Perfect Model Essay On Retaining Talent

Talent management has become a salient part of current recruitment policies in different human resource management (HRM) practices. In recent years, a paradigm shift has occurred in managing a highly skilled labor pool from "poaching" to active retainment. Predictably, or not, managing a skilled workforce differs not only from one company to another buts also from one industry to another. This brief reflection paper aims, hence, to propose a number of strategies and practical policies companies can adopt in order to better retain skilled labor force in an increasingly competitive business world.
One possible strategy to retain skilled workers is to offer more flexibility in work scheduling and functions. Given how Millennials, Generation Y, is increasingly replacing Generation X, at workplace, a generation marked by more dynamism, collaboration and job mobility, a blend of onsite and remote work scheduling can help younger worker generations balance out professional and personal needs. This can be achieved by, for example, offering staff mobility devices, more "relaxed" workspace (e.g. open space enabling more collaboration and emphasizing flatness as opposed to conventional hierarchies) and relocation across different operations area, an offering which best suits Generation Y's propensity for mobility and new professional and life experiences.
A second strategy and policy proposition can include more differentiated benefits options. That is, in contrast to conventional stock options, skilled workers can be retained at a given business by offering recreational and entertainment options in addition to standard financial incentives. These can include, for example, entertainment perks at workplace (e.g. "free" food and refreshments and play areas); city and country tours, particularly for expatriates; and "free" international flights and accommodation options in different destinations. This should ensure, if anything, work and play are integral, an important factor for younger generations of skilled workers.