【正文】 it。 or the key financial accountant responsible for consolidating the acquired pany39。D function who is nearing retirement age and no longer on the pany39。t address. Moreover, by focusing exclusively on high fliers, panies often overlook those normal performers who are noheless critical for the success of any change effort. Our work with panies in many sectors (among them, energy, financial services, health care, pharmaceuticals, and retailing) suggests there is a better and less costly approach to employee retention — and one that will serve panies well as they merge, restructure, and reorganize to seize strategic opportunities as the economy picks up. It starts with identifying all key players, but targeting only those who are most critical and most at risk of leaving. These people are then offered a mix of financial and nonfinancial incentives tailored to their aspirations and concerns. A European industrial pany applied this approach during a recent reorganization and found that it required only 25 percent of the budget that had previously been spent on a broad, cashbased scheme. What follows are three suggestions for panies with similar hopes of keeping their top talent without breaking the bank. 1. Find the hidden gems HR and line managers need to work together during times of major organizational change to identify people whose retention is critical. Yet too often panies simply round up the usual suspects — highpotential employees and senior executives in roles that are critical for business success. Few look in less obvious places for more average performers whose skills or social works may be critical — both in keeping the lights o n during the change effort itself as well as in delivering against its longerterm business objectives. These hidden gems might be found anywhere in the pany: for example, the productdevelopment manager in an acquired pany39。s manager, attention from leaders, frequent promotions, opportunities to lead projects, and chances to join fasttrack management programs are often more effective than cash Leadership opportunities are a powerful incentive in any sector. Section: Applied Insight .Tools, techniques, and frameworks for managers Many panies throw financial incentives at senior executives and star performers during times of change. There is a better and less costly solution Too many panies approach the retention of key employees during disruptive periods of organizational change by throwing financial incentives at senior executives, star performers, or other rainmakers. The money is rarely well spent. In our experience, many of the recipients would have stayed put anyway。 teaching The article discusses the retention of key employees in times of organizational change. The focus of the discussion is on identifying the most critical employees and offering them a mix of financial and nonfinancial incentives that a specific to their personal and career goals. The idea that panies often overlook highpotential employees who are not top executives is noted. Incentive packages can include wages, language training, and alternative work arrangements to avoid relocation. Nonfinancial incentives such as praise from a superior and leadership training are noted. financial incentives play an important role in retention — but money alone won39。 Lawson, Emily Contents 1. Find the hidden gems 2. Mindsets matter 3. Retention is about more t