How to Retain Top Talent When the Market is Poaching Your Best People

Retention strategies for leaders, HR managers, and business owners in Ireland and the UK

This blog is a quick round up of some of the top questions I’ve been asked recently. I thought if one person has a question, others might be thinking the same.

Q: Why is retaining top talent critical for business success?

Retaining top talent protects profitability, performance, and culture. In Ireland and the UK, replacing a skilled employee can cost 50%–200% of their annual salary . This is before you account for:

·     Lost productivity and project delays

·     Recruitment and onboarding costs

·     Cultural disruption and knowledge loss

·     Morale damage when respected colleagues leave

 Q: What’s changed in the “war for talent”?

The rules of attraction and retention are different from five years ago. Leaders across Ireland and the UK are reporting:

·     Employees expect more than pay: Purpose, professional growth, and recognition matter as much as salary.

·     Flexibility is a baseline: Hybrid and remote options are now expected, not exceptional.

·     Culture is decisive: If values don’t align, top performers will leave.

This is why employee retention strategies now need to address reward, leadership, and culture together, not in isolation.

Q: What are the three main drivers of employee retention?

I call them the Retention Trifecta:

1.   Systems: Fair HR and companywide systems, when applied consistently, are key to retaining good talent.

2.   Leadership: Great managers retain talent; poor managers drive it away. Leadership training and coaching are critical.

3.   Culture: A workplace where people feel valued, included, and connected to the organisation’s purpose.

Q: How can leaders improve retention in the next 90 days?

Here are three practical retention strategies you can act on this quarter:

1.   Audit retention risks: Review turnover data, exit interview patterns, and engagement surveys to find hotspots.

2.   Equip leaders to lead: Train managers in communication, feedback, and conflict resolution.

3.   Match reward to values: Align recognition and benefits with what employees actually care about, from flexibility to career progression.

Q: How do small and medium-sized businesses (SMEs) retain top talent?

Even without a large HR department, SMEs can achieve high retention by:

·     Running quick pulse surveys to detect disengagement early

·     Offering development via mentoring, cross-training, and stretch assignments

·     Creating a culture of open, two-way communication

Q: Why is it risky to delay retention efforts?

Every month you delay tackling retention, the cost of turnover rises. Competitors are actively targeting your best people. Companies that prioritise retention now will:

·     Reduce recruitment spend

·     Protect productivity

·     Strengthen company culture

·     Keep their competitive edge in the market

I work with HR leaders, executives, and business owners across Ireland and the UK to solve complex retention challenges, from culture audits to leadership coaching, and even handling complex conversations with employees as well as sensitive exits with empathy and professionalism. If you want to protect your best people, start the conversation today.