Talent management, a necessity for employee retention

Companies have initially invested efforts to attract and select the best individuals from excellent educational backgrounds. The primary goal was to entice and engage young recruits who possessed the skills to become driving forces for the organization's present performance and future transformation. The most involved companies then developed specific and appealing programs tailored for a selected group: the Graduate Programs. These programs have a dual purpose: firstly, to attract top talent by fostering their growth within the organization, and secondly, to achieve significant and rapid returns on the resources invested in these recruitment endeavors.

Ambitious Graduate Programs have seamlessly integrated immersive experiences that leave a lasting impact, as well as interactions with influential personalities both within and outside the company. For instance, they have implemented shadowing programs with the Executive Committee (COMEX), alternative COMEX structures comprising young talents to infuse novel dynamics, and temporary detachment arrangements for project-based assignments (secondment).

Nevertheless, these generous, comprehensive, and elitist programs are not a miracle solution and can have unintended consequences and some backlash. They instill in some participants a triple sense of uniqueness, instant gratification, and entitlement. As a result, after completing the program, some participants may develop exaggerated expectations.

These programs are no longer sufficient for employee retention, despite the interest and positive judgment of these high-achievers regarding their experiences. Once the exhilarating and extraordinary period of the Graduate Program is over, participants are required to return to a normal position, which can feel contrasting for some, compared to the excitement of the program. Their renewed commitment may diminish over time.

The aftermath can be somewhat challenging for HR, leaving managers feeling ill-equipped to address the situation.

This trend of departures is evident throughout the organization, affecting high-potential individuals as well. Once the initial gratifying training period concludes, they may choose to leave the organization relatively quickly, in search of opportunities elsewhere that provide a greater sense of purpose, adventure, and the chance for expanded or different responsibilities.

First and foremost, let us reaffirm that talent management extends far beyond managing high-potential individuals (HIPOs).

We must redefine the semantic scope of the term "talent" by expanding its original meanings, which have been lost in the French and English languages but still exist in Italian and Spanish. In these languages, talent refers not only to specific abilities and gifts but also to inclinations and aspirations.

Therefore, Human Resources departments need to collaborate with managers to create conducive environments that enable talented employees to utilize their strengths to drive performance. Simultaneously, these conditions should offer opportunities for personal growth through engaging projects and assignments. Clear action choices should be offered to them as well. Management development programs should therefore incorporate this objective by equipping managers with the means to actively foster and encourage talent development through a formal framework. By doing so, they significantly contribute to enhancing employee satisfaction.

This objective can only be achieved if it remains aligned with the daily activities that drive operational performance. The challenge lies in directing energies and aspirations towards actions that provide a sense of personal fulfillment. Training workshops on subjects like organizational design, empowerment, change sociology, fostering and supporting innovation, as well as talent identification and competency forecasting, have become essential. They equip managers and leaders with the necessary tools to effectively participate in the "War for Talent" with a strong advantage.