and match an employee’s skills and abilities with their interest and passion in a role that is critical to the business and allows them to succeed in the organization. Employees are motivated by different aspects of the job, such as variety, autonomy, and decision authority which add challenge to a job. An employee will experience internal motivation from his/her job when that job generates three critical psychological states:
1. Personal responsibility for the outcomes of the job
2. Work must be experienced as meaningful by the employee
3. The employee must be aware of how effective she/he is at converting her/his effort into performance
Retention Strategies
As mentioned earlier, the two tightest employee groups that organizations will need to focus their retention efforts on will be older workers in leadership positions and top talent with critical skills.
Knowledge Transfer Programs
The most common strategies that companies use to manage the loss of knowledge from retiring executives are the following:
1. Implementing/enhancing succession planning programs (59%)
2. Providing employees training and professional development (53%)
3. Increasing employee recruiting and retention efforts (45%)
4. Implementing or enhancing mentoring programs (35%)
5. Inviting retirees/future retirees to be consultants/trainers (25%)
Retention Culture
Companies should focus on employee commitment, rather than satisfaction in retaining their top talent. For example, an employee’s relationship with his/her manager is strongly linked to employee satisfaction, but has little impact on organizati