Retention during the change management
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What is your experience and suggestions in retaining talents during the change management? I understand that to address anxieties, it is crucial that one needs to be provided with expectations as well as specific roles in the process, but there is a limit as to what the PMI team can take care of, within the limited knowledge of the personnel of the target from due diligence stage. Curious to know your experiences and suggestions.
Hi Tack
I would initially focus on two main aspects to retain talent during change management.
First (as you also said) given the limited knowledge of the target company’s personnel from the due diligence stage, it’s crucial to prioritize Key Roles, by identifying positions that are essential for the success of the integration and quickly building relationships with key personnel to understand their concerns and motivations. This can help tailor retention strategies effectively.
Second, retention incentives, which means on one side financial incentives such as retention bonuses to key employees to encourage them to stay through the transition period and on the other side clear career development opportunities within the new organization. Highlight potential for growth and advancement.
Very practical approach, but in my experience useful for avoiding unwanted exits.
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