Retention of Talent in Organizations

The current personnel skills shortage is a major business constraint which is hampering organizational growth around the world. Although hiring has gone big time, post recession with the signs of economy recovering, the challenge now lies in ensuring and retaining a sustainable talent pool of personnel for companies today.

Organizations say that, position in top and middle management slots nearly 45 % of them become vacant, as the challenge lies in finding the right hire. Although organizations are aware of the fact they cannot do much as it’s an ever persisting problem.

Organizations acknowledge that the talent shortage is an issue that they can overcome by retaining the person successfully by adopting a more sustainable approach to his work space issues, and look outside traditional hiring methods which eventually are successful in a timely and cost effective manner.

Internal job changes, job rotation and job role changes creates a lot of challenging situations which help in high retention of an employee as the people already familiar with the company and its business objectives. The job role function differs which can be made accurate by a person based on his.

  • Knowledge
  • Skills
  • Values and mindset
  • Personality and intelligence, (Emotional Competency).
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Hiring Process- Make sure that your hiring metrics are above excellence

Hiring forms an integral part of every organization. But what organizations miss upon the subtle point is that of the quality and the excellence of the candidate. Hiring Metrics depends from vertical to vertical, but the point that should not be missed upon is the quality of hiring’s happening. I consider a few given metrics of mine very effective for hiring and staffing the best candidate, irrespective of any given vertical.

  1. Determine your hiring process and make due changes: – Hiring processes and people involvement differ from company to company. But make sure that hiring activities are spruced to the best level possible by implementing benchmarks. This can help you in positioning your hiring standpoints to the optimum.
  2. Break the recruiting activities into multiple levels: – Start by breaking or sub grouping the recruiting and staffing activities into multiple levels. This helps you to figure and channelize on things, which are working and which are not. This helps to allocate your budget correctly on multiple candidate sourcing channels.Staffing activities done online, job portal selection will work for some stances, whereas telephonic recruiting might work for some. Take due care that budget allocation always means higher ROI for the company.
  3. Candidate Hiring Accuracy= Hiring accuracy of a candidate can be determined after he joins the job and starts performing on it. This helps us to gauge his knowledge levels and output productivity levels. This not only helps us in predicting the output of a person but also in the hiring decision undertaken by the company.

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