One of the most perplexing questions our corporate clients ask is, “will our talent actually stay?” The concern is that talented people are leaving their positions for more desirable jobs. Some people refer to this as The Great Resignation.
For instance, a client of mine, with 20 years of experience in helping tech companies scale from 50 to 2000 employees, explained, “there is no great resignation, there is talent everywhere, but they get to decide where they are going. That’s the difference.”
What a thought! Talents in most corporate spaces are now in control! The business world is a buyer’s market, and the talent gets to buy. So, what are companies doing to keep talent? Monetary incentives, kudos, flexible work schedules, and work-life balance only go so far as to keep people within the fold.
Smart companies are investing in Power Skills. The New York Institute of Finance explains that power skills include adaptability, creativity, decision-making, time management, and communication. Suffice to say that all these inform the last descriptor. More simply, communication is The Power Skill.
An employee who can communicate can succeed in any environment. Companies who want employees to stay are incentivizing them to do so through communication coaching and training.
If you want your people to stay, investing only in job-specific skills is not enough. You should probably do a little more – invest IN THEM. Invest in their growth and in giving them the power skill of communication. It is the wisest investment to make. The ROI is to the person and the company.