Retain high achievers, up-and-comers by investing in them

Are you deploying a system that recognizes and rewards your key contributors and others?

Are you deploying a system that recognizes and rewards your key contributors and others?

Given the fast pace of most business environments, it’s easy to let managing your talent slip to the wayside as other more pressing needs present themselves.

Talent management, though, is considered by many organizations as an essential practice based on many factors – including business continuity and succession, retaining people who are instrumental in your success and rewarding the right people for the results they achieve.

A good talent management plan and process work for the different generations in the workforce today, such as millennials, Generation X-ers and baby boomers.

There are many approaches to developing a talent management system, but typically it is gaining agreement among company leaders in identifying the key players in your talent pool.

One approach is to rank people into four groupings:

MUST RETAIN – People whose contribution is so great it would be hardship to the business to lose, and they consistently demonstrate leadership potential.

UP AND COMERS – People with emerging talent that with the right development and coaching could move into the must retain category.

SOLID CITIZENS – The bedrock of your talent pool. They produce satisfactory results but either lack the ability or desire for advancement outside their particular work area.

NEED IMPROVEMENT – Includes people who either with development and coaching become solid citizens or should be managed out of the business.

LVB Business Events

2019 Health Care Symposium

Thursday, August 01, 2019
2019 Health Care Symposium

2019 CFO of the Year Awards

Wednesday, September 11, 2019
2019 CFO of the Year Awards

HR Symposium

Wednesday, September 25, 2019
HR Symposium

2019 Fastest Growing Companies Awards

Wednesday, October 23, 2019
2019 Fastest Growing Companies Awards