{"id":499,"date":"2006-08-14T01:00:41","date_gmt":"2006-08-14T09:00:41","guid":{"rendered":"https:\/\/systematichr.com\/?p=499"},"modified":"2006-08-16T14:24:00","modified_gmt":"2006-08-16T22:24:00","slug":"stopping-the-talent-drain","status":"publish","type":"post","link":"https:\/\/systematichr.com\/?p=499","title":{"rendered":"Stopping the Talent Drain"},"content":{"rendered":"

This site has many recurring themes, but here are 2 of the most popular:<\/p>\n

    \n
  1. There\u2019s a talent drain and it\u2019s only getting worse.<\/li>\n
  2. Compensation is no way to retain your highest performers.<\/li>\n<\/ol>\n

    Obviously I was struck when I read \u201cStopping the Talent Drain\u201d in Business 2.0 magazine. ((Pfeffer, Jeffrey, July 2006. \u201cStopping the Talent Drain.\u201d Business 2.0, Volume 7, Number 6. Page 80.)) In it, they say, \u201cLaw firms and other professional services firms have a hard time holding on to their stars. The solution? Generosity.\u201d The author then goes on to describe the example company saying, \u201cAt LEGG, director level employees receive 70 to 80 percent of their hourly billings as compensation.\u201d<\/p>\n

    I\u2019ve always held firm that compensation is an attraction agent in the recruitment process, but it is not a retention agent in the talent management process. While the tagline of the article points to compensation, I think the author stumbles upon the real retention agent without recognizing it.<\/p>\n

    \u2026Because employes are given autonomy and held responsible for their results, LEGG has an attractive work environment for top talent. Highly skilled people \u2013 actually all people \u2013 like autonomy. At this company they actually get it. ((Ibid))<\/p>\n

    Don\u2019t trick yourself into thinking that compensation will keep talent around. It\u2019s true that people like to be rewarded and recognized for their work, but more important is the work environment including how people work and who they work with.<\/p>\n","protected":false},"excerpt":{"rendered":"

    This site has many recurring themes, but here are 2 of the most popular: There\u2019s a talent drain and it\u2019s only getting worse. Compensation is no way to retain your highest performers. Obviously I was struck when I read \u201cStopping…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[30,8,20],"tags":[],"class_list":["post-499","post","type-post","status-publish","format-standard","hentry","category-compensation","category-strategies","category-talent-management"],"_links":{"self":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts\/499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=499"}],"version-history":[{"count":0,"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts\/499\/revisions"}],"wp:attachment":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}