We’ve all had it happen, a top performer leaves for a new opportunity, assuring us that the new role fell into their lap and that they weren’t really looking to jump ship.
On the other hand, maybe there was something we could have done to ensure they didn’t go elsewhere. If this story sounds familiar, it may be time for a retention strategy. Here are three ways you can invest in your top finance talent.
Identify Them and Offer Leadership Training
So who are your top performers? They’re the ones building business partnerships, mastering new skills quickly and delivering on expectations under tight timelines. Ideally, they have the respect of their peers and when a new project is mentioned, their name naturally comes up. With all of these positives, chances are they have leadership potential. Investing in your top performers by offering them leadership training is a win-win for any company. You retain your top performer because they feel that you are investing in them and you gain a future leader in the process.
Give your top performers opportunities to explore different parts of the company. Your top finance talent will gain an understanding of the business as a whole, enabling them to drive even greater value for the organization. This also makes your top performer feel that they are growing their professional toolbox, being challenged and developing as an employee.
Top talent flourishes in a structured mentorship program. It gives them an opportunity to connect with someone they respect and discuss areas of concern before they become reasons for leaving. A mentor can help align a high performer’s career goals with the company’s overarching vision. Whether they are junior level staff or management, your top performers need to be in a mentorship program.
Invest in your top finance talent. Give them opportunities for cross-functional growth. Offer them leadership training and understand that they flourish when paired with a mentor they respect. With top talent driving a disproportionate amount of your bottom line, investing in them makes smart business sense.