It’s one of the most discussed topics in my meetings with business owners of all industries and countries. A shared interest that remains unsolved after decades.

How can we retain talent?

The reason why this question remains unanswered is that it is based on an approach that is not correct: that you should retain talent.

Retaining is a similar concept to capturing, kidnapping, or locking people up, you get the idea. It’s based on the idea that you should be doing something to keep people by your side, instead of making it natural to share time and space on a professional project, because there's a mutually beneficial relationship.

That's what I told a client of mine a while ago, when his Chief of HR was trying to make him change the compensation system and add more training to motivate people and retain them “properly”.

1. First, you can't motivate people, because motivation is intrinsic, not extrinsic. They either come motivated or unmotivated, but you can only promote the second one.
2. Secondly, the compensation system is the rewarding of a result, not a tool to create it. Stop trying to balance out your lack of results with money.
3. And finally, training is a method to help the employee grow personally and professionally and offer more results to your company.

So, instead of looking at your talent as someone to capture and retain, look at your talent as someone to seduce and benefit from for a long period of time, but not for ever. Accept it: there will be an end to this journey, but you must make it memorable for both, by making the employee think "What a great company to work for!" and for you to think "What a great employee to hire!"

In conclusion, if you want to stop retaining talent and start benefitting from it, start by changing your viewpoint and focusing on the outcome (performance, learning, relationship...) instead of the input (compliance, control, processes...).

Or, simply ask yourself: How can I create an environment that promotes both personal and professional growth for both my business and for my employees?

© Oriol López 2022

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