If you’re losing your most valuable players, talent hoarding could be why. According to a recent Gallup article, when good employees believe that the only way up is out, they’ll look for and probably find new jobs.
Managers who are behind this dilemma, are only doing what comes naturally to them. They’re likely experiencing one of two things.
- Loss aversion bias – fear of losing what they already have, rather than focusing on new opportunities.
- Or status quo bias – a tendency to defend things as they are instead of imagining alternatives.
Gallup says that eliminating talent hoarding requires two major shifts. Moving managers from a team mindset to an organization mindset. Releasing talented people so they can find new internal jobs is the right thing for the organization. Managers also need to develop a coaching mindset – which may require training and organizational support to achieve this shift.