Methods To Retain Talented Staff

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For the CBA, it has different methods to ANZ to retain talented staff. ‘One of the most important situations that quite happens during the economic downturn is put all people together’ (Bersin & Associates 2008). During the economic downturn, organisations would have meetings among all the staff. During the meeting, staff talks to each other, and they want to know what is happening at current moment. For the bank, was trying to inform employees about the potential future challenges and the way the bank plans to deal with these challenges. The challenge in the current downturn is the uncertainty about the future. The future economic climate is uncertain and unpredictable. Therefore, bank asked and tried the best to satisfy the needs of staff in order to retain talented staff in economic downturn. However, if the organisations are not communicating clearly and realistically with staff, the employees would worry about their job status. Some of them would leave organisations and find somewhere else. The organisation may not retain talented staff any more if they are feeling unsure of their job security. The talent discussion is the best chance to explain clearly with them and show them what organisations would do to survive the economic downturn. Sometimes, organisations have excess worry about leave of talented staff. From the Bersion & Associates finding (2008), that people are actually very loyal to their organisation. If organisation clearly state the truth, and provide a clear, well-developed plan for survival and growth, most of people would stay at organisation and help organisations to defeat financial crisis. However, this is when human resource manager is tested. The human resource manager has to state the situation clearly for all the staff. Do not let employees feel panic about what organisations suffering at this moment. And also, speak to talented staff about what strategies would be undertaken by organisations during the economic downturn. This would encourage talented staff work harder than usual and have confidence in organisations. They are confident to survive the financial crisis and work hard together. The talent discussions are focused on career paths, training and the creation of more flexible workplaces. CBA recognised that talented staff are more concerned about being part of the process of driving towards a successful future. These talented staff are more concerned about maintaining a career and having a secure future. Therefore, organisation uses talent discussion to let them know their jobs are secured. As discussed before, organisation tried to satisfy the needs of talented staff to make them feel they are being looked after well and they are important for organisations. CBA found that the financial reward mechanisms is not only way to retain the talented staff. The reward system only delivers short-term outcomes. Therefore, CBA tried to establish a good working environment in which talented staff will select to join the bank and then decide to remain. The CBA also recommend staff that right people in right places. This can easily meet bank’s goals during the downturn. Lambert (2009) states that it is a big challenge for human resource manager to ensure the right people in the right places in organisations. Therefore, it is important to include workforce planning for human resource managers. For workforce plnning, the human resource manager needs to complete a skills audit. In this audit, the skills obtained by every employee will be stated. Also, the working history should be recorded in this profile. It can help HR manager easily to identify which job suits which person in organisations. Labmert (2009) also demonstrated that the benefit of workforce planning, which are cost reduction, make sure that business plans can be delivered and staff retention. Therefore, for the benefit of organisations, right people in right places are significant. 4.8 NAB and KPMG
These two organisations
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