Time is now for 'career conversations'.

• Author: Heffes, Ellen M.
• Position: PROFESSIONAL DEVELOPMENT

As pressing economic conditions prompt organizational change, it's imperative that business leaders remember that successful transition depends on the buy-in, engagement and confidence of managers and employees, say experts.

Don't wait, advises Tom Karl, vice president of career-development firm MasterWorks. "Leaders need to make the investment now or accept the potential consequences of decreased productivity, employee engagement and loyalty and increased risk of losing their most valuable people."

With layoffs and cutbacks, a recent survey by AchieveGlobal found that nearly one-quarter of United States workers said they expect to leave their existing positions on their own terms. Retaining key talent in difficult times is a sign of a strong organization," says Karl, and offers five career-development tips:

* Ready leaders and managers. Increase the skill and confidence of managers to have effective and meaningful career conversations with all their employees throughout the change process.

* Keep your best. High performers with specialized skills, customer loyalty and long-term potential are typically the most employable and first to leave given...