Why It All Comes Back To Company Culture

As multinational companies work to regain their footing in what everyone hopes is becoming the wake of the COVID-19 pandemic, the competition for executive talent and the best and brightest at nearly every level of the corporate Organisation Chart is becoming intense.

While many service industry employers are struggling to attract entry-level talent, most global companies are finding that some of their top managers are leaving for the competition, or perhaps simply moving to more progressive work environments.

Recruiters are working over-time to meet the demands of companies that cut back during the global outbreak, and which now are overly reliant on too few steady performers who have been pushed very hard for too long.

As the global economy ramps up, professionals across a wide swath of industry spaces and management job functions are finding once again that they have good options to consider a career move, and more of them are again exploring what’s possible with other employers.

Yet companies planning on the same approach to employee retention may find themselves on the wrong side of the talent market pendulum shift.

This is especially true for organisations that believe they can retain talent with paltry inflation-level salary adjustments for high performers who, in some cases, have gone nearly two years without a move in compensation. This simply won’t be enough to keep top performing professionals, particularly in a jobs market that is heating up.

Wage stagnation is a real problem that demands equal measures of awareness and creativity to resolve for corporate benefit.

First, consider the market benchmarks for key roles and top performers just get a sense of how the business environment is putting a premium on in-demand roles at the management level, and for specialised skills such as digital marketing, sales force automation, corporate tax, engineering and other in-demand roles.

Then apply the filter of your best people and where they stand in terms of annual salary, bonus potential and other employment value adds with the organisation. Odds are, some of your best-performing people may be compensated significantly under market, and odds are better yet that they are already mindful of the gap.

Top management leaders must be shown not only the slippage in compensation for some key people in their organisations. Yet, they must also understand the implications of losing those individuals, both in time, money and resources required to recruit their successors, who themselves will need time to get up to speed.

Take a look around. Talk to people, and you may soon learn that there is a level of restlessness in today’s global corporations. Employees have questions about remote work, and how it may (or may not) fit into their future with your organisation. They have questions about the work they’ve been doing and when it will be recognised in some form or fashion.

They also have dreams and career aspirations, and if you can tap into those and act to retain the company’s high-impact players, the entire organisation can set its sights on what’s next, with confidence. 

Copyright © TRANSEARCH International


  • Teilen

Other Thought Leadership

Thought Leadership
TRANSEARCH C-Suite Roundtables: The Six Levers for Success in Times of Crisis

TRANSEARCH hosted various c-suite executives in 2022 to discuss challenges like high energy costs and supply chain disruptions. The results revealed six key levers for companies to survive these challenges: People, Culture, Leadership, Reputation, Resilience, and Proactive, Empathic Communication. The study will continue in the 3rd quarter of 2023.

Thought Leadership
Webinar - Unconscious Bias - Dr. Carlos Davidovich MD.

Dr. Carlos Davidovich MD. explores the neuroscience of biases and where they are located in our brain, the negative consequences of unconscious cognitive biases and the connection between biases and Diversity and Inclusion.

Thought Leadership
Systems-Level Thinking and Leadership for Our Times

Ponder long enough and you might recall hearing at a business conference or reading a blog post from a renowned futurist, author or social commentator some time ago that while things to come remained as always unpredictable, it was likely that the pace of change in our times would indeed accelerate. Looking around at the ways our lives and work have been altered in the past 24 months alone,

Thought Leadership
Webinar - Succession Planning: Passing the Baton - John O. Burdett

Breakthrough technology, uncertainty, the increasing speed of change and the redefinition of 'work' demand an organisation that is a fit for the 21st century (built to change). We refer to it as 'succession planning.' A better description would be 'planning for success.'

Thought Leadership
CEO Conversations: What Boards Expect

TRANSEARCH India invited a panel of CEOs and board members, to discuss the topic – 'CEO Conversations: What Boards Expect'. The panellists also debate the importance of agility, culture, succession planning and diversity as key tenets of good governance and purpose-led leadership.

Thought Leadership
Webinar - The Way of the Dolphin - John O. Burdett

More than anything, agility is a way to think, it’s a mindset, and as such, without 'leadership' you still don't have much. The type of leadership required exudes, encompasses, encourages, and expresses agility in everything the leader does. Which leads us to the 'The Way of the Dolphin'.

Thought Leadership
Replacing Fear With Fortitude

One of the reasons a weekend respite from one’s executive leadership responsibilities – or a longer holiday break away from the office – can be so productive for one’s state of mind is because it allows us the time to reflect on our work and absorb important lessons learned by others. There is no shortage of illuminating quotes, allegories and simple epiphanies circulating on the Internet,

Thought Leadership
Holding Firm In The Storm, Aligning For The Future

While so much of the world around us is changing, there will come a time when people around the world will look for signs, evidence and leaders in whom they can believe and put their trust for better things to come in the future. There is no better economic and social flashpoint to prove this point than the continuing global struggle to contain the spread of COVID-19,