It seems to me that most organizations spend an inordinate amount of energy on talent acquisition. Finding, attracting and capturing the best talent is central on every organization’s radar. But the value derived from new talent is only realized if the talent can be retained long enough to tap its treasures.
Perhaps our interest in acquiring talent is human nature. We love the thrill of the hunt as well as the chase – it’s exhilarating, and if we catch our prey, we feel rewarded. Having collected the prize, the thought of owning it, maintaining and nurturing it does not give us the same heady dopamine spike we felt during the hunt. And so it is with retention. Having selected top talent, it becomes hard work to draw out its potential, develop its capabilities further and satisfy it to make it want to stay.
This problem exists everywhere, but multi-nationals operating in high growth markets are feeling the brunt of its effects: high turnover, low commitment, and job-hopping.
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