Beyond Acquisition: Four Concepts of Talent Retention

For companies around the globe, the war for talent is not on the front lines of acquisition. Instead, it is in the discovery of how to retain your greatest leaders. Today’s workers require transformative leaders who value them beyond the courting process. They want more than skills training and they expect management to invest in and develop them; thus, creating a Cohesion Culture™ where the employee feels he or she belongs.

Creating a Cohesion Culture™

When organizations create a Cohesion Culture™ leaders draw attention to three important relational aspects of the employment journey: 1) sense of belonging, 2) employee value, and 3) commitment to goals. Ultimately leadership is looking for what has been labeled today as “employee engagement.” To be clear, engagement is the result of a cohesive team. This happens when HR puts forth effort and systems so the talent is truly connected within the organization. When people sense they belong, they are in the right mindset to find value in what they do and establish commitment toward personal and organizational goals.

The Four Concepts

Establishing a culture that looks beyond acquisition means leadership seeks an environment for employees to function cohesively as a high-performing team. These four concepts within the larger conversation of talent retention are fundamental to sustaining a model that retains talent within the organization.

1. Emotional or Spiritual Growth

More than ever, people want to understand their purpose. They often seek a connection with a higher power for the purpose of knowing they matter and what they do makes a difference. Organizations want to sound off about employees having passion, yet it’s not until senior leadership aligns an employee’s purpose with the organization’s mission that passion becomes more than a window dressing. Passion is the emotional feeling people experience when they are doing what they know is important and has value.

2. Physical & Mental Well-Being

Organizations often neglect that a healthy employee is a productive one. Peak performance is impossible without attention to well-being. When employees are healthy or have the support to sustain a wellness mentality, they are more satisfied and in turn exhibit strong behaviors consistent with cohesion. Part of a robust HR system is having the systems in place to support more than performance evaluations. These systems must be able to support the well-being of the employees both mentally and physically.

3. Financial Mindset

Claiming financial independence and security is another important aspect of retention success. Educating employees about money management skills have powerful and positive results that extend into the employee’s personal life. Keeping an employee financially fit lessens the mental burdens of financial stress so they are able to perform at a higher level. When an organization creates conversations that promote Financial Counseling as positive behavior—and not just a corrective action—the organization will support a mindset to encourage financial stability. Teaching this type of financial awareness and acumen in the areas of savings mobilization and credit utilization moves the individual towards achieving financial success.

4. Intellectual Stimuli

Employees stay where they feel they belong, are developed, and frequently challenged intellectually. A key characteristic of today’s workforce is the display of an entrepreneurial spirit. Employees desire autonomy and a collaborative work environment where they are asked to think and encouraged to contribute. By encouraging team building and an open exchange of ideas, the company is proving to invest in the growth and intellectual well-being of an employee and signaling to the employee “you belong here, there is a place for you.”

Is your organization providing an environment where management is investing in its employees through skills training? 

ABOUT THE AUTHOR

Dr. Troy Hall is a speaker is the author of the Best-Selling Titles, Cohesion Culture: Proven Principles to RetainYour Top Talent, and Fanny Rules: A Mother’s Leadership Lessons That Never Grow Old. Talent retention expert who travels the globe teaching and motivating C-Suite Executives and Senior HR Leaders on how to retain their top talent. With his Ph.D. in Global Leadership, he has been honored to present at conferences across the United States, as well as in the United Kingdom, Africa, Asia, and the Middle East. He is also the Chief Strategy Officer for South Carolina Federal Credit Union, a multi-billion dollar financial institution that consistently wins awards as one of the "Best Places to Work."

You may also contact Dr. Troy at Leadership Speakers Bureau to schedule him for speaking or leadership engagements.