/blog > archive > February 2014

The quality of the talent within an organization and the ability to retain that talent provides corporations a powerful competitive advantage. Additionally, research shows that well‐trained employees are more productive, more engaged and remain loyal to the company. Therefore, it is no surprise that companies devote a lot of time, effort and money to corporate learning. According to the American Society for Training and Development, U.S. firms spent about $156 billion on employee learning and development in 2011. Although most organizations have internal training programs, for those who rely on external providers, formal training is costly and typically requires paid time off for the employee. More and more companies are utilizing online learning as a cost-effective alternative to traditional training programs for its flexible schedule, easy access to courses and more time efficient way for employees to expand their skills and knowledge. However, despite the focus on training, most companies…

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Target People Image copy

http://www.forbes.com/sites/mikemyatt/2012/12/13/10-reasons-your-top-talent-will-leave-you/ As referenced by the article in Forbes, 10 Reasons Your Top Talent Will Leave You, “Few things in business are as costly and disruptive as unexpected talent departures”. In 2014, organizations need to look for new and unique ways to engage, develop and inspire their Talent. The most successful growth oriented companies recognize that people drive the success and /or failure of an organization, so investing in their people is essential. It is important to mention that increasing salary and/or benefits is one way to motivate and engage employees but is rarely enough to retain them long term. Organizations need to not only provide competitive salaries and benefits, but they need to provide better tools to help their employees take ownership and drive their own careers and create transparency in the process of internal mobility. With the cost of replacing employees ranging between 30 percent and 300 percent of…

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War on talent

Most companies recognize the value in attracting and retaining the right employees. With growth projections for the US workforce of 4.4% from 2013-2017, it is also predicted that there will be accelerated turnover in many organizations.  Employees are expensive to attract and train, so losing employees to competitors can prove very costly. Accordingly, it makes sense for companies to have clear strategies to retain valued employees, by providing them with the information and tools they need to continue to grow – both in terms of their skill sets and their career progression. Clearly the more skills an employee has, the more valuable and attractive they are to both your organization and your competitors’ organizations. Whilst there is a lot of discussion about “Talent Management”, this all-encompassing term covers many different components of attracting, developing and managing employees.  “Career Management” or “Career Development” more specifically covers the steps an employee needs…

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