In one of the boards I’m part of as a Family Business Advisor, we were working with the new generation of owners on a topic that worries almost all companies: the turnover of key people.
One of them commented that, compared to their competitors, they considered themselves fortunate: their turnover rate was clearly below market levels despite being in such a volatile sector as technology.
According to him, the key had been a decision made two years earlier: bringing onto the Board a professional specialized in talent management (who, in this case, was me). But what matters is not the person — it’s the role.
Why?
𝗕𝗲𝗰𝗮𝘂𝘀𝗲 𝘁𝗵𝗲𝘆 𝗱𝗲𝗰𝗶𝗱𝗲𝗱 𝘁𝗼 𝗯𝗲𝘁 𝗼𝗻 𝗮 “𝗹𝗼𝘆𝗮𝗹𝘁𝘆 𝗽𝗹𝗮𝗻” 𝗶𝗻𝘀𝘁𝗲𝗮𝗱 𝗼𝗳 𝗮 “𝗿𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗽𝗹𝗮𝗻”.
And the difference is huge:
Retention places all the responsibility on the company. Loyalty is a two-way bond: company ↔ person.
On this board, we defined loyalty as the professional commitment of a company’s members, expressed through pride of belonging, generosity in their contribution, and a preference for staying in the project even when better economic alternatives exist.
Loyalty is trust, emotional connection, and coherence with shared values.
How do you build this kind of loyalty? We launched a plan with five pillars:
Improve the value received for the effort made.
An internal mentoring plan that goes beyond technical knowledge — guidance toward success.
Real participation in decisions that affect each person.
Strategic visibility — feeling like a core part of a collective whole.
Transparent communication about the company’s evolution.
The results have been clear, and the conclusion is crystal-clear:
When Corporate Governance dedicates time to people and gives them the same priority as results (one is impossible without the other), what is a threat for some becomes an opportunity for others.
A reflection: companies that do not reserve space in their Boards to talk about what truly sustains any project — its talent — risk losing it.
Those that do move forward with greater stability, stronger commitment, and a better future.
Juanjo Planes
President of Konsac
