The economy is
unstable right now, oil prices are crashing and the labor bans have been lifted
in Dubai meaning turnover is going to increase, the purchasing power of the
consumers hasn’t yet decreased to a great extent however they are cautious now
more than ever before. Everyone is talking about a big recession that will hit
Dubai before or after 2020. All this fear, all this speculation. Some companies
are making their employees redundant, others trying to cost cut and some lucky
ones expanding. This is a crazy time!
So in the middle of
all the fiasco HR is stuck with the main problem being, we want to retain the
right talent and hope that the ones that are more of a cost than a profit find
a job elsewhere. We want to incur minimum or no costs and retain the right
talent through the storm. How do we do this?
·
Make your employees feel
like an asset and not an overhead. Do the simple things, greet them by their name,
let them know that you know who they are and are aware of their contributions
to the company. Before making changes in rules consult them, make them feel
like their opinions are valuable and are considered (besides this will also
help you in change management). Make them feel like they matter…. like they are
an asset not an overhead. Costs incurred ZERO.
·
Don’t assume that they
are all utilizing their abilities to 110%. Talented employees normally like
challenges. This is what keeps them going, the adrenaline to do more, fix
something, create something. Hence always ensure that you are feeding their
needs for challenge. If you look the other way for too long you might let an
ace employee become mediocre and always remember it is very easy to become
mediocre. Costs incurred ZERO.
·
Remember all your
employees are different. Yes, each one is an individual and even though you may
be able to categorize them with their common traits, in the end each one is
different. Therefore, always remember the thumb rule, different strokes for
different folks. Just because one employee is motivated by a pat on the back doesn’t
mean the other would be. Don’t be blind or frustrated by their differences,
instead appreciate them and nurture them. You will see the results. Costs incurred ZERO.
·
Don’t get confused
between high performance and full potential. Just because someone is a high
performer doesn’t mean he or she is using their full potential. Each one is
different. Costs incurred ZERO.
·
The HR departments
should play an active role in following up and keeping an eye out that line
managers are making an effort in the motivation of their employees. This is
something that is especially important for larger companies. As the HR
Department is traditionally located in the headquarters of a company they then
delegate down the management of top talent to the line managers. Yes, HR can’t
keep an eye on all the employees however they can keep an eye on the top
talent. Reason being when you leave the task of identifying and cultivating
tomorrow’s leader exclusively to the business units; candidates are then
selected solely on the basis of recent performance, they are offered narrow
development opportunities by the business units’ scope of requirements and the
focus is more on what is required now than tomorrow. Also sometimes talented
employees can be hoarded by line managers, collected, protected and not shared
as they want them to be where they currently are because of their talent. This
in return after sometime causes frustration on the side of the talented
employee as they aren’t able to use their full potential and feel neglected as
they aren’t developed and then they more to “better opportunities”. Costs incurred ZERO.
·
Don’t forget Abraham
Maslow’s theory of needs. Yes, everyone has needs they vary as they are
different individuals however they can be put under umbrella terms/ categories
and that’s where Maslow’s theory comes into place. Identify where your talent
is on their needs and try to show them how you are assisting them in meeting
their needs. Costs incurred ZERO.
·
Take performance
reviews/ evaluations more seriously. There is so much value in performance
reviews when done right. Sadly, what we see is managers who try to just fill in
some forms, rush the performance evaluation, submit the forms to HR and go back
to business. They fail to understand that during the performance evaluations it
is the best time to take inventory of your employees’ skills, their potential,
career plans, succession plans. When all these factors are considered during
the performance evaluations then the employees feel they are more than just an
employee id, they are a human being and their manager is taking an interest in
their development. This also lets the managers see how they can use the full
potential of their employees, which in turn increases the overall productivity
and efficiency of the company. Costs incurred ZERO.
·
Make the company vision,
expectations and goals clear. The employees need to know what they are working
towards. This would also help them think of ways to achieve those goals in an
efficient manner. If you don’t make the destination clear, how will they know
what is the best route to get there. Costs incurred ZERO.
·
Emotional Intelligence
and positive thinking. My two personal favorite topics. Train key personnel on
emotional intelligence and positive psychology and see the effect. It has a
ripple effect and the environment in the offices will change evidently. They
will spread this awareness and deal with situations differently in a positive
aspect. It will lead to a better working environment. Costs incurred ZERO.
Simple, no cost
involved and yet effective ways of retaining the right talent. There are many
more ways to retain the right talent and these are just some of those ways.
Written by,
https://www.linkedin.com/pulse/retaining-right-talent-sabahatt-habib#
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