Talent management programs are geared toward attracting, recruiting and retaining top talent.
Deloitte teamed with Forbes Insights for its fourth report in the Talent 2020 series, surveying employees across major industries and global regions, to explore the changing priorities and needs of employees at global and large national companies.
Based on the results and Deloitte’s analysis of the talent market, Deloitte identified three recommendations for managers:
- Engage employees with meaningful work or watch them walk out the door. Employees value meaningful work over other retention initiatives. A majority (42 percent) of respondents who have been seeking new employment believe their job does not make good use of their skills and abilities.
- Focus on “turnover red zones. “Employee segments at high risk of departure, or “turnover red zones,” are employees with less than two years on the job and Millennial employees (those aged 31 and younger).
- When it comes to retention, leadership matters. More than six in 10 employees (62 percent) who plan to stay with their current employers report high levels of trust in corporate leadership.
Other factors such as trust in leadership, effective communication and a company’s ability to execute on its strategy can also differentiate between an employee who is committed to his or her current job or an employee who is searching for the next opportunity, according to Deloitte.
Was this article valuable?
Here are more articles you may enjoy.