Robert G. Fong of Nosal Partners says that if technology companies want to prosper and not lose their best and their brightest, they need to consider introducing talent acceleration programs to retain valuable executives. "More and more companies are only now realizing that, while talent acquisition strategies are important, talent retention is at least as--if not more--critical to a company's long-term success,'' Fong said. "The organizational cost of losing executive talent is well-documented.'' He said studies have shown employee turnover replacement costs have reduced earnings and stock prices, can affect an organization's competitive position, can trigger turnover at other levels throughout the organization, have created a loss of intellectual and developmental resources, and have disrupted and weakened customer relationships. He said talent acceleration programs must be aimed at crafting individualized development plans to ensure that an organization's best executives experience such a sense of professional growth that they are unlikely to leave.
For more on retaining talent:
- Check out this TechNewsWorld.com article [1]
Links:
[1] http://www.technewsworld.com/story/63650.html