Lancelot Cutinha, VP (Human Resources), BIG 92.7 FMAttrition Management In 2008, companies will witness increased attrition because of the growing economy. This calls for an out-of-the-box approach to retaining talent and creating new pools. Here are some ideas to toy with:
• Continue to nurture and reinforce the right culture. This entails role-modeling of core values by senior management, inculcating the right values in new-joinees and constantly reinforcing them.
• Keep your associates constantly on your radar. This will help detect signs of disengagement.
• Exploit the talents of your associates.• Treat associates like customers. Listen to them.
• Consider your ‘A’ players for surprise rewards. Unexpected rewards have the power to emotionally fetter employees to their companies.
• Have a career plan for all employees. Managers should plan the careers of their direct reports by understanding their aspirations, advising on strategies, and plugging their competency gaps.
• Blue Oceans. Start fishing for talent in blue oceans rather than resort to traditional sources. This will enable firms to find new, fresh talents.
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist)
