Retention management | Succession planning

It is becoming increasingly difficult to identify qualified employees and to retain them long-term.

Retention management:

For many employees salary is not the determining factor in their loyalty to a company. Performance-related bonuses, opportunities for personal development and other benefits are far more relevant in retaining talent, increasing loyalty and minimizing staff turnover.

For the organization it is of strategic importance to keep the transactional and opportunity costs of such staff turnover to as low as possible and, at the same time, to avoid to avoid a “brain drain” to competitors and other third parties.

Succession planning:

The traditional sequence in succession planning starts with the identification of key positions and a prediction of when successors will be needed to fill these positions based on factors such as retirement and turnover. The next step is to identify suitable candidates in the existing internal talent pool and then to prepare them for their new tasks with a systematic program of personal development.

Retention management | Succession planning

• Development of an enterprise-wide strategy to retain talent and plan succession in key positions
• Consultancy and implementation of strategic competence management systems with defined management tools
• Introduction of retention and succession planning instruments including retention controlling