According to recent research by the Society for Human Resources Management (SHRM), human resources priorities have shifte in the last couple of years. Most notably, “Developing the next generation of corporate leaders” was previously rated as the most important challenge by 29% of respondents. Last year it jumped to 52%. What got the highest rating? You probably guessed it: Finding and retaining top talent. Here is a snapshot of the SHRM findings:
Here are some practical takeaways from this survey:
1. Invest in leadership development. Leaders who stumble through communication, teamwork and conflict situations leave their entire team directionless and at a loss. The more aware your leaders are of how to reap positive accountability, increased professional presence and increased personal effectiveness in their team, the more productive the organization will be. Moreover, employee retention increases with a strong leadership direction and attention to employees’ careers.
2. Plan for legacy transfer, before it’s too late. If your organization still hasn’t developed a pipeline for each critical position, now is the time to make a plan and start implementing it. Don’t let technical expertise or organizational knowledge become vulnerable due to impending retirements or employee change over. There are many ways to connect emerging talent with the knowledge centers of your company, and foster exchange. Consider partnering them on projects, connecting mentors and mentees, and intentionally planning projects to double up on skill sets, one experienced and one emerging talent in your company.
4) Drive and sustain real accountability. Foster a culture of personal accountability. Surprisingly, people are drawn to accountability, and once they embrace it at work, it spills over into their personal lives, helping them achieve more, both at home and in the workplace.