Talent retention has always been a significant challenge for organizations around the world. It is as true today as it has ever been.
Organizations believe they should incorporate more imaginative ways to reward staff. A tired, ineffective and unengaged workforce is the last thing you want. As well as key staff leaving when you have limited time and budget for recruitment. But how does this impact on HR strategies?
Our recent research about shaping talent in an uncertain world has shown some key areas businesses around the globe should focus on to ensure and maximize talent retention.
Here are 4 key strategies HR managers should incorporate:
1 – Engagement and motivation
Business leaders believe it is more important than ever to ensure employees are engaged and motivated towards achieving their company’s goals.
It is listed as the most important factor in helping organizations deliver against its people challenges. Yet many organizations are not confident in their ability to deliver on engagement and motivation. Make sure you utilize your resources to engage your employees and continue improving motivation to avoid poor morale and failing performances.
2- Delivering leadership skills
Good leaders tend to be good motivators – Find keys strategies for leadership development -. And reinforcing leadership talent can have an important effect on employee morale.
At the same time, many organizations are growing internationally which is likely to complicate the task of leadership. If good leaders cannot communicate effectively across languages and cultures, they will then be unable to deliver leadership skills which are a key aspect against people challenges.
Organizations should consider awarding employees by providing a language training program – here are 10 tips to find the right provider – to help develop their leadership skills throughout the company.
3 – The crucial need for creativity
Creativity is crucial, as reduced consumer spending and competition are forcing organizations to become more innovative.
In a world where the ability to generate new ideas can spell the difference between business success and failure; it is more important than ever to foster creativity and help workers recover the spark of inspiration.
4 – Organizational transformation
In a time where organizations could face rapid changes in direction, such as a transition from national to international; it is crucial that employees are prepared and flexible enough to follow these changes.
For the workforce, this could mean language skills and cultural knowledge suddenly being of vital importance. Organizations with international ambitious increasingly expect employees to be fluent in key foreign languages, such as English.
To find out more about how you can overcome the Talent Crunch, download our report here