Where does retention begin and end? This is one of the questions being asked now by managers and HR professionals the world over and the boundaries are becoming less and less well defined. There now seems to be few absolute boundaries in how we manage our talent, but is this really a bad thing?
Interestingly, 100% of last month’s Beilby Rewards recipients indicated that they believe being upfront about expectations during the recruitment and retention process is key to attracting and retaining high performing individuals but it doesn’t end there.
How do we build these relationships?
Simply sticking to what has worked in the past just doesn’t cut it. This is not to say we throw out best practice tools such as 360 degree feedback, employee surveys and performance appraisals. These types of tools are crucial to ensure consistency of approach in measuring and managing employee relations.
However, the key message, especially from the ' Y can’t I' generation is; Come down from the ivory tower and get in amongst us… include us.
Generation Y are the workforce of the future and we need to take on board the changes in approach to how we interact with them and then apply the strategies across the board. Relationship building at ground level is the only way forward. It won’t stop people leaving, but it could have other far reaching results.
When do we start building?
Building relationships with our employees begins at the first point of contact through the messages we convey in our recruitment campaign and continues throughout the on-boarding process. They are built as a result of how we present our brand through our employee branding strategy and how honestly we have communicated our brand prior to and during the engagement process.
When do we stop?
Clearly, opportunities to continue building those relationships with employees present themselves once they are working with us. Assuming we have developed a strong and open collective management style, we can layer a range of additional communication tools including intranets, mentoring and coaching programs, personal development meetings and social clubs to promote continuing dialogue.
However, for most organisations, this relationship building stops when the employee decides to leave - or this is what we used to think. The new mindset turns exiting and ex-employees into friends, not foes. Forward thinking employers consider the lead up to the exit, and beyond, as a huge opportunity. They view the exiting employee as:
• a goodwill ambassador,
• a potential new client, and
• a future re-hire.
The way these organisations are tackling these issues is by becoming proactive in the departure of valued employees and maintaining contact through initiatives such as alumni programs.
The value of social networking capacity.
When we think of the value of an employee in terms of skill sets, we measure human capital. When we think of social capital management, we can measure in terms of potential networking capacity, the ability to refer new business and employees and open new national or international markets.
It doesn’t stop here though. Not only are these employers talking to their ex-employees, some of them are also proactive in helping them to find placements with clients and business partners.
Strategies of this kind are beginning to take hold in many reputable organisations around the world. Alumni programs, made popular in large institutional organisations such as universities and colleges, are becoming more common in the business world.
The potential payback starts to become clearer.
So is this the new way forward in employee retention, actively helping people leave?
Perhaps the final litmus test for this new approach is: What kind of company are you most likely to support? One who cuts you off when you decide to move on to a new challenge or one who leaves the door open for the future?