A recent study by global consultants McKinsey & Co. found that organizations are no better at finding, motivating, and retaining good employees as they were 10 years ago (Entrepreneur magazine, July 2008).  While senior managers said they made talent management their top one or two priority, 60% admitted they do not spend nearly enough time developing employees.

Exacerbating the problem is the demographic upheavels most companies are experiencing with the retirement of baby Boomers, the differing expectations of Gen Yers, and the cultural gaps resulting from a global workforce.  Add to that the fact that most work is more knowledge-based than ever, and it becomes more important to cultivate and retain employees capable of adding to an organization's success.

The McKinsey study suggested managers redefine the employee value proposition--those reasons why smart, motivated and talented individuals would want to work for you and contribute over the long term.  A Metlife study shows that benefits have increased in their importance for retaining talent (up from 35% in 2004 to 45% in 2007), becoming as important to mentoring and training.

Review your own efforts at mentoring and training your top talent.  Besides weekly one-on-ones, does it include challenging people with unique assignments that can grow their skills?  Does it force them to move outside of their comfort zone to achieve success?  Are failures anticipated and seen as part of the learning process?

For additional strategies, check out our first book, Positioning Success, and the section on Recognizing People as Assets.  You can order it and other books in our Success Series from our Home Page.