Companies of all sizes and in all industries are currently facing the same issues: high waves of layoffs, low employee retention, and a significant shortage of skilled workers. The search for the appropriate metrics to retain employees remains. But what can companies do to retain their employees in the long term?
Companies must act. Across Europe, 62 percent of companies say they have difficulty retaining their staff. One reason for this is certainly the collective change in values that has crept in or been enormously reinforced by the global pandemic. In the current work era, there is a breath of fresh air with new values that are creating pressure for companies to act. It is clear to see that companies and HR leaders are now targeting their priorities on talent acquisition and retention.
In this context, the statements made by HR managers (90%) that there is a clear shortage of talented specialist staff in their companies are all the more alarming. How does this situation come about? Companies must learn to understand the change in values and at the same time begin to listen to their employees. Nearly three-quarters of employee respondents (71 percent) agree in their thinking that a healthy work-life balance is extremely important today and has a significant impact on their choice of employer. The home office era caused a re-evaluation in employee thinking due to unclear boundaries between personal and professional life. Nowadays, it is important to be able to freely determine working hours and location. The issue of salary is also given new relevance by employees and represents a central decision-making factor in their choice of job (71%).
It is now the task and at the same time the challenge of the companies to have an open ear for their employees and to record their requirements. Through clear communication, metrics can be defined to emotionally bind employees to a company and provide them with tools to generate a suitable working environment for them.