Employee Retention Policies in Action
Employee retention is a hot-button issue and for good reason: As the rate of retiring baby boomers grows in tandem with the widening skills gap, it becomes increasingly vital for organizations to look inward and ensure its employees are prepared for the jobs of tomorrow. Not only does that mean that employees need to be equipped with the knowledge and skills for increasingly demanding jobs, but also that employees should be given a line-of-sight into roles within the organization that would engage and satisfy them.
As we’ve seen, there are a number of ways organizations can improve and encourage employee retention. Of course, the nature of an effective employee retention policy demands that it’s adaptable to the organization in which it is employed and customizable to meet each individual employee’s skillset, interests and goals.
To that end, it’s instructive to look at how organizations are implementing their own career development models to increase employee retention. Organizations like Allstate and Comcast have started to encourage employee engagement, upskilling, leadership development and greater insight into internal career development opportunities.
Lynn Schroeder recently wrote an article on this topic, Why Should Employees Pick Your Company?, for Chief Learning Officer. She had the opportunity to meet with Business Champions, Allstate and Comcast, to learn how they are using development as a strategic retention and engagement tool.