How to Retain Top Talent in a Dismal Economy


Top talent is your biggest source of competitive advantage. In a dismal economy, every CEO will need to develop strategies to retain top talent in order to accelerate business results. Lack of focus on top talent retention could have a major negative impact on the strength of your talent pool.

ONE: What is Top Talent?

  • Passion + competence = extraordinary results
  • Passion is more important than anything else – you love what you do
  • Competence = skills, experience, behaviours – emotional intelligence
  • Extraordinary results = exceeds 360 degree expectations
  • As hire As

TWO: How to Spot Top Talent and Break Down Silos

  • Differentiation: 20-70-10 (ABCs)
  • Strategic job functions (10% of workforce is most strategic)
  • Succession Planning (internal and external)
  • Strategic Planning
  • Attend Leadership Development Programs

THREE: How to Retain Top Talent

  • Hold people accountable for retention – it’s not about the money!
  • Create personal connection at all levels
  • Develop a career plan to enable top talent to achieve their full potential
  • Dial-up praise and recognition
  • Dial-up empowerment
  • Involve top talent in strategy development
  • Involve top talent in strategic projects
  • Be flexible
  • Invest in top talent
  • Create female inclusive work environments

Adapted from the forthcoming book: The Talent Advantage by coauthors Dr. Alan Weiss and Dr. Nancy MacKay, published by Wiley.