Moving away from traditional retention schemes, employers are exploring new alternatives to check exodus of talent from their organisations, said ManpowerGroup Solutions.
The existing retention strategies are based on one-size-fits-all approach, which does not effectively meet employee needs, the workforce solutions provider said in a report.
As per the research report, organisations should analyse their existing retention models using a ‘user needs’ survey that evaluates the company's value proposition and its employees -- where to find them, what drives them and what they want in their careers.
"Companies need to increase their talent attraction and retention efforts in the face of a fiercely competitive market and in an environment where access to talent is now the key competitive differentiator," ManpowerGroup India Group Managing Director A G Rao said.
Moreover, companies should ask employees if the systems in place work for them and create engagement to understand 'when, where, why and how' retention is breaking down.
"Retention is about strategic growth and finding right-fit employees that contribute to the long-term survival and success of the organisation," ManpowerGroup Solutions, Consulting & Solutions vice president Steve Lopez said.
As per the report, companies should focus on how people experience the organisation from the standpoint of web/social media, office and workspace, and external marketing.
The image is used for representational purpose only. Photograph: Reuters
