Every organization boasts of a niche set of star- performers. But what if he/ she choose to walk towards the exit door? Discusses the need to harbour a different approach while retaining such employees. After all, stars are not born daily, right?
How does one define a star performer? Insightful? A persuasive? Influential? Somewhat shrewd? Is the super talented marketing manager who never misses his sales target considered a star performer? Or the capable team leader who always leads a bunch of happy colleagues a star?
Experts say that the answer to the above questions is an astounding yes! Everyone wants to work with a star and firms will try constantly to lure the best performers. After all they are always in- demand right? Therefore how do you retain such performers? Also the trend of several individuals joining the entrepreneurial bandwagon is also catching up. How would you react in such a scenario? Handing out revised increment letters or offering fancy designations may not be workable solutions. Hence the onus is on HR to come up with more innovative ways to retain them.
It is very difficult to retain an employee who is taking up an entrepreneurial stint in his/her life but the trick lies in being innovative enough to satisfy his/her quench to expand in their careers. It is important to remember that star employee is someone with a great deal of experience and storehouse of skills and knowledge hence trying to analyze what will keep them rooted with the organization has to be the first step that HR can take. Shedding light on the same, Sanjiv Kumar senior VP and group head-HR and productivity – people Group says, “One key lever is providing an opportunity to new projects or assignments that build skills and offer occasions to shine. It could be in the form of a team project that brings the star employee together with other star performers from different departments or functions or could be solo project that demonstrates his/her confidence. Appreciating an employee and acknowledging his/her efforts can go a long way toward ensuring employee motivation. In order to get through the rough times and keep the right people actively engaged. It is necessary for companies to use all the resources at their disposal. HR should also try to analyze what matters the most employees. No monetary perks? Development opportunities? An enriching career growth path? Lucrative projects that compel them to challenge their competencies? Also, HR should gauge their behavioral patterns to find out their anxiety and frustration levels that may have played a huge role towards influencing their decision of moving out. Now is the time for HR personnel to get innovate and focus on the total value proposition. This is the right time to invest to find out what brings value.
Clearly, employee retention is a huge HR challenge but retaining star employee is a bigger one. And overcome this challenge tactfully.