Employees are finding it easier to leave their jobs, in part due to increased mobility and new opportunities being presented by the changing face of work, emerging technology and digital innovation. In organisations, this means that we have less time to build relationships and have to work harder to keep people interested, engaged and committed. Shorter tenure coupled with the steep costs of rehiring and retraining, means that employee turnover is probably the number one issue organisations need to address.
- From Human Resources to Human Relationships
Most HR professionals see the value of investing in talent and spend a considerable amount of time and effort in encouraging managers and people leaders to view each employee as an individual, rather than just a commodity in the business. Smart organisations who truly invest in their people will find that their employees feel a greater sense of value and loyalty and are less likely to move on.
- Managers Work With People, Not Resources
When managers truly invest in building relationships with their teams, they send a strong message about their value. Learning what each employee excels at, prefers, and struggles with is valuable for both parties. Employees want to feel trusted, have their unique abilities recognised, make a difference in the organisation, and have the option to work flexibly in a way that suits their personal and professional needs. Managers in turn can learn valuable insights from employees about what's working, what clients are asking for and how to improve the experience for employees and clients.
- Connecting With Employees
The most powerful way to retain talent is to create meaningful connection with them. This means creating a way to foster meaningful feedback which is regular and useful. Employees want to know what is expected of them, how to improve in their role, and to understand how their contribution adds to the big picture strategy in the organisation. They also want their own feedback heard and acknowledged. This connecting increases loyalty and decreases costly employee turnover.