EMPLOYEE RETENTION IN THE CONTEXT OF THIS PANDEMIC
Employee retention in the context of this pandemic is clearly not an easy task!! As part of our executive search practice, we continually remind our clients about the importance of having leaders who inspire and mobilize their teams and that, most of all, focus on retaining key employees! Many studies show that employees do not leave an organization, but their bosses.
WHAT WOULD BE YOUR CAREER INTENTIONS AFTER THE PANDEMIC?
In addition to these findings, an article published on June 2020 in a Canadian renowned business journal ‘’ Les Affaires’’, the largest Canadian owned market research and analytics company Leger, conducted a major national survey on employee retention: ‘’What would be your career intentions after the pandemic’’? One of the results was quite revealing: 53% of respondents would be willing to change jobs if an employer offered them better work-life balance conditions. This to say that having a boss with no leadership/mobilization skills along no work-life balance policy is doomed for failure. Who said that these expectations or requirements were considered essential only by female employees and not male employees? The reality is that gender is no longer associated with those.
RETENTION RATE: WOMEN EXECUTIVES NOW LEAD THE WAY!
For the past five years, our internal statistics have showed a very interesting trend: women candidates at the executive level, have
a higher retention rate than men. Their higher retention rates now become an important factor in the hiring process for our clients.
For equal competencies, they now have an edge over their male counterparts.
WINNING FORMULA
Facts: Through the last 5 years of assessing our women executive candidates in their work environments, we have noticed that they have quickly created and deployed policies to allow for greater flexibility in carrying out the roles and responsibilities of their managers/employees, where this was feasible. Their testimonials pointed out that beyond these policies, their successes came from a clear understanding of their employee’s needs while setting up a custom-made approach to meet their needs or those of their team members and increase retention rates.
As pointed out by a key women HR executive Annie Ducharme Director, Human Resources Business Centre at VIA Rail : “It is essential to develop/train our leaders and recruit the ones whose values and managerial strengths rely on developing a real collaboration with their teams. They are those who not only consider but live by the following essential principals: recruit, train, motivate and retain!”
