Any organization committed to its mission and vision captures the heart and soul of its workforce. Organizations that are capable of retaining talented people believe that the key to attract and retain the employees lies in some non-monetary factors. Star performers stress more on the fundamental human needs, which the organizations should oblige.

The most challenging job for the present day manager in a highly competitive business environment is to identify, recruit and retain high quality employees for the business enterprise. In many large organizations, HR recruitment and retention strategy revolves around creating a competitive compensation and benefits package, or instituting an employee appreciation and recognition program. On the other hand, the smaller companies think that attracting the best talent is a lost cause for them because they cannot offer the competitive compensation packages that their big brothers offer. While compensation package is an important factor to attract good talent, from the employee's point of view, it is not the sole factor influencing the decision to join a company. Some companies have an extraordinary flair to recruit and retain highly capable employees. These companies are described as "Talent Magnets"the employers of choice for highly talented people. Such companies realize that the key to attracting and retaining quality employees is not merely compensation and benefits packages but other non-pecuniary factors. They attract and retain competent employees by satisfying the key human needs that influence performance and loyalty. They satisfy these needs by leading and managing these skilled employees appropriately.

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