Taleo Blog - Talent Retention

I read this a while back, but my last post referenced it again, so I gave it another look.  Interesting that their example - a study of IT workers - found that the majority placed a high priority on career development opportunities.

Taleo also issued a research paper on this topic, Talent Retention: Six Technology-Enabled Best Practices (see blog post for a link to download it), which identifies some key practices in retaining talented individuals, namely:

1. Recruit the right people in the first place.
2. Improve the line manager’s ability to manage.
3. Give employee’s constant feedback about clear, meaningful goals.
4. Empower employees to manage their own careers.
5. Proactively drive talent mobility.
6. Continuously measure and improve retention strategies.

Taleo Blog - Top 5 Employment Considerations

This is essentially a link to a link, but credit where it is due - besides, Taleo's Blog is a good one to follow.

Their article speaks to the top reasons employees will choose your firm over another, as identified by a recent survey of employment candidates.  Not surprisingly, the number one issue is 'career development prospects' - interesting that this happens to be one of Peter Drucker's Paths to creating an engaged worker (as described by William Cohen).

They also identify another report, validating these results, which includes this interesting bit of information:

Companies in which most employees have high-quality development plans have 27 percent lower turnover than companies in which few or no employees have development plans. In addition, companies with high-quality development plans have twice the revenue per employee.