Human Capital Development Newsletter May 2002
Welcome to our May Edition of our Human CapitalDevelopment Newsletter for 2002
This month, I want to share three critical issues with readers:1.The War for Talent isn’t over, it has only just begun2.Retention remains one of the biggest challenges anorganisation faces3.Employees are re-evaluating their psychological contractwith you in the light of recent experience
In any market the ‘must have’ staff remain mobile, flexible and easilylost. Attracting and retaining top talent in this bracket is really aboutengagement and enabling specific work experiences.Relationships can be critical as can be giving recognition. In somecases fast track programs and promotion opportunities can be importantto these staff. In other cases it can simply be money they are looking for.Flexibility and customisation are keys to attracting and retaining thistalent. HR must become a strategic adviser and support to the Line tomeet this challenge.The bulk of staff fall into two other categories: ‘nice to have butreplaceable’, where the bulk of staff are; or ‘can do without them’ wherethose you would like to replace, remain. Both of these groups carry asignificant investment cost, and getting the best out of these staff is anongoing challenge to management.This issue reviews some ways for Human Resources to achieve thesegoals and assist their company to remain competitive.
John M. Read