Finding, hiring, engaging, and retaining talent is a herculean task for any organization in these volatile market scenarios. It has been the most common, traditional trend for organizations to make their decisions on hiring or firing a talent based on their financial conditions. This is evident from recent cases where organizations have laid off their talents to meet the current recession phase across the globe. This, in turn, creates a sense of insecurity in prospective talents when deciding where to pursue their professional careers. Hence, trends evolved in such a way that a prospective talent looks beyond the pay scale while considering an organization.
Today's talents are looking for more than just a job; they want an environment and a well-defined culture that will help them achieve their professional career goals, balance their life and work, and a transparent and disciplined business operational culture that will help the talent feel more secure from their career and financial growth opportunities.
If an organization believes that its people are the central nervous system of the business they do, then it is time to rethink and recreate an employee experience that helps the organization grow and survive even in adverse market scenarios. To build such an employee experience, organizations first need to redefine the purpose of their existence and keep rehearsing the purpose they believe in. Based on this purpose, the organization can only then define the long-lasting organizational culture that helps them identify, engage, and retain talent for life in a more meaningful way.
In our 15 years of experience as a brand business marketing and communication consulting firm for many reputed brands across the globe, we are also no exception to such an employee experience dilemma. With our constant research and studies on employee experience and continuous real-time application in our own company’s culture and systems, we have managed to develop a full-proof employee experiential framework that helps us not just survive but grow in adverse market scenarios like COVID-19 and the current market recessions.
Our ‘employee experience framework’ defines the six phases of an employee life-cycle, from selecting the right talent to retaining the talent for life, (or until retirement), in any organization that is driven by its people. If you recognize and relate to the challenges surrounding talent retention as stated, we will be pleased to assist you!