Is there a way to retain Top Talent

17 Nov,2014

 

In less than a month, we’ve had two top execs quiting to do their own. We asked top headhunter Abha Kapoor for solutions. Although this article talks about creative talent, the suggestions are applicable across the Media & Entertainment sector spectrum

 

By Abha Kapoor

 

Without the right talent there is no value proposition for a media organisation and without cutting edge top creative talent there is no differentiator.

 

1. Respect creativity & build a creative culture across the organization:

Creative professionals want to work where their talent is recognized, respected and appreciated. Give them the kudos they deserve. Create a workplace that fosters creativity, free of restrictive policies & procedures that limit productivity. Give creative professionals freedom, time, flexibility and an environment that allows their creative juices to flow.

 

2. Empowerment & Independence:

Allow them to set the creative agenda. Do not get in their way. Often business considerations tend to stifle creativity. Pointless interference by leadership will make the best creative professionals jump ship.

 

3. Diversity of experiences & opportunities:

International exposure through assignments and secondments will keep creative minds engaged and alive. Coaching and mentoring by global hurus will also expand their horizons and capabilities.

 

4. Allow them to follow their Joy:

Creative people are passionate and tend to have diverse interests. Their interest in their alternate passions drives their ability to experiment, innovate and come up with stunning breakthroughs. A book, a script, a film, a painting, a piece of music is pure creative expression & therefore immensely fulfilling. Allow and encourage their creative passions.

 

5. Provide Inspired Leadership; Groom Creative Entrepreneurs & then Incubate them:

Create an environment that urges creative professionals to think business and be open to investing in an interesting creative business idea. Start an incubator with a seed capital fund.  Google does this effectively – Orkut started as an internal project by a Google employee! The desire to own and build something and leave a legacy is a desire that most creative folks have. Encourage and monetise these opportunities.

 

6. Reward Creativity in Different & Innovative Ways:

There is no ‘one size fits all’ for developing a standardised compensation package for creative professionals. Be flexible & creative in tailoring an interesting rewards program. Offer stock options – these encourage the feeling of ownership, enhance productivity and retention. Also, offer an interesting career trajectory and a big dream to deserving candidates which will help keep them around longer.

 

Abha Kapoor is Director, K&J Search Consultants. This article appeared first in ‘dna of brands’ on November 10, 2014

 

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