The 21st Century and Employee Retention
The 21st Century and Employee Retention
Suaradaily.com - It is essential to take a step back and reevaluate our corporate practices in light of emerging markets and new ways of doing business that even our employees engage in, as the business paradigm in almost every modern company department has been steadily shifting over the past decade. This is just as accurate in our marketing department as it is in our HR department.
Given the shifts in the supply of educated workers "out there" to meet our staffing demands, we need to rethink our recruitment strategies and the way we see employee retention, or risk seeing a significant dent in our company's bottom line.
My personnel needs can be met by tapping into an endless pool of enthusiastic individuals.
Because it reduces benefit expenditures, cycling employees in and out of the organization is a smart strategy.
that imposing your vision for the execution of work through a "my way or the highway" style on management is the correct course of action.
Workers are just commodities. No matter where someone comes from, there are always more.
Workers ought to feel thankful simply for receiving a salary.
Keeping younger people on staff and letting older ones go is preferable.
These assumptions are becoming more and more risky as the labor pool changes in response to changes in the country's demographics. We can no longer rely on them to retain a team that can effectively support our business objectives. We need to revise our expectations for recruitment and employee retention as the "baby boom" generation exits the workforce and is replaced by a younger, less experienced generation.
We need to start seeing our people as valuable assets and focus heavily on retention, not only once a year at performance reviews but every day and every week. This is probably the most major change we need to adapt to. The old school of people management believed that workers would do anything for money and that we had the upper hand in management negotiations since there was a large pool of potential workers to replace dissatisfied workers.
The truth is that a frightening number of skilled workers are avoiding the workforce. An investment is worthwhile if it yields a competent workforce that you have trained and educated. Not only are highly educated and skilled workers in limited supply, but they also know they are in demand and can easily switch jobs if they are unhappy with their current one.
A company-wide review of retention policies and initiatives is warranted due to these shifts in the emplacement paradigm. Rather than taking a "us against them" stance, the company's HR department should spearhead a shift toward employee agency and collaboration.
Managers that are great at keeping talented workers around are those who view the employment contract as a two-way street, where both parties have obligations to each other: the employee must do his share to help the company succeed, and management must do its share to help the employee grow and succeed. Improving the company's retention profile is just one of many ways in which a partnership approach to management can help the firm succeed.
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