1. Retain or Release
9 Box, A Matrix Tool
High Performer High Potential
Low Performer High Potential
Moderate Performer High Potential
High Performer Moderate Potential
Low Performer Moderate Potential
Moderate Performer Moderate Potential
High Performer Low Potential
Low Performer Low Potential
Moderate Performer Low Potential
Performance
The following are practical ideas for actions you can take to improve your chances of retaining talent. Begin by creating an assessment process that identifies the individuals at your organization who meet your definition of “high performers” or “high potential employees.” 9 Box, a matrix tool that allows organizations to evaluate their talent pool on performance and potential factors, is one quick assessment tool that you can use. Using this system, start by defining key competencies or key performance indicators that frame what it takes to be regarded as a high performer in your organization and use that as the “scorecard” to evaluate your employees. Once you have the assessment criteria, apply it to your organization and the result will be (ideally) 3 lists of employees:
List 1 = high performers/ high potentials/ people you wish to retain. For these individuals you will want to create tactics to retain them, such as:
Individual Development Plans . This is a detailed plan that identifies learning goals and specific actions that will ensure they achieve the learning goal.
Feedback processes. Feedback is most effective when it is delivered more frequently, is very direct, and is very specific. We recommend monthly feedback, at a minimum, through one-on-one sessions and formal written feedback quarterly or semi-annually. Banish the old way of thinking where feedback is only done annually at formal performance evaluations. This has been proven to be the least effective method for feedback. In fact, annual performance evaluations can do more damage than good when it comes to improving performance and retaining employees.
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