Management Tip of the Day: How to Retain Talent in a Recovery

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile MARCH 8, 2010 How to Retain Talent in a Recovery In an economic recovery, top talent — fed up with no bonuses and low morale — may want to jump ship as soon as the job market picks up. Here are three things you can do to keep your top talent where they are: Launch efforts to rebuild trust. One of the things that suffers most in a recession is the trust between employees and employers. Show your employees that what was done in survival mode is not the norm going forward. Adjust compensation and benefits. Keep your radar tuned to the job market and any signs that it is heating up. Adjust salaries to make up for lost bonuses and raises and to match the market. Know your top talent. You not only need to know who they are, but what they want. Communicate with them regularly about their careers and how your company can support them. Today's Management Tip was adapted from "In the Talent War, the Ceasefire Is Over" by Michael Watkins. Read the full post and join the discussion » Share Today's Tip: RELATED PRODUCT The First 90 Days: Critical Success Strategies for New Leaders at All Levels Harvard Business Press Book One quarter of all managers in major corporations enter new leadership roles each year. Whether their assignments involve leading a work group or taking over as CEO, they face very similar challenges — and risks — in those critical first months on the job. ADVERTISEMENT Follow the Tip: BEST SELLERS 10 Must-Read Articles from HBR Guide to Better Business Writing HBR 2009: A Year of Management Ideas HBR's Must-Reads on Managing Yourself How to Get the Right Work Done PREVIOUS TIPS Don't Get Defensive, Ask Questions 3 Ways to Transform Your Toxic Workplace 3 Tips for Giving High Performers Feedback Define Your Company's Purpose in a Sentence Why You Should Hold Office Hours 4 Tools for Battling Change Resistance Regain Control of Your Inbox 3 Tips for Saying Yes to No How to Handle the Silent Treatment How to Battle Job Boredom HBR Online Trial Access HBR's in-depth business archives FREE for 14 days. Register today » UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "Management Tip of the Day" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2010 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 1-800-545-7685 (617-783-7600 outside the U.S. and Canada)