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Mission critical projects often impact not only large portions of the employee population but the ability of the company to be competitive and to carry out important functions over the long-term. In fact, some projects are so important that board members and company officers literally bet the company’s very existence on the successful outcome of the initiative. With stakes this high, the question becomes: Can company leaders afford to assign anyone other than their most talented personnel to conceive, develop, and implement these initiatives?
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In good times and bad, organizations have learned about the impact of thinking that employees are dispensable. Such thought is particularly unwise as the economy improves after a downturn.
During the past few years, companies have lopped off employees in the hundreds of thousands for reasons of economic survival. The staff gaps that resulted are now being felt as those same companies are faced with competition both for business and the top talent they still possess.
Slowly, we are seeing a shift from a buyer’s to a seller’s labor market. There may be a high unemployment problem but HR executives are still complaining about a significant skill gap, that is, a difference in proficiency between the majority of individuals in the market for jobs and those that companies want in their labor force.
Rather than having just a replacement mentality, human resources needs a more strategic approach to the situation—one that finds answers to the coming high turnover. They need a solution that also addresses the bad reputation that the recession has wrought on many companies and that identifies cultural changes that will attract new employees.
Evidence has shown a high correlation between employee job satisfaction and engagement and employee retention and recruitment.
Here are some strategies to engage and retain top talent:
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To learn more about the American Management Association, click here.
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StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.
what an individual should do to identify the knowledge, skills, and experiences needed at the next level and then get an accurate understanding of their personal strengths, weaknesses, and developmental needs to move into the desired position
four different career paths and the developmental benefits of each
determining how long an individual needs to be in a position to realistically satisfy their developmental needs
avenues an individual should consider pursuing if a needed developmental assignment within their organization is unavailable
the several key skills and functional area experiences commonly possessed by those at the top
actions leaders should take and what roles they should fulfill in the development of their employees
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About the Author
Kathryn Ullrich, author of Getting to the Top: Strategies for Career Success, heads Kathryn Ullrich Associates, a Silicon Valley executive search firm, and Alumni Career Services for UCLA’s Anderson School of Management. Kathryn also leads the Getting to the Top career development programs at the Stanford Graduate School of Business and the UCLA Anderson School of Management. Through these career programs, over 1,500 attendees have learned the career paths and skills to be successful in different functional areas including marketing, product management, public relations and corporate communications, strategic alliances and channels, sales, business development, consulting, private equity, corporate operations, and general and executive management. To read Kathryn’s complete biography, click here.
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Patience is a virtue. This pearl of wisdom has been a bone in the throat of even the most patient leader. Patience is an easy thing to talk about, but it is extremely difficult to practice. Webster’s defines patience as, “the quality of being capable of bearing affliction calmly.” Patience is the third attribute Rudyard Kipling described in the poem ‘If-:’
If you can wait and not be tired by waiting, Or being lied about, don’t deal in lies,
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Doug Moran has more than twenty-five years of leadership experience in a variety of industries. Doug is the author of the forthcoming book, If You Will Lead: Enduring Wisdom for 21st-Century Leaders. He founded IF YOU WILL LEAD, LLC to help leaders and organizations reach their fullest potential. The firm focuses on leadership development, organization excellence and information technology. His book, speaking, and consulting leverage the power of story-telling and enduring wisdom to help leaders and their organizations excel and grow.
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