3 Best practices of Talent Management

Every company dreams of bringing attrition levels close to zero.

Reality is otherwise. It’s worse especially when talented people leave. However, there are organizations where attrition levels are consistently below 5% year-on-year, and it has nothing to do with a company’s brand perception. These are the best practices such companies consciously execute:

1. Upward feedback system – They have policies in place where team members evaluate their managers. Bad managers are removed for poor management. No exceptions are entertained.

2. Rewarding empathy & performance – be it a simple gesture that caused well-being to colleagues or clients, or exceptional performance that resulted in great results, such people are recognized with both monetary rewards and publicity. They are also offered leadership roles.

3. In-house training workshops – If people struggle without specific skills, they are not sidelined or terminated. Instead, they are given training at company’s cost – be it technical or communication skills.

Employees have a subconscious bondage with such organizations because these practices safeguard people well-being. The secret is CARE.

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