One of my senior colleagues has said that we don't have to worry about people issues right now, because during the recession no one will want to leave the business. But I am not so sure. What should we be doing to make sure we don't lose the talent we need to keep the business moving forward?

In one sense, your colleague is right. Many people will certainly not be in a hurry to change jobs in the present economic climate. Employees will value the security of their role and that they do at least have a job.

Yet at times like this talented people are very watchful about how senior leaders within their organisation are reacting to the economic climate. The talent you want to retain will also have eyes wide open to spot any of your competitors handling things more positively and giving out signals of greater long-term confidence. This talent is subconsciously seeking reassurance that they are still working in the best company, so if they sense panic or a struggle for survival, they will be on the lookout for alternative employers.

Talented employees also need continuous recognition and approval. They want to feel even more valued for their personal contribution when times are tough. To deliver on these expectations, you need to keep talking to your key people and keep them engaged with the organisation.

They also need to feel personally connected to your company and its core sense of purpose. Our research has shown how a majority of senior leaders use the power of what we call “organisational identity” — basically, your key point of difference as a company — as an island of stability in a turbulent sea. They use it as an anchor in their strategic thinking, as a consistent theme in every communication and as a mark of confidence that their organisation does, indeed, have a positive future.

It is critical to keep looking ahead, because the day will come when the economic climate does pick up again. At this point your talent will make the decision to stay or move out quickly and the actions you take now to build loyalty and commitment will determine their course of action.

If you want to keep your best people, you need to keep them close and give them a real personal stake in the future of the business.

Your first point of call, however, must be your senior colleagues. Encourage them to recognise that engaging people and building their commitment is a top priority that should not be hampered by the present economy if they want the company to emerge stronger and fitter.

— Virginia Merritt is managing partner at Stanton Marris, the organisation consultants.
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