Retaining your best people

You can replace equipment, infrastructure, tools, etc but at the end of the day it's the people i.e. human capital which is the critical success factor in today's competitive environment. Retaining key talent is one of the topmost priorities for all successful managers. In spite of the obviousness of this crucial responsibility, many organizations suffer from the 'leaking reservoir' syndrome. Most organizations have come to accept that it is acceptable to lose a percentage of good employees over a period of time - which is true to a great extent. The problem begins, however, when the crack in the reservoir becomes so huge that replacing people becomes a full-time endeavor and leaves little time to do anything else. A certain percentage of time invested in building strategies for growing and retaining your people in the long run prevents the talent leak from growing and saves you a lot of time and pain in plugging the hole later.

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Author: Ugain