“Top talent across all sectors of the European economy—from bankers to lawyers—are increasingly becoming fed up with roles that they feel don't exploit their skills and are waiting for a strong signal that the global economy is actually recovering to jump ship. One in four high-performing employees say they want to leave in the next 12 months, according to new survey of 35 companies in Europe published by the Corporate Executive Board (CEB). The consultancy believes the results highlight a "worrying" developing trend for businesses. While these individuals perform 21% better than colleagues, they are 10% more likely to leave their organizations today than a year ago. … When the economy does pick up, up to 65% of the high-performing employees who said they are most likely to leave, could actually do so.”
Is this really all that surprising? I liked how succinctly Kelly Services put it in a recent Smart Manager article:
“Answer one simple and telling question. When was the last time you heard of a company that dramatically downsized, severely cut spending in all areas, and, consequently, achieved noteworthy success? Think no further. The answer is never!”
So, what should you do to retain your high performers? As the Journal article suggests, give them clear direction, leadership and strong communication. How do you that? Strategic recognition is a powerful methodology for accomplishing just that, but with a double benefit. With strategic recognition, you are repeatedly positively acknowledging and appreciating the efforts of those who reflect your company values in achievement of your objectives, which communicates and reinforces those objectives with every recognition. But it also does so in a powerfully positive way, building good will and a sense of the company’s commitment to and high valuation of the employee and his or her efforts.
What are you proactively doing to ensure your high performers are loyal to your organization going forward?