Reviving An Old Retention Strategy

Many companies have forgotten about this lost strategy when it comes to developing talent for their organizations. You may consider the idea of Internship Program. Many advantages, just to name a few:

1. Build a strong University relationship, one of you major suppliers of future talents.
2. Maintain a relationship with the good performing interns even after they’ve left thru’ e.g. an Alumni Club. Maintain that relationship even if they don’t come to work with you right after graduation. It’s alright if they go to someone else, because that’s good training. One day you offer them a good career and reward package that they can’t resist.
3. The Alumni Club idea can be extended to exit employees. Don’t cut off your relationship with employees just because they are leaving you. Consider that as an opportunity to let them have other exposure. When the time is right and your offer is attractive enough, get them back. The money you spend in maintaing the relationship and attracting him back is money well spent. This is a better investment than spending on expensive development programs, or effort in retaining them. Let go if their hearts and souls are no longer with you. Salvaging is not your best option - business wise. New blood brings in new ideas.

New talents perform best in their first 5 years of employment in new environment because they feel it’s stimulating and challenging.

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