Case Scenario: You are a senior executive in a large vehicle manufacturing company working on development of highly innovative self-driving cars. You have just hired a high-profile expert engineer who is recognized as a 'rising star' in the industry. Your organization has spent a lot of money and time recruiting this person and it hopes that this senior engineer stays with the company for many years. However, as with many senior scientists and experts, the new hire seems to have a little loyalty to or identification with any firm. You know that other competitors are extremely keen to recruit this valuable workforce to boost their competitive edge in the fast-growing industry. You have many concerns, and you should inform the top management about the situation.
Your assignment: As a Senior Manager, draft a report to the board of directors explaining your concerns regarding the situation and suggest your strategies to address it. Please note that this should be in the format of a professional corporate report, not a research draft or an essay. You should explain the possible consequences if the valuable employee (with so much data about a novel technology) leaves the company and highlight the importance. You should then describe in detail (with action plan examples pertaining to this incident) 4 strategies that would increase the senior employee's loyalty to your organization. You should pay attention to issues around employee personality, attitudes, motivation, and perceptions. You are expected to provide a logical reasoning and arguments to the board while keeping your plans practical, realistic, and economically reasonable.