The Race for Talent: Retaining and Engaging Workers in the 21st Century Fredric D. Frank, Richard P. Finnegan, Craig R. Taylor, TalentKeepers

s the 21st Century unfolds, major changes are beginning to occur in today's workplace. A growing awareness of unavoidable demographics is creating a greater urgency for HR professionals everywhere to focus more attention and energy on retaining talented employees and keeping them actively engaged in their work. New strategies are emerging that go well beyond traditional solutions, holding much promise in the effort to keep and engage well-performing employees.

A

12

HUMAN RESOURCE PLANNING

has serious consequences for the economy. For Employee retention is king. And employee example, in the United Kingdom, the cost of engagement is not far behind. CEOs ot the disengagement is calculated to be in the billions nation's fastest growing companies ovcrwhehiiof pounds. The U.S. economy is estimated to run ingly cite retention of key workers as the most at only ab(HU 30 percent efficiency because of a critical factor to plan for in the next year ahead lack of engagement (Bates, 2004). (PricewaterhouseCoopers. 20