Key to business success ‘retention of talent’

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Retaining and developing the skills of talented individuals is the key to long-term business success, one sector commentator has asserted.

Ruth Spellman, chief executive of the Chartered Management Institute (CMI), said the recent recession has put pressure on managers, leading them to become tougher with their staff, but that this was “no excuse” for harassment or bullying in the workplace.

She added the CMI believed it was wrong for any breakdown in relations between staff and management on the effects of the recession.

“Retaining and developing talented individuals is key to business success, so managers need to focus on creating a talent culture to ensure that employees are nurtured and developed to the advantage of the business,” Ms Spellman recommended.

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She noted effective talent management practices are “essential”.

Her comments come after research by law firm Speechly Bircham and King’s College revealed nearly four in ten (39 per cent) HR professionals noted the downfall in relationships between managers and workers as the main reason grievances were lodged last year.

This was in comparison to the one per cent recorded in 2008.

Furthermore, those who reported bullying and harassment as the main cause of grievance more than doubled during the recession.



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