Employee Retention, the ability of an organization to retain its employees, has always been a primary concern of every industry. Every time companies desire to keep great talents for great work because they understand only a good employee can enhance a company the way company wishes. However, the amateur companies don’t know what strategies they should follow to retain their employees who have potential that can help their companies to reach the heights. You need not worry now because I have framed a write-up for you which contains top five tips given by top-notch companies for keeping talented people in the company. So, here you go with the employee retention strategies which will also help you build your empire:
1) Adidas: Adidas is a multinational corporation, founded in Herzogenaurach, Germany which designs and manufactures shoes, clothing, and accessories. Nowadays, Adidas is a renowned group in the field of sports. However, what is Adidas’s Success Mantra that helped Adidas build an impeccable empire? The Adidas Mantra for retaining great people is that they nurture a unique culture in the company. The company promises its consumers that sport is at the heart of everything they do. The company inspires employees who want to make a difference by harnessing the power of games. Karen Parkin, an Executive Board Member who is also responsible for Global Human Resources firmly believes that this strategy attracts both consumers and employees.
The company believes in four pillars; ‘moments that matter,’ ‘cultivating role models who inspire,’ ‘bringing in fresh and diverse perspectives’ and ‘creating an atmosphere where employees work creatively to make a difference’ for attracting and retaining great talents. So, keeping these four pillars in mind can help you preserve talented people in your company.
2) Accor Hotels: Accor Hotels is a famous French multinational hospitality firm which owns, manages and franchises hotels, resorts, and vacation properties. Their operating philosophy is straightforward. Their working fundamental is if they take good care of their colleagues then only they can take good care of their guests who will enhance guest loyalty and their financial performance. Their Core Values of Respect and Trust are the foundation of their culture which instills enormous pride and commitment in their people.
The most critical factor in retention is to create a valuable employment experience and make employees believe they make a positive contribution. Also, to provide them with a platform where the employees have a voice, their opinions matter and they have opportunities for growth supported by strong leadership. So, following their strategy of creating a valuable employment experience can let you retain your valuable employees.
3) Aegis Living: Aegis Living is a leader in senior assisted living and memory care facilities which believes it’s crucial to have the foundation in place to retain great talent. They understand people spend 1/3rd of their waking life at work. That’s why they make them feel exhilarated and motivated. They also know their employees add value in what they do.
They believe, “The best retention program for a company is to provide a culture that unites, engages and inspires its employees. If such environment is not in place, then no retention program can bring a company’s employees back.” So, develop a culture that brings out the best in people in spite of a culture where people only come to work for the paycheck.
4) Airbus: Airbus is a European multinational corporation which designs, manufactures and sells civil and military aeronautical products worldwide. The company has experienced vast growth in the last decade and currently has 134 thousand employees holding passports across 135 nations. The motivating and fascinating multi-cultural aspect of the company is sufficient enough to retain people but also the recent innovative expansions are a massive attractor for new employees. Their business model which is a combination of platform expansion with a variety of cutting-edge HR programs is a complete package for optimizing company’s reputation.
Airbus fully embrace the mindset that people make the difference, not jobs. Every employee in Airbus is given access to the most senior executives which builds a mentality in the employees that they indeed have a voice in the company’s development. This gratitude of Airbus towards its employees is a primary reason for retaining talented people in the company.
5) ARM: ARM is a multinational semiconductor and software design company which is owned by Softbank Group and its Vision Fund. The development of leading-edge technology in the company impacts global society which is an excellent start for retaining valuable employees at the ARM. Also, ARM provides its people with a healthy and challenging work environment which helps ARM in creating a difference in the industry. Their culture is collaborative, hardworking and polite which help them attract top talent. The employees of the ARM have the liberty to deploy their abilities to create a compelling proposition which is beyond the salary or package they offer.
Their approach is to ensure people that they “work to live, rather than live to work.” Also, the ARM gives its employees the flexibility to follow their passions so that they could attain their potential at work. In this way, their approach of providing a flexible working environment, sabbaticals to have a break, volunteering activities, open conversations about families, and an interest in what their people do outside of work is their strategy to retain great talent at the ARM.
No doubt you cannot retain a great talent forever in your company; however, above are the strategies which will help you keep a good employee in your company. Good assets are always valuable for a company to grow and make a name in the industry. So, following these strategies will not only help you preserve good employees but also motivate you to attain heights in the market on a global scale. Enjoy the name, fame, and success with these strategies which are exceptionally plotted for the amateur companies so that they do not face difficulties in retaining valuable assets.