The Retention Game - 7 cards to play

Workforce challenges are top of the list of priorities for organisational leaders across most sectors. They are a staple of the national media’s daily offering. And they are at the heart of global debates around post-pandemic reboots and the future of work. So, I was expecting the recent Business Forum International (BFI) training workshop on employee retention to be a lively affair. I wasn’t disappointed…

It was a real pleasure to chair this event on such a timely and challenging topic and to take stock of a tidal wave of front-line feedback from participants and my two guest speakers: Jas Rai, Head of People at the British Library and Kevin Green, Chief People Officer at First Bus (a division of FirstGroup Plc). Here’s a snapshot of takeaway messages and my 7 cards to play:

1. Recognise the scale of the retention challenge

This is real, folks. 57% of workshop participants said retention was a significant concern, with a further 19% flagging it as a massive threat requiring radical action to turn things around. 24% said that it wasn’t a massive issue at the current time, but recognised the need to be prepared. Employees are not only reviewing where they work, when they work, and who they work for, they are also reviewing whether they work at all! The pandemic has created a well-documented realignment of life priorities, which has led to significant numbers taking early retirement. This has exacerbated pre-existing workforce and retention challenges.

2. Secure senior level buy-in, and shore it up

Do senior leaders recognise the scale of the workforce challenge? In the main, yes. But this doesn’t always result in the right action being taken and the right budgetary allocations being made! According to Kevin Green, one crucial factor is to “draw clear linkages between the people strategy and customer experiences”. The pivotal role that HR has to play within this context was picked up by Jas Rai: “HR was listened to during the height of the Covid crisis; the priority now is to maintain that seat at the top table”.

3. Identify the multi-faceted drivers of attrition

Retention strategies cover so many areas, the key is to focus on the basics first (e.g are basic policies up to date?). In terms of new initiatives, the advice from Kevin Green was to be clear from the outset on “what you want to achieve as well as on how you will measure progress”. Pay is clearly a major driver of attrition, especially at a time of rising living costs and an incredibly competitive market for staff and skills. Reviewing regular data on pay is one way forward; and some employers have used external experts to lead wide-ranging pay reviews. Counter-offers are a short-term fix and most participants were focusing on other factors such as embedding new working patterns, understanding employee expectations, creating a sense of belonging and becoming a genuinely diverse workplace.

4. Roll the dice on people-centric managers and leaders

In the words of Jas Rai: “The reality is that attributes such as empathy have always been needed; but the pandemic has made management competencies more visible and created new expectations”. Practical developments flagged during the workshop include new approaches to staff appraisals, creating space for more regular one-to-one conversations with employees and developing a ‘coaching mindset’.

5. Unleash ‘Engagement 2.0’

Employers are using more frequent pulse surveys to take the temperature of what people are really thinking and feeling. One challenge flagged by participants is to manage expectations (“we can’t act on all suggestions!”) whilst demonstrating that people ARE being listened to. How else to drive engagement in 2022? In addition to regular surveys, employers are using externally facilitated focus groups or more informal mechanisms (e.g. cross-departmental lunches) to generate qualitative feedback and better understand employee perspectives. Knowing where you stand is an essential building-block of any workforce strategy. Being clear on where you want to get to is another.

6. Embed new working patterns as a retention ‘deal-breaker’

Should line managers be given the autonomy to determine the most appropriate remote/hybrid working patterns for their team? Does this create a risk of inconsistent approaches across the organisation? These are live topics within many organisations. Some managers actually prefer clear protocols and directions which is a further complicating factor. One area of consensus is that the end-goal should be to ensure that employees WANT to come back to the workplace for at least part of the week. Creating joint-learning opportunities, a vibrant work environment and inclusive social events were some of the examples flagged by workshop participants.

7. Re-tune internal communication to set the tone

Clear communication and consistency of message are key components for driving understanding and engagement in a way that ultimately boosts a sense of belonging and retention. As part of this, organisations are reviewing not just the content of their internal communication and the channels that they use; they are also reviewing their tone of voice. This aim is to inject energy, personality, and humour (when appropriate!) in a way that drives increased awareness and engagement. The tone can also be set by internal ‘influencers’ and ‘energisers’, who have a galvanising impact on their peers.

Winning at retention means playing the long-game

Underpinning all of the above, is the development and reinforcement of a conducive organisational culture, which can be a lengthy and arduous process. But winning at retention means playing the long-game; it also means regularly sharing views on what works (and what doesn’t) and reviewing the latest research and external developments. Platforms such as recent (and forthcoming!) BFI retention workshops are an opportunity to co-create new approaches to shape-shifting workforce dynamics. Let’s stay in the game!

Upcoming Retention Workshops and Summits 

The next Retention Workshop will take place on 22nd September. Registration details can be accessed here.

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