Identifying leitmotifs for strategic retention management
Employee retention is considered a central factor for corporate success. Retention does not just mean that employees do not want to leave the company—for whatever reasons—but rather an identification with its goals and values, and the resulting willingness to go far beyond what is required. Strong retention means personal initiative, loyalty, dedication, and productivity, fewer absences, and high-quality work results. Employees who show strong retention bring not only their skills, but also their heart and soul, providing a crisis-proof foundation even in stormy times.
Retention management encompasses all strategic measures aimed at keeping employees in the company or binding them to it.
Every new employee represents an initial investment: on average, it takes 3 to 6 months until they have found their place in the team and the onboarding phase is complete. On the other hand, every lost employee takes know-how with them and causes a high expenditure of time and money to refill the position. A well-thought-out and consistently practiced retention management helps to minimize this effort and to deploy existing personnel resources optimally.
The possibilities are diverse – from attractive career options, various financial incentives, team events, and individual working time models to Google's amusement park atmosphere. So for those looking for inspiration: the media is full of tips and best-practice examples. The only question is: Which measures are the right ones for MY company?
"I know that half of my advertising is wasted. I just don't know which half." Henry Ford
In the broadest sense, an employer is permanently "advertising" for its most important top performers. What Henry Ford said about advertising budgets can therefore certainly be applied to employee retention measures – provided you know how your employees "tick". The understanding of appreciation and appropriate return value can vary greatly. What is motivation factor number one for one person can have the exact opposite effect on another.
EMOTIONALLY ORIENTED individuals are not impressed by material things; they draw their strength from personal relationships. CALCULATIVE ORIENTED individuals need measurable facts. GROWTH-ORIENTED individuals look to the future and need perspectives.
This also explains why some measures fall flat and the scattergun approach does not work in retention management. For emotionally oriented people, a sincere thank you – acknowledging and valuing high commitment – is worth more than a permanent parking pass for the old town. Conversely, calculative-oriented people need something tangible (such as a permanent parking pass for the old town) and may perceive a mere thank you as cynical and condescending. A growth-oriented person, in turn, needs perspectives worth fighting for. If there is no career progression within the company, neither material nor immaterial measures can retain this employee. Therefore, anyone who wants to build strong employee retention should first figure out what drives their employees.
If you fill a petrol car with diesel, you shouldn't be surprised if it doesn't run.
The foundation for effective retention management is knowing what "fuel" is needed. PERSENTIS sheds light on employee orientation, identifies their guiding motives, and thus supports a targeted, structured approach.
