In the current business climate, employee retention techniques are incredibly necessary in all areas of business. From 2008 to 2011, there was a general consensus among employees that they should remain in their current jobs due to the state of the economy and the lack of other options. Although the market is slowly improving, employees are now moving to other companies, which may also include competitors. To counteract this shift for high-value employees, companies are looking for innovative HR ideas to help them retain their jobs.
How can a company keep an employee who wants to leave their current situation? There is a saying that “the grass is greener”, although the employee may not be aware of the new environment that is attracting them. If they are a top producer or are considered an expert in the industry, it is imperative for the existing company to do everything in their power to retain that employee. Outside of legal agreements, there are innovation and management practices that can be employed to make the candidate in question want to remain in their current position.
What if the candidate in question is someone who has young children at home? They may be looking for ways to facilitate flexible schedules so they can care for their children. Technology companies have always been at the forefront of innovative ideas and HR because they always consider this scenario and react very proactively to it. There are companies like Google and Apple that offer daycare on their premises. This way, the parent concerned can be sure that their child is well taken care of and will be close by in case of an emergency. Research has shown that parents are more productive in the workplace when they have an overall feeling that their children are caring for them and that they are in close proximity.
What if the employee feels they are being misinformed and being taken advantage of? Innovation management practices should have both tangible and intangible metrics. For example, an employee may feel like they are the top producer in the company, but are not recognized in meetings to implement new and innovative ideas. Management and HR can work together so there are opportunities where they can actually highlight employees who are performing well. Research also shows that it’s not always money issues that drive employees to leave their jobs. In many cases, it’s the feeling of being seen as a valuable member of the team. When they feel valued, their performance also skyrockets.
What about employees interested in working with a potential company? Innovative ideas for HR include a social platform that can be made public for new hires looking for employment. When the social platform is addressed and encouraged by employees, a potential employee can actually get a sense of the culture behind the company. There have been instances where an employee has been forced to leave a company because they did not “culturally fit him”. Innovations in management techniques would also require management itself to also participate in this platform. There is a growing trend towards so-called “flat organizations” in which open communication takes place and dialogue is encouraged. This can do wonders for potential employees and help with employee retention if they feel they are contributing to the company’s brand.