We know the talent war is real, but now it has shifted internally. In the increasingly competitive employment landscape, it has become more challenging not only to attract but also to retain employees. That means for all your effort spent attracting outside talent, you should spend twice as much time engaging your current workforce.
In the days when hierarchical corporate structures prevailed, talent engagement and retention was less burdensome. Talent you wanted to retain were simply promoted to a new, higher position and title. In today’s flatter organizations, it is more challenging for employees to envision a clear career path for themselves within a single organization – and hence, more difficult for employers to retain talent.
When more companies had hierarchical structures, there were a lot of conversations about climbing the career ladder. Today conversations should be around the concept of career maps, which can also include horizontal segments. To adapt, employers should emphasize developing transferable skills and broadening work experiences – and de-emphasize titles – within their organizations.
Career development in a flat world
As with most relationships, communication is the cornerstone.