Talent Retention in 2022
The post-pandemic landscape of work is wildly different from what we are used to. Employees and candidates have shifted their priorities and are seeking holistic work environments which not only provide them with a paycheck but value them as members of the organization and enable them to grow. Contrary to the previous trend, the ball is now in the employee’s court, and they have become more discerning about how and where they spend their time and energy. CNBC has reported that as of August 2021, 4.3 million workers quit or changed their jobs, in what has been called “The Great Resignation.” So, the question begs, how can companies retain talent and prevent turnover?
Flexibility is Mandatory
Firstly, focus on flexibility. In a post-pandemic world, people have become accustomed to a work-from-home lifestyle. Although it may seem odd, this has proven to increase productivity and performance! So now, as restrictions loosen, the way forward is to provide a hybrid working environment that lets employees choose when to come into the office and when they can stay home. Going fully remote would negatively impact engagement and innovation but forcing everyone to come into the office every day robs them of the opportunity to choose what work environment works the best for them.
Culture is King
This brings us to the next point: cultivate a supportive and warm company culture. At the end of the day, the company is run by its people. An environment that encourages collaboration, personal development, learning, and creativity is vital to keep employees happy and help them form an attachment to their place of work. This not only encourages them to take pride in their work and put their best foot forward, but also, encourages a sense of belonging, which is a salient feature in talent retention. Making sure your employees feel valued and recognized for their work, taking their health and wellbeing seriously, and making sure that they have the option to move up the ladder will all aid in this endeavour.
Welcoming Workplace Design
A warm and inviting office encourages workers to come into work and optimizes psycho-somatic effects in favour of productivity and innovation. A workplace design that has lots of natural light, open, fluid layouts balanced out with private areas for focusing are extremely attractive to potential candidates as well as current employees. Since people spend around 40+ hours at work in a week, they tend to be picky about where they work.
All in all, creating a people-centric, equitable, and flexible atmosphere for employees to participate in will go a long way in helping talent retention and attraction. People tend to form attachments to places where they feel comfortable and valued, and this mitigates flight risks significantly. With the competition for talent increasing immensely in the past two years, salary is not the only thing that is taken into account, and businesses must adapt their strategy and workplace design to the new order of the job market if they want to reduce turnover.