4 Retention Strategies for the New Normal
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Today's Human Resources management leaders must acquire a retention strategy. The Great Resignation and ensuing labor shortage proved employee engagement is vital to the success of an organization. With a possible recession looming, companies are looking to get leaner. Replacing a member of the team can cost thousands. If organizations opt not to replace someone who quits or gets laid off, then it can cost even more in the way of employee morale.
As a result, the post-pandemic era is defined by a quest for better employee engagement as a means of retaining talent. Recently, Edwin Bodensiek, Co-Founder and CEO of Cravety, and Don Stenger, Manager of Strategic Talent Acquisition and Reporting at FedEx Express, talked about how to use mobile phones, deploy gaming, and improve communication to reach employees.
View their online discussion with HR Exchange Network about these approaches to retention and their thoughts based on on how FedEx Express retains job candidates and hourly workers during this time of tremendous change.
Also, here are some other ways to build up retention:
Onboarding
Onboarding sets the tone for a new hire. This is how an organization introduces itself to those who are meant to commit their time and passion to the mission. Yes, there are bureaucratic must dos. In the new world, this is an opportunity to develop that sense of belonging and define the values that unite employer and employee.
READ: 2022: The State of Employee Onboarding in the United States
With more remote and hybrid workers, employers are smart to create online onboarding that can begin informally once an offer is made to a job candidate. Using technology allows employers to continue to communicate with those they want to attract and retain.
Connect with Technology
HR tech does not have to be complicated. Using text messaging and social media, which are readily available to all, can help teams and leaders stay connected. The point is to ensure people know that employers are thinking of them, encouraging them, and supporting them.
READ: 5 Reasons Why Employers Are Opting into AI in Learning
Of course, some HR leaders have bigger budgets and intrepid executives willing to experiment with more sophisticated technology. Artificial intelligence (AI) and machine learning are surfacing in more organizations. Some are even testing learning and development programs with AI.
Personalizing Experiences
Personalization is a popular word in the new normal, and it should be a meaningful one to HR leaders. In the new normal, Human Resources leaders recognize the need to address the individual and his or her unique needs. HR tech allows for this because AI learning, for example, provides content and practice problems in reaction to the person's ability.
In addition, managers are focusing more on the experience of those who report to them. They are asking - and truly wanting to know - about how people who work for them are feeling, what personal and professional problems are keeping them up at night. People are more willing to help each other battle stress and other more pressing mental health challenges. They also want to consider the benefits and schedules that the can help the individual reach his or her full potential.
WATCH: The Quest for Greater Personalization in Digital Learning
Taking Action
Employee surveys and focus groups have always happened. Now, however, HR leaders are more willing to actively listen to workers and take action on their feedback. Small gestures to show appreciation are easy to implement. Some have begun providing thank you notes or offering opportunities for rewards. Bigger gestures might not be as easy to address, but knowing of the need can help make the case for its necessity.
The point is that employee engagement and retention strategies are of the utmost importance. Employers need to take it seriously to remain competitive in the talent wars.
Join HR Exchange Network, Cravety, and FedEx Express to learn more about retention strategies. It's free to register. Those who come to the live event are eligible for SHRM credits.
