With the economy improving, risk of attrition is increasing for your top talent. Considering that career development leads the top 5 employment considerations, a multifaceted retention strategy combines performance and goals, fair compensation, development, and diversity.

As Raises Creep Back Onto Salary Scene, some companies are loosening the purse strings to achieve retention of key people. Organizations are aligning compensation with a retention strategy to boost engagement and minimize attrition risks.

As part of any talent management strategy, look to diversity to power business success. In the Chartered Institute of Personnel and Development (CIPD) research report, Opening Up Talent for Business Success: Integrating Talent Management and Diversity, the major finding was business improvement when sourcing and developing talent from a wide pool. In fact, focus on global talent pools is increasing:

At a DiversityInc learning event in Washington, D.C., AT&T’s Senior Vice President and Chief Diversity Officer Cindy Brinkley summed up diversity, retention, and development in this statement:

“It comes down to the people. The people are the ones who develop strategies. They are the ones who make it happen, so retaining and developing the talent is very key. It’s job No. 1.”