Employee Retention: Potential and Pitfalls

As the war for talent continues in earnest — fuelled by demographic pressures of pending boomer retirement and competitive pressures — organizations are increasingly challenged to identify and quickly develop their high-potential talent. This includes relatively new hires who have made an impact on their managers and results. The annual talent review has become an eagerly awaited forum for discussion and review of work performance, psychometric and 360 data, and managers’ opinions. Good talent reviews keep the organization on track, the workforce engaged, and the company viewed both inside and out, as an employer of choice. Employee retention and “flight risk” is the greatest risk facing companies with bright, new hires who feel underutilized and underappreciated. Ironically, many talent management practices undermine the very talent they are trying to develop, leading to greater dissatisfaction in the ranks, and quicker departures.

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Jack Muskat, PhD
WRITTEN BY
Jack Muskat
Jack Muskat, Ph.D., is a Toronto-based Organizational Psychologist, writer and lecturer with over 25 years consulting and business experience with individuals and organizations. He advises senior executives and managers around selection and developmental planning. Dr. Muskat is an acknowledged expert on issues relating to organizational culture and leadership, succession planning and strategic management. He also teaches courses on leadership and negotiations at the Schulich School of Business.
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