Employees retention in PMI
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What strategies can be employed during post-merger integration to retain key talent and prevent a loss of critical employees?
One idea for key employees is to work with them on a career development plan and identify resources needed to meet their goals, and help create a clear path to tackling some initiatives to help with development. This demonstrates the business is willing to invest in the employees and creates an affective commitment from the employee to want to stay with the company.
Great question Hana.
I think there is no one particular implementable step to solve this potentially dangerous issue. I believe three most important steps are:
• Identify mission-critical staff pre-close or immediately post-close,
• Offer Retention Bonuses and Incentives
• Define Clear Roles & Career Paths
These steps help reduce confusion and shows employees there’s a future for them in the new organization and increase the level of interest and long-term commitment to the organization.
Edward.Money! retention bonuses for your highpo’s with career development plans built in.
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