Retaining Talent is a subject that has been plaguing the creative fraternity for a long time now. Charles Day, Founder, The Lookinglass, shared in an interactive and engaging session on the first day of Cannes Lions 2014 how the most successful companies don't just attract the top talent, they're also best at unlocking talent, which is the best manner to retain talent today.
Day was joined by Ben Bilboul, Group CEO, Karmarama and R Martini, Founder & CEO, Flag, The Creative Disruption Network, who according to him have built organisations that attract talent gravitationally.
“The way we used to work as a creative industry doesn’t work anymore, the millennial generation is not motivated by making money they need to make a difference,” shared Day.
“Members of the next generation are expected to change their career at least ten times before they are 40, this is a trial and error economy,” he further added.
Ben Bilboul advised the audience to take out the gap between perception and reality. “There should be no difference between what is promised to someone on their appointment and what they are actually given once they join,” he urged.
R. Martini spoke about the company‘s Innovation lab wherein if any employee pitches a good idea, the company gets the necessary infrastructure in place to execute the idea, and the employee becomes 50 per cent partner in the IP of the product and gets a profit share as well . This is a method adopted by the company to encourage the entrepreneurial streak, motivate employees and keep them within the company’s ecosystem.
The session also highlighted the following points:
• The new generation is very open and respects transparency in all dealings which employers need to respect.
• People want to work in companies who help them in their life path and not only career path.
• Employers must be able to have an honest conversation with their staff, the inability on part of the employees to do so is one of the biggest obstacles in retaining talent.
• Employees who want to retain talent need to make “professional life more personal” for employees.