Magazine article Industrial Management

Are You Doing Enough to Keep Your Talented Managers?

Magazine article Industrial Management

Are You Doing Enough to Keep Your Talented Managers?

Article excerpt

One of the main reasons talented managers voluntarily leave their organizations is the lack of formal development training: If they can't "go higher," they go somewhere else.

This would seem to place the blame on the organization for not providing a clear path, with guide ropes, up the slippery slopes from base camp to the summit of executive management.

But consider management's point of view. Surveys suggest that todays high potential managers change jobs as frequently as they upgrade their smartphones. In a Harvard Business Review article titled, "Why Top Young Managers Are in a Nonstop Job Hunt," Monica Hamori and her research team polled 1,200 managers in their 30s. They candidly revealed that they routinely sent out resumes, contacted search firms and interviewed for jobs.

So what's a company to do? Is investing in a nomadic management corps a proper stewardship of corporate resources when there are even indications that formal development training - enhancing an employees employability - can actually lead to increased voluntary turnover?

Clearly, the key to employee development is employee retention. And the key to employee retention could be employee development.

"Stay" interviews can be a help.

Marge Watters, co-founder of one of Canadas most successful career transition firms, advocates using stay interviews to discover a manager's needs and aspirations before finding out - too late, in the exit interview - the true motivations for leaving. These are not formal interviews, she suggests, but sincere conversations around the theme of career development. Her research reveals that goal-oriented employees are more likely to remain when a course for personal growth and advancement has been plotted out by management.

Then there's the issue of on-the-job training vs. employee development.

If your organization is already offering numerous training programs, don't fall into a false sense of security. …

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