Halt the exodus of key talent
The economic downturn had left this major player weakened and struggling to regain its competitive position. Bad loans and outdated practices had to be replaced with new credit and risk processes, and entrepreneurial ideas needed to be executed with extra rigor and discipline. During the fallout, many top talent employees had migrated to competitors or other industries. Now, restructured and profitable once more, this client needed to both retain its top talent and maximize their contributions to the company.
Giving talent a reason to stay
The head of HR called on LH&P to quickly reach out to top talent individuals on behalf of the company. While the head of HR identified high-performing people in critical roles or who represented key-person dependencies, LH&P created communications and designed a process to create engaging development plans for each person. Incorporating the perspectives of performance managers and HRBPs, LH&P worked with top talent individuals to craft development plans to capitalize on short-term and next-move development opportunities. Once finalized, development plans were aggregated to provide a view of readiness at different levels in the organization as well as to identify common development areas that warranted programmatic support. LH&P was then asked to repeat the process for a second wave of top talent.
Key talent energized
Prompting from LH&P surfaced previously unrecognized opportunities for talented individuals that energized them about their careers at the company. Performance managers welcomed the process and recognized immediate opportunities for key members of their team to increase visibility or to expand their networks within the company. Most importantly, talented individuals who assumed they needed to leave the company found viable ways to advance their careers by staying.