Retaining key talent
• Can you identify your key talent today?
• Are you prepared to put a retention payment system in place to ensure that key talent does not leave your organisation?
• What will be the effect of such a programme on employees who are not covered by it? Are you ready to manage the consequences?
• Is this the time to review remuneration structures and to consider increasing the variable and/or deferred element?
• Have salary sacrifice cost reduction opportunities been fully explored?
• Can you use this opportunity to maximise the financial efficiency of current and future incentive arrangements?
• Should you review flexible working policies to drive down cost and extend the concept for specific areas of the business?
• Would it be appropriate to open up part-time working opportunities to employees who might not qualify under the existing policy arrangements?
• Is this the time to introduce policies for unpaid leave, career breaks and sabbaticals?
• Do you need to review effectiveness of your HR function, its restructuring capabilities and future role?
• Do your HR business partners have a clear understanding of the commercial realities facing your business?
You may also want to read:
– 10 guiding questions to help restructuring initiatives
– Restructuring checklist #1
– Restructuring checklist #2