Retaining your employees is a complex mix of their strong engagement with the business, and their confidence and ability to plan and implement a career with you.
You may have in place succession plans, but career planning is your people’s opportunity to map out their own growth in the business. If they feel valued and understand the role they play, you are likely to retain them. But sometimes we misunderstand and, rather than investing in this, we merely increase the remuneration package hoping to win people’s engagement and adding to payroll costs.
By looking at how you can engage with employees and offer them a reason for staying in terms of a career plan, you can reduce attrition without adding to the payroll.
You’ll want to support career planning through an always-available tool for your people. It would map out career paths, model routes and offer role profiles so that people can project themselves forward.
You no doubt look at the results of, and take action from, an employee engagement survey – not just looking at single overall score but cutting the data however you want and looking at engagement trouble hot spots across the business.
You may want to look at your performance management process and encourage better performance conversations so people understand the role they play, their contribution to the business and receive openly feedback that they receive, seeing it as a way to develop.
Reduce employee turnover without increasing pay
We can be with you every step of the way as you develop your talent management activities.
We know the importance of getting it right when you introduce new software and processes, so we are here to help.
If you’re ready to look at how you can reduce attrition but not increase pay, please get in touch.
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