Retaining the best talent

Being a manager in the ever-evolving business world today comes with many challenges. Managers today are the leaders of change; they inspire the teams to accomplish the goals and objectives while guiding them and directing them through the process. And while leading the rest of the team and helping its members achieve individual and collective goals is often rewarding, the challenges of managers’ responsibilities may keep many up at night and cause them to lose sleep.

There are many issues that could occupy a manager’s mind; however, overcoming these are the top challenges managers often face on a daily basis.

Retaining the best talent

Human capital is the most valuable asset a modern company has today. The success of any company directly depends on its employees’ happiness and satisfaction, and employee loyalty should be at the core of any manager’s goals.

According to a study by McKinsey, only 7 percent of companies that believe they recruit valuable talent think they can keep it. The issue with employee retention is clearly recognized by a lot of managers: only 77 percent of managers and senior executives active on talent-related topics believe their current retention strategies won’t work.

What employees seek in their workspace is not just compensation; it’s a competitive but nurturing environment, trust and recognition from the manager, and exciting work that allows for personal and professional growth.

Amidst the work frenzy of a fast-paced day in the life of a manager, it’s hard to hold on to employees, especially the best ones. For this reason, managers should allocate time to show interest and involvement in their employees’ success and progress and motivate them to stay long term.