The recruitment game is a costly one and companies around the world are realizing they should stay out of it as much as possible. And just like everything else it seems, technology can be used to improve the retention of employees.
According to a recent study from the management consulting firm Accenture, 68 per cent of global leaders believe that retaining talent has become more important than recruitment.
“People aren’t tied to the one employer concept anymore,” says Alden Cuddihey, a partner with Accenture.
Instead they believe their relationship with their employer is a pragmatic one in which each partner benefits mutually. It is just one part of a larger career development plan for the employee, and the employer has to accept this and respond accordingly.
A lot of employees are looking for project work — people love the focus and they love the buzz, Cuddihey says — but often there is no system to manage project work in a company. Companies can create a talent exchange so that employees know exactly what project work is coming up, how they apply, and how they can take the skills they learn on one project and apply them at the next level.
It is possible today to create a home page for every employee that would have everything related to his performance. It could cover objectives, it could be a forum to provide feedback, and manage his development plan with links to support tools. Employees value companies that provide them with those kinds of tools to manage their careers.
Similarly, a great knowledge management system can be key to hanging on to staff. People want to stay current and they know they can do that best when they can tap into the knowledge of people across the organization.