Employers Do Not Manage To Retain Their Top Talent – Why Does That Happen?
Every single corporation out there gains its competitive advantage through top talent. That is especially the case in the high tech industries, those that compete on innovation and creativity. The top companies will always employ proper management techniques and we are led to believe that they always use the best career development programs. Unfortunately, this is not actually the case.
Statistics highlight the fact that various different companies that are really rich and strong in most industries currently focus on talent retention, not on fostering and development. There is a clear career development gap that appears between what the young managers expect to receive from employees and actual received services. We basically see many problems when referring to coaching, mentoring, direct manager support, senior management support, training, virtual team work, marketing and product division functioning.
The younger managers almost always focus on coaching and mentoring. However, when looking at what the employers currently offer, we do not receive such quality. This gap is really high, especially when referring to training. While younger managers believe the fact that they need to train employers, the services that are offered by companies is really low. The gap leads towards many managers choosing to work somewhere else as what is necessary is not offered.
Statistics show that around 95% of the managers that do not receive the training that they want or need will look for another job or will be focused on networking activities. Most will leave the company in up to 2 years whenever suitable training is not offered. Companies basically fail to accommodate top talent employees because of different reasons.
After talking with many large company managers, it was shown that one of the main reasons why coaching and training are not offered is the fact that this is costly. At the same time, coaching does require a lot of time and money for the apprentice and the mentor. We are faced with many things that are not properly understood about this but companies will simply not train the workers as they will most likely leave. This leaves the investment not warranted.
We have to understand that top talent retention stands out as a highly expensive proposition. The company has to meet talented employees expectations or often need to find new talent as employees leave. This is a tough decision to take.