Vinnie Bhadra
Posted On Monday, November 08, 2010 at 12:45:07 PM
Every organisation boasts of a niche set of star-performers. But what if he/she chooses to walk towards the exit door? An organisation needs to harbour a different approach while retaining such employees. After all, stars aren’t born daily, right?
How does one define a ‘star performer’? Insightful? A good leader? Highly persuasive? Influential? Somewhat shrewd? Is the super talented marketing manager who never misses his sales target considered a star performer? Or the capable team leader who always leads a bunch of happy colleagues a star? Experts say that the answer to the above questions is an astounding ‘Yes’! Everyone wants to work with a star and firms (read: competition) will try constantly to lure the best performers. After all, they are always in-demand, right? Therefore, how do you retain such performers? Also, the trend of several individuals joining the entrepreneurial bandwagon is also catching up. How would you react in such a scenario? Handing out revised increment letters or offering fancy designations may not be workable solutions. Hence, the onus is on HR to come up with more innovative ways to retain them.
“It is very difficult to retain an employee who is taking up an entrepreneurial stint in his/her life, but the trick lies in being innovative enough to satisfy his/her quench to expand in their careers,” says Mukund Menon - head of business HR relations worldwide, Mahindra Satyam. It is important to remember that the star employee is someone with a great deal of experience and storehouse of skills and knowledge; hence, trying to analyse what will keep them rooted with the organisation has to be the first step that HR can take.
Shedding light on the same, Sanjiv Kumar, senior VP and group head - HR and productivity – People Group says, “One key lever is providing an opportunity to work on new projects or assignments that build skills and offer occasions to shine. It could be in the form of a team project that brings the star employee together with other star performers from different departments or functions; or could be a solo project that demonstrates his/her confidence.”
Appreciating an employee and acknowledging his/her efforts can go a long way towards ensuring employee motivation. “In order to get through the rough times and keep the right people actively engaged, it is necessary for companies to use all the resources at their disposal,” says Nandeeta Wagh, GM-HR, Johnson Controls. HR should also try to analyse what matters the most to employees. Non-monetary perks? Development opportunities? An enriching career growth path? Lucrative projects that compel them to challenge their competencies? Also, HR should gauge their behavioural patterns to find out their anxiety and frustration levels that may have played a huge role towards influencing their decision of moving out. “Now is the time for the HR personnel to get innovative and focus on the total value proposition. This is the right time to invest to find out what brings value or what employees value,” concludes Wagh. Clearly, employee retention is a huge HR challenge but retaining star employees is a bigger one. And hence, HR has to be prepared to overcome this challenge tactfully.
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