In the last two years, talent has changed its priorities at work and challenges to retain human capital they are getting bigger. As Eduardo Asaf, a partner at McKinsey & Company, put it: “It is impressive to think that so many people are willing to leave their jobs and their current conditions.”
For the specialist, the increase in the probability that people give up, even to try their luck in areas that they do not dominate, is closely linked to fatigue and a change in their expectations. “Staff satisfaction, the employment relationship and many other things have become critical for the staff and are issues that we have to approach very carefully and cautiously,” he said during his conference Staff turnover and retention.
In his presentation at the International Congress of Human Resources 2022 of the Mexican Association in Human Resources Management (Amedirh), Eduardo Asaf considered that one of the most important challenges that companies face in retaining talent is the gap that exists between the aspects that employees value most and what leaders perceive as the elements that most prioritize talent.
“There are things that employees value a lot, but employers don’t realize or they do not perceive that they are such relevant elements for their own staff, here we find things like feeling valued by the organization and the manager, that there is a sense of belonging to the company and the mission pursued by the company, that there is a suitable work environment, that there is potential for advancement in the career and the possibility of flexible hours”, he pointed out.
In this sense, the construction of work spaces where people feel satisfied and are at the center of strategies is vital for the employee retention in the current context.
For this, the specialist recommended that the Human Resources areas reflect on at least 7 aspects to know if they are offering an adequate workplace and in line with the new priorities of the collaborators. These are the questions that talent management departments must answer to retain the workforce:
- Are there toxic bosses in the company?
Leaders play a key role in retaining people. “Bosses can drive people away from the organization,” she stressed. When leaders don’t motivate people, employees are more likely to want to leave.
- Does the company have the right people in the right place?
On many occasions, companies have great talent, but it is not taken advantage of because it is located in a position where its abilities are not exploited. “It’s generates a lot of frustration in people, because they begin to feel wasted and that there are a series of capacities that are being left behind”.
- How rigid was the culture before the pandemic?
This question is important because it is a reality that the pandemic and its effects on the world of work generated a change in people’s priorities and if the culture does not evolve according to the needs of the employees, retention becomes increasingly complex. . Companies with rigid cultures have had a harder time adjusting to new employee expectations.
- Is the work environment transactional?
“People don’t like work to be transactional,” said the specialist. This means that organizations that perceive the work of people only as a financial value, underestimate the human value. “The employees value meaning at work because nobody likes to be just a transaction.” And if the retention is only based on salary, you are communicating to people that the value they have for the company is only economic.
- Are the benefits offered aligned with the priorities of the employees?
Before the pandemic, meal vouchers or gym passes were recurrent in benefit schemes, but it is likely that these benefits superior to those of the Law no longer have the same relevance for talent. “We’ve found that 45% of people mention family care as something that is helping them decide to stay or leave their current job.”
- Is it generating a career development?
Career development does not mean that everyone becomes a manager or director, but it does mean that people find a recognition for work that they realize and perceive that they are having achievements and developing skills.
- Is there a sense of community in the company?
Interpersonal relationships are important in all companies and in a context in which the new work model is being defined, face-to-face activities have a great advantage in building a sense of community, but it requires changes in organizations to comply with this goal.
Retention, a change of mentality
From the perspective of the McKinsey & Company partner, companies must be self-critical to know if they are building a work environment where people feel comfortable.
“To the extent that we can ask these questions and rethink our work model and talent retention, we are going to reverse the resignation trends in companies”, the specialist pointed out.
For Eduardo Asaf, this scenario of rethinking employee expectations can be seen from two angles: as a crisis or as an opportunity for companies to strengthen their retention strategies.
“It is necessary to adapt the type of work and we refer to what is done, how it is done and when it is done, it is not a minor issue because it really gets into the guts of the organization itself and many times the culture is very intertwined with the way in which we work and it will be necessary to change this culture to access a pool of talent,” he stressed.
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