Recognition helps firms retain talent, says consultant

PETALING JAYA: Organisations that successfully retain talent all demonstrate the ability to recognise and meet certain needs of their employees.

While financial considerations are of obvious importance, there are other more important factors that determine just how successful organisations are in retaining their top talent.

Psychologist Dr Goh Chee Leong, who is vice-president of HELP University College, said high performers needed to feel that there was an alignment of their talents with their job functions.

“The simple psychological reality is that people want to be successful in their work and they want to do what they do best,” he said in an interview. “Top talent will leave when they perceive that their gifts and abilities are not being fully utilised or recognised.”

According to Dr Goh, who has served as a corporate consultant for various organisations in the region, organisations need comprehensive systems that identify, manage and reward talent within the organisation.

“Having a clearly-defined career progression pathway and development plan is also essential in retaining top talent,” he said.

Top performers were often “ambitious and driven individuals who want to be part of organisations that will provide them with a well-defined pathway for further growth,” he added.

Another key element in talent retention is leadership and people management. The old maxim still holds true that “people don’t leave companies, they leave their bosses”.

“When organisations successfully create a culture of leadership that enables growth, achievement and ownership among the team, people are more likely to stay,” said Dr Goh.

Dr Goh is one of the 12 speakers who will be discussing talent retention and other key talent management issues at the upcoming Asia Strategic Talent Management Forum 2008.

Other speakers include organisational and clinical psychologist George Kohlriesser, MindValley CEO and co-founder Vishen Lakhiani and Johnson & Johnson Global Talent Management director Roshan Thiran.

The forum, which is organised by training firm Leaderonomics Sdn Bhd, will be held on Nov 13 at the Sime Darby Convention Centre.

Its key sponsors are StarBiz, Sime Darby Bhd and Westports Malaysia Sdn Bhd.

Tickets are priced at RM950 per participant.

For more information, call Ang Hui Ming at 03-7957 5809/5804 or e-mail conference@leaderonomics.com or log on to: http://www.leaderonomics.com/conference/talentmanagement2008.html

Story excerpt from The Star, Starbiz B5, 1 November 2008