Tuesday, April 23, 2013

Top Reasons Why Companies Fail To Keep Their Best Talent

I was going through this post on linkedin today and Eric mentioned top 10 reasons why best talent leaves big companies, as I have some insight one the same, would like to share which point I feel are relevant.

So here's my top reason due to which great people leave companies.

  1. Virtual Tags: Every one of us are masters of a certain field or certain tool, as humans do stereotype hence managers and HR does the same, a virtual tag is give to all the employees based on employees expertise, now all the current and future work is based on this tag, even after promotion this tag doesn't leave our tails. Worst part is most of the employees are not happy about this tag, and want to get out their current tag or eventually want to change their jobs.
  2. Failing to find a project which ignites their passion: There is always something which is more financially viable for a company and companies really want to keep on working n the same, if company is working on something for a long time then there is an employee who is getting wear out due to this, may be this regular work was exciting in the beginning but not anymore, above all work on something new would require resources and money which a company might not willing to apply hence, employee want to change.
  3. No discussions on career development: Normally the average number of discussions done for an employee as far as career development is concerned is only 2 by early meeting, normally at time of appraisals and a normal performance review. Even for a great talent it only 2 meeting in a year. If someone asks any employee what they will be doing in 5 years, no one will have answer for the same. No one has a clear guded path where thye are going, simply another reason they leave.
  4. Full Control: This is another thing which I personally experienced, not letting go, top manager may give their precious project to a great talent, but they would like to have supreme control on the project, which is like I trust you but I don't  trust you, I would do the critical thing, and If I forget something then its your fault, on the talent part this is misleading as no full control means no control at all. So either trust him or not trust trust him. I am not saying occasional peaking in the project is bad, it can be of great help, but control should be in one hand only.
  5. Top Talent Works With Top Talents: If you are the best because you work with the best, top talent needs to work with other top talents, if some top talent is laving the company, or the number of top talents are reducing, simply means all the top talents will eventually leave.
  6. Vision: According to a study most of the employees of a company are unaware of vision of the company and if some says they are aware then it will be a different version then the actual one, great talents will leave companies like this as soon as they get a chance.
  7. Ideas: great talents will have great ideas, they would like the management to hear them and implement few if they like them, in a company which will never listen and if they do listen then do nothing about it, you won't find great talents here anymore.

Please comment below let me know you views.
Thanx
Anshumaan Bakshi