Employee Retention: How to Keep the Best People
Employee retention is a perennial and often critical issue for HR departments. The challenges of keeping top talent seem to be more complex than ever before. Retaining skilled employees is still not just about offering attractive salaries. That, of course, has always only been part of the mix! It requires a holistic approach that addresses evolving aspects of the employee experience. This mix is also getting more complex, with different age groups and professions all needing differing considerations.
In the CIPD’s Summer Labour Market Outlook, they point out that more than half of employers in the UK are putting more emphasis on keeping their current personnel rather than trying to hire more people. Currently, maintaining employee engagement, motivation, and commitment to personal development and upskilling is of utmost importance. Without proactive efforts, companies run the risk of disengaging excellent people or simply losing them altogether.
Firstly, we all agree that employees who feel valued, challenged, and recognised are more likely to stay. HR departments are always under pressure to strive for clear pathways for career progression and opportunities for professional development. This can include gathering regular feedback on needs and wants in this field, as well as offering mentorship programs and providing access to training that works for both the staff and the organisation.
Work-life balance is another hugely important subject, which comes up time and time again in our employee feedback work. With the distinction between work and home life becoming increasingly blurred, people are looking for employment that provides flexibility and takes into account their personal and familial well-being. HR practitioners must consider how business policies and culture influence employee happiness and, therefore, retention. Even in non-hybrid settings, a persistent anti-social shift pattern that strains a family’s wellbeing will soon take its toll on any employee.
A healthy, inclusive workplace culture in which workers feel connected to one another, appreciated, listened to, and respected can significantly minimise attrition. Younger employees are especially interested in this kind of synergy. It requires ongoing effort to cultivate an environment and culture that align with the values and expectations of the workforce. Knowing about those expectations allows HR efforts to be tuned into and focused on those things that can have the greatest effect.
Ultimately, addressing employee retention challenges requires HR departments to take a proactive approach, continuously evaluating and adapting strategies to meet the evolving needs of their employees and the business. A continuous listening strategy that is properly focused on the things that matter most should therefore be considered a necessary and very valuable precursor to all the above.
How often and how well do you gather feedback from the people who power your business? And, crucially, how do you make the best use of it in practice, day after day, to retain your talented people?
Get in touch if you would like to chat about this in more detail or find out how we can help you.
