Talent retention is a top priority for business leaders in 2022 (Steen, 2022). Ensuring that an organization has a satisfied, engaged, and productive workforce is a concern that extends to all organizations worldwide. A recent study reviewed 47 research publications to identify organizational culture components that most influenced employee turnover and retention (Wright, 2021).
Employee job satisfaction was consistently, and not surprisingly, found to be the strongest and most consistent predictor of retention and turnover. The good news is that research also identified specific strategies leaders can use to limit employee turnover and increase retention:
- Provide employees with emotional, ethical, social, and material support
- Work to achieve a balanced values’ congruence between employees and the organization
- Offer opportunities for employee growth and advancement
- Recognize employees for service, productivity, and teamwork.
- Reduce job-related stress
- Create meaningful work
- Empower employees by including them in decisions that affect their work and careers
- Ensure the workplace is safe, conducive to positive relationships, and free from negative behavior
Retention is not a guessing game, but rather the result of a leader’s strategies and actions. Work to make your employees happy, and they will do the same for you.
Steen, J. (2022). Prominent CEO Survey Reveals a Critical Challenge for Business in 2022. Inc. https://www.inc.com/jeff-steen/prominent-ceo-survey-reveals-a-critical-challenge-for-business-in-2022.html
Wright, E. (2021).The Effects of Organizational Culture on Employee Turnover. Performance Improvement Quarterly, 34(3), 303–319