Retaining talent is an ongoing challenge for organisations in every sector. As we emerge from a difficult two years, ways of working have changed, teams have learned to connect differently, and individuals have re-assessed their personal and professional priorities.
For employees, the opportunities for hybrid and flexible working have made geography much less of a consideration when choosing or leaving a role. Other factors have come to play a much more pivotal role in determining whether organisations can attract and retain the best people, such as purpose, values, culture, and connection.
For employers, high levels of turnover mean that the need for an effective retention strategy has never been greater. And by effective, we mean tailored, data-driven and targeted. The onus is on those competing for talent to respond to changing employee needs. Retention is no longer an HR issue; it is a critical business issue. An effective retention strategy will be fully aligned to clear business performance metrics with demonstrable ROI to guide prioritisation.
But how can we predict what’s likely to happen among our employee base over the months and years ahead? That’s where ENGAGE Retentionomics comes in.
Retentionomics is a bespoke, predictive analytics solution, designed specifically to help your organisation retain your best talent. Crucially, it enables organisations address retention risks before they become a reality.
The solution takes a unique, dual approach using the employee and business data you already to answer two critical questions:
1. What is driving attrition and helping you retain your best people?
2. What impact is attrition having on business performance?
This dual approach gives your organisation a completely customised Retentionomics Model. It highlights the strongest drivers of talent retention and talent loss and provides the foundation of a retention strategy based on data-driven, targeted action with certain groups or on certain issues.