As I started gathering my thoughts on how to attract and retain talent that is one of my favourite topics, I mulled over a scenario. A manager receives a resignation from a high performing team member but cannot understand the reason for departure. The resignation letter mentioned need for a ‘break’. Conversations happened around what can be done to retain her, and the employee once again said with clarity that she needed a ‘break’. As expected, when the news broke out, there was a stir in the office. Everyone was curious about why a high performing employee would want to resign.
Why do employees leave?
To really understand the reason, we must raise a key question – why do employees leave?
Some of the oft-cited reasons for departure include dissatisfaction with salary, lack of career progress, demotivation due to lack of acknowledgements and recognition and inability to strike a work-life balance. A few more serious challenges are getting added to this list such as burnout and stress at the workplace.
In fact, the World Health Organisation has included burnout in the International Classification of Diseases “as an occupational phenomenon” resulting from “chronic workplace stress.”
The pandemic has intensified this phenomenon even further. Employees are choosing to quit on grounds of burnout due to workplace stress, besides other reasons.
What can be done?
A study indicates that 38% of professionals in the GCC stay with an employer for more than five years. Therefore, along with hiring, talent retention is a serious discussion.
In recent years, I have noticed that more and more people are genuinely interested to understand the company culture and evaluate if they fit in. Along with compensation, associated benefits and upskilling opportunities, people are looking for a company culture that will help them to exhibit their talent.
Decades of research indicate that empathy that stems from high emotional intelligence is critical to attract and retain talent. At IdeaCrate, creating a company culture steeped in empathy has been a priority. Therein, we follow the principle of attitude over qualifications while hiring, strongly believing that skills can be developed if the person comes with the right attitude aligned with the company culture.
However, that is only the starting point. Thereafter, we must walk the talk by offering a work environment that genuinely values and cares for people, offers ethical work conditions and enough flexibility. Practicing these values at IdeaCrate has helped us to overcome multiple challenges during the pandemic. That’s not to claim zero attrition during the pandemic, but 2 out of 10 employees who left due to uncertainties now wish to come back. Meanwhile, those who shared the pain with us through the pandemic are being duly rewarded for their patience and trust.
Finally, how to attract and retain talent?
The corporate world is a competitive space, where work and achievements must stand out. However, two words that are being increasingly used, and practiced, are compassion and empathy. Organisations that are genuinely making empathy a common currency will be able to attract and retain talent. At the end of the day, people are not machines. They come with unique characters and abilities and if they are treated well, recognised and rewarded, they will stay.
Communication is another cornerstone of attracting and retaining talent. Clear and honest communication about company’s practices, policies, performance and even challenges are valued by people. They feel more connected and even committed to the organisation.
More than ever before, wellness at workplace has become incredibly crucial, as burnout is impacting many professionals. Any organisation that ignores this aspect might be able to hire but not retain talent in the long run.
Before signing off, I would like to ask a few questions:
- Do you feel excited to come to work every morning?
- What change(s) would you like to see in the workplace?
- Finally, what are you willing to do to make it a better workplace?
By Shankar Kandasamy,
People’s Person, IdeaCrate Edutainment Company