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Developing and Retaining Top Talent
We were joined by international authentic leadership expert, Dõv Baron,
following the publication of his latest book, “Fiercely Loyal: How High Performing Companies Develop and Retain Top Talent.” He was able to give us some insight into what it takes to attain and maintain top performers in today’s business world.
BPM: What is the difference between today’s workers and those of previous generations?
Baron: The difference between today’s workers and those of previous generations is a values one. We tend to look at the reces- sion and world of business and think “that’s all behind us now.” It’s not! When you think about what came out of the global financial issue, among many other things, there was the Occupy Movement. What generation was dominantly involved? The answer is Gen- eration Y ... the millennials. Now, many of the millennial genera- tion have been integrated into the business world, but they remain skeptical of baby boomer and Gen-X leaders.
BPM: What kind of problems does this disparity between generations present?
Baron: Millennials are not driven by the same things as boom- ers and X’ers were. Nonetheless, many boomer and X’er bosses think that throwing the same incentives at them will work and, as a result, they are leaving in droves.
BPM: What is the average cost of replacing top talent? Both financially and culturally?
Baron: You, as a leader, likely know that there is a high cost to replacing top talent. And, it’s more than just fiscal, although that is nothing to be sneezed at. The average cost of training and de-
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