Here’s a good read from BusinessWeek.com titled Engaging Employees. Retaining top employees has always been a business priority, but the Millenials/Gen Y will take this management skill to a new level. That generation is looking for a strong bond with their manager and will gravitate towards managers who possess this ability. And here is a clear description of why attracting and retaining top talent is mission critical:
Today’s business world is characterized by globalization, increasing competition, an ever-accelerating pace of change, an overabundance of information, a never-ending technology revolution, a growing number of mergers and acquisitions, layoffs, and a declining talent pool. In this chaotic world, a business can only survive if it can attract the best and the brightest to its workforce. It can only thrive if it continues to grow and develop, while retaining, the talents of its workforce.
Later the author expands on how managers can accomplish this goal:
The manager must use a variety of familiar management skills and apply them to the career context. Frequent discussions with staff members about what they do best and what they want to do should be routine. This type of ongoing dialogue enhances productivity and results in a partnership that aids the employee match positions or projects that maximize their talents.