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GIOF 2020Retention of a diverse workforce
Monika Navandar
As the idea of “a job for life” is being eroded and replaced by shorter tenures, the nature of job roles are changing, and with it employee retention and turnover. According to the CIPD’s 2020 Resourcing and Planning Survey, the rate of voluntary employee turnover almost doubled from 5.5 % in 2014 to 10.1 % in 2019.
This matters to businesses. As reported by Oxford Economics and Unum, in 2014 the average loss of an employee earning £25,000 or more cost a company an average of £30,614.
This webinar will show you how to create an employee retention strategy that accounts for differences in age, race, and gender. You will also learn how to ensure your approach to employee retention accounts for post-pandemic workplace changes, as well as both current and future employee desires.
With this webinar, you will gain insights on:
- How to understand and provide tailored employee value propositions
A significant number of employees are looking for meaning in their jobs, not merely financial satisfaction. You will learn how to establish satisfying benefits for your employees. - How to make progression possible
Retention cannot exist successfully without progression. You will be informed on how to practically implement progression at your workplace. - How to make compensation competitive
Since it is essential to ensure that payment is fair, you will learn how to connect compensation with employee performance. - How to create a retention strategy
Along with creating an effective retention strategy, get information on the importance of stay and exit interviews to increase your employees’ job satisfaction.