Attracting and retaining talent
Better talent is worth the fight
Ask any CEO and they will say that attracting and nurturing talent is one of their top priorities and a criticial source of competitive advantage (2014 survey by The Economist Intelligence Unit, The C-Suite Imperative). But attracting and retaining talent in the company is a crucial challenge, especially when there are more opportunities on the job market or when you need very specific skills. In 2014, the average overall increase in talent retention strategy spending came up to 7%, with an especially high increase of 12% and 13% in the business and technology sectors (Bersin, 2014).
The objective of the L& D departments throughout the retention process is to remind staff that skills development plays a key role in career paths. Allowing staff members to move to a new job, role or geographical area without leaving the organization forms part of an overall loyalty-enhancing strategy and ensures that the best people stay on… For the greater benefit of the company!