The economy is in relatively good shape. The labour market is improving and becomes more and more a candidate’s market. There are more career choices to make.
After years of ‘career prudence’, people might consider to take another career direction. The intention to leave an employer has been higher than the actual attrition for years. But in the current favourable conditions people might decide to leave their employer anyway.
Retention is more than making it impossible to leave.
Employers who are conscious of this risk might consider to work on retention. They will focus on critical functions. People in these functions can expect a charm offensive.
However if organisations focus on retention only in times of scarcity they might be in for a surprise. Only organisations that have developed sustainable people practices independently from demographic issues will profit from a retention bonus.
For organisations with true intentions about people there will be a retention bonus. For the others there will be a retention cost.
The others might loose critical employees or might find themselves with an army of cynical mercenaries who stay in their golden cage. In the latter case we know how absenteeism, burnout and disengagement will evolve.
Because the successful organisations will not (only) have created a golden cage. They will also have built a context where people really want to work. And the loss caused by leaving will not only be financial but also emotional.
Employers, which kind of people do you want? Employees, which kind of employment do you need?
