Strategies To Retain The Best Of Talent In The Organisation

As a businessman, it is impossible to scale up the business just by doing everything himself. The key is people, who will help a company grow with their expertise and experience.


An entrepreneur needs to get the right triggers at right time, so that it improves his business and life of people associated with his business. As a businessman, it is impossible to scale up the business just by doing everything himself. The key is people, who will help a company grow with their expertise and experience. That is exactly how one can make a scalable company, scalable product, and scalable service. In this fast-moving world, where young talent and top young talent happen to be highly educated and highly aware, it is very difficult to retain them.

Thus, we need to focus on the five simple strategies to retain talent.

Involving top talent with the vision: An entrepreneur should ensure that the top talent of the organization knows the direction and vision of the company. They should know where are they heading and where the company is heading. It is the entrepreneur who is solely responsible for giving directions to the talent. Top talent is hungry; they are like those horses of a race who will run for the company’s goal. Thus it is very important to set in a direction for them. If an entrepreneur does not have a direction, he will not be able to give them a direction.

Giving flexibility performers: One should ensure that he is giving employees flexibility enough; there should be a balance so that employees do not break the system but come out with great ideas, and initiatives that are going to back them up. An entrepreneur’s role is to become a strong coach, to say “You go ahead I will be always standing behind you if you fail”. The moment an organization’s talent has that feeling, they will work for the company as if it is their own.

Honest and open communication: Whether is about products or services, customers or quotations, they need to feel it is theirs, and most of the time we miss this part. We hide a lot of things knowingly and sometimes unknowingly from employees who are worth sharing the information. Once important information is being shared with employees, they feel accountable for it. Honest and open communication is key to achieve success for entrepreneurs. It empowers employees as well.

Optimal rewards and recognition: Top talent should be rewarded and recognized on regular basis, not in terms of favoring them or giving them something extra. We need to set up a reward or recognition mechanism, that helps them achieve the results, and as a byproduct, they get recognized and rewarded. A contusive environment should be created for them to work and produce results. The reward and recognition methodology has to be absolutely, meticulously designed so that one can retain the top talent.

Clear Career Path: If we don’t go out of our houses knowing where we are heading, we might have lost the path. If one wants the top talent to be with the organization, and if they need to have a career path. They need to have a career goal. They need to see themselves growing every time. That is the very basic need of human need. As mentioned earlier, top talent is hungry, this talent wants to achieve, hence, if they are not shown proper career paths, they will soon lose interest and move on to take another path. Because they are performing, any organization would like to hire people who perform.

If an entrepreneur manages these above-mentioned steps religiously, he will see immediate results in the retention of talent. With retention of performing talent growth will follow both in terms of business revenues and profits.

(The view expressed in this article is solely for BW People publication, authored by Dr. Yogesh Pawar,  Founder School of inspirational leadership, Chairman Association of Inspiring Syndicate of Entrepreneurs.)

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