Strategies for Attracting and Retaining Talent in Organizations
Enhance employee engagement, increase organizational performance, and improve retention rates by focusing on drivers of attraction and retention, aligning with employee values, empowering people, optimizing work environments, and providing growth opportunities.
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Presentation Transcript
Attracting and Retaining Human Capital David Lofquist, HR Director for Russia, ExxonMobil 1
Employee Engagement Discretionary Effort An employees willingness to go above and beyond the call of duty such as helping others with heavy workloads, volunteering for additional work, etc. Employee Engagement The extent to which employees commit to their organization, how hard they work and how long they stay as a result of that commitment Organizational Performance Intent to Stay The employees desire to stay with the organization, based on whether he or she intends to look for a new job, frequently thinks of quitting, or is actively looking for a job 2
Attraction and Retention Drivers Top Global Drivers of Attraction Top Global Drivers of Attrition Compensation Future Career Opportunities Development Opportunities Stability People Management Supv / Mgr Quality Work-Life Balance Recognition Work Environment Supv / Mgr Quality People Management Stability Compensation Work-Life Balance Ethics & Respect 3
Employee Values Future Career Opportunities Development Opportunities Stability Compensation Rewards Opportunities People Work Recognition Work Environment Work-Life Balance Supv. / Mgr. Quality People Management 4
People Enable employees to contribute to organizational success Provide clear goals and direction, instill ownership Provide routine informal feedback Enable team feedback to augment supervisory feedback 5
Work Provide relevant, customized and timely recognition for teams and individuals Ensure mutual trust and respect, open communication Facilitate meaningful peers interaction to enhance productivity Promote work/life balance and ensure flexible workplace programs are available and supported 6
Opportunities Provide line managers with communication guidelines to effectively communicate around organizational stability Demonstrate trustworthiness by delivering against career expectations Help employees reach personal development goals Work experiences contribute to professional growth and development (technical and leadership) in line with business needs 7
Rewards Long-term, career orientation Rewards performance, experience, and responsibility Provide externally competitive Total Remuneration (TR) package Employees understand the remuneration philosophy and underlying principles 8
Summary / Key Strategies Restart Career paths to avoid attrition Provide Development, not Just Promotions Realize the Full Value of your Total Remuneration program through improved Communication Enable Peer-Driven engagement and Productivity Develop an Internal Informal Feedback Process 9
