increase the number of people in the leadership | | | | executive search consultants who recognise this are |
| pipeline, a business is more likely to fail. | | | | the ones that help build their industries. |
| According to a recent study by Accenture, 80 percent | | | | Success in finding talented individuals will lead to repeat |
| of global business leaders believe that 'people issues' | | | | business. Search firms who align their interests with |
| are more important today than they were three years | | | | their clients' have a much greater chance of |
| ago, and 68 percent believe that retaining talent is far | | | | succeeding in every search, thereby having a better |
| more important than acquiring new hires. | | | | chance of repeat business. |
| The labour market is already quite challenging in | | | | Successful executive search consultants force both |
| several economies and with many industries having | | | | the client and the candidate to make good and |
| difficulty finding suitable talented executives for critical | | | | sometimes difficult decisions. Without trust this would |
| business roles, all points to the fact that retaining talent | | | | not be possible - the focus should be on solutions, not |
| should be a high priority. It is my opinion that companies | | | | just placements. |
| without a clear strategy for finding and retaining talent | | | | As the market for executive talent becomes |
| will miss opportunities and have a greater chance if | | | | increasingly fluid, as real and perceived loyalty of the |
| failing. | | | | employee to the employer decreases, companies |
| Some key points to consider in compiling a retention | | | | without a clear strategy for finding and retaining talent |
| plan: | | | | will miss opportunities and ultimately fail. |
| 1. Identify the individuals who are the most critical to | | | | |