We've heard it over and over again!
It's a fact. Finding and recruiting talents in Japan is very difficult
if not impossible to do at all (refer to HRA Editorials of Nov & Dec 2007 for a more comprehensive discussion on this topic).
And when companies do find talents and
recruit them, the next big challenge is how to retain them. Companies
have begun responding to this challenge by introducing and adapting
so-called retention strategies and programs such as more competitive or
generous compensation package (e.g., stock options, "golden handcuffs,"
deferred bonus payouts, etc.), flexitime, telecommuting, paid
sabbaticals, in-house nurseries, and other work-life balance
initiatives.
Of course, these initiatives are not
bad. In fact, they should be continuously pursued and refined as I
believe they do help in retaining talents. But I believe that there is
more to it than meets the eye.
For me, the challenge of talent
retention and management springs from the very first step: RECRUITING.
However, let me qualify it by using Jim Collins' (author of
best-selling books Good to Great and Built to Last) semantics: recruit the right people on your team.
This simply means that if you have the right
people, the challenge of managing, keeping them motivated, and
retaining talents becomes secondary in nature. And I believe this is
true.
As an HR recruiter, I have met a lot of
people with different reasons as to why they would be interested in
seeking external opportunities. Some of them cite compensation, long
working hours, location, restructuring due to M&As, etc. However,
most of them, whether they realize it or not, have "fit issues" as the
primary reason for jumping ships.
And this I believe clearly supports my thesis---that the "fit issue" is synonymous to finding the right people
for the job and vice versa. Hence, if you really want to solve your
talent management and retention issues, return to basics. Find the right people first and you have already won over talent retention and consequently the war for talent.--JK
