Research Reveals Six Key Drivers for Inspiring and Retaining Top Talent

“Take my 20 best people, and virtually overnight, Microsoft becomes a mediocre company.” - Microsoft Chairman Bill Gates

Great leaders are always of the lookout for talent and recognize the contribution and importance of other people in their success. Talent Management has a great article titled “Taking the Talent Pulse: What Drives High Potentials?” discussing the 2007 Talent Pulse study by global HR consultancy Hewitt Associates. The study surveyed and interviewed nearly 750 high potentials and their managers in seven Fortune 500 companies. The research identified the following six key motivators that drive the performance and engagement of high potentials:

• Motivator No. 1: Job Fulfillment/Challenge: “High potentials are most driven to work on projects they consider challenging, intellectually stimulating or strategically impactful….. Underutilization frustrates them.”
• Motivator No. 2: Total Compensation: “…Hewitt found achievement-driven high potentials place great value on how much money they make…. Talented employees expect their pay to accurately reflect their level of contribution, personal effort and to differentiate them from average performers. For them, total compensation also serves as tangible proof they have accomplished, if not exceeded, their goals.”
• Motivator No. 3: Opportunities for Advancement: “High-potential employees continually feel the need for upward mobility. They recognize that progression goes hand in hand with development, learning new skills and having new experiences, and they expect a steady stream of opportunities in the near term, not years down the road.”
• Motivator No. 4: Good Work-Life Balance: “According to high potentials, a good work-life balance includes much more than simply the number of hours logged at work. It extends to the amount of travel required, the extent of sacrifice of personal life for professional success and the degree of flexibility in terms of how and when their work gets done. There is a constant struggle between maintaining quality of life with the drive to achieve, an aspiration that frequently results in a highly demanding and stressful work schedule…. The message to leadership is: ‘Honor and respect work-life balance; give us a chance to breathe.’”
• Motivator No. 5: Being Linked to Business Results: “Top performers want to play a key role in the organization. They want projects that yield high impact on the business. High potentials yearn to understand how their efforts contribute to the success of the business and its customers.”
• Motivator No. 6: Integrity: “Still affected by the corporate governance scandals that have plagued big business in recent years, high potentials said they want no part of any organization that even hints of acting in an unethical fashion. Their rationale is simple: If they are expected to throw their heads, hearts and souls into their work, the company’s leaders should be willing to be open and transparent about their conduct.”

It’s the responsibility of leaders to create an environment where people can grow and develop to reach their full potential. The growth and development of people does not just happen, it requires focused attention and constant effort. The key drivers listed above provide a great start for those leaders wanting to create an environment to retain their top talent. Consider the above six drivers:

• Rate how well you are doing on each of the drivers on a scale from 1 to 10?
• Ask some of your top performers to do the same.
• Compare the results.
• What changes do you need to make?