Engagement and Retention: Essentials of Retention Tools

Abstract

As competition and skill shortages increase, companies are continuing their efforts to find and keep the best people. CEOs and managers are drawing upon a range of existing human resource practices and tools that have either a direct or indirect impact on decreasing turnover and encouraging greater retention within organizations. Practices such as employee satisfaction surveys, flexible work practices, team-building activities, and employer branding can all influence employee retention and are briefly introduced in this chapter. So too are other, more people-based factors which influence employees such as management style, type of work, organizational image, team atmosphere, and company culture. Particular emphasis is placed on the role of employer branding in this context and the need for employers to differentiate themselves as an attractive place to work.

The alignment of the values of an organization with the desired brand image and human resource practices is critical for ensuring the delivery of its brand promise to employees. It is recommended that managers take a holistic approach to managing their human resources and to the development of retention strategies for their organization. Key steps in this approach include: (1) finding out the views of employees (via satisfaction surveys and other tools), (2) designing employee benefits and human resource programs in such a way that they can be tailored to suit the needs of the workforce and the individuals within it, (3) engaging employees from all levels in the development and implementation of specific human resource initiatives and activities, and (4) strongly linking human resource activities to company marketing and branding. Potential benefits include greater employee motivation and engagement, higher productivity, increased innovation, improved customer satisfaction, stronger branding, and lower employee turnover rates in the long term.