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Right now, in businesses across the world, talent retention is everything. Organizations need to understand how best to motivate, develop, and, above all, keep their best people. The key to mobility, retention and development is 'engagement'. If employees are engaged they are less likely to leave. But how do you build engagement in a hybrid work environment, and after a challenging few years? Understanding what everyone requires is important, understanding these requirements can vary is vital.
For many employers, however, there is a chasm of disconnect between what employers want and what employees now expect. The latter no longer see themselves as part of a business’s transformation journey. Rather, the employer is part of their career journey. The tables have turned, with employees in control.
Businesses need to respond and find new ways forward – quickly. Our research, conducted among hundreds of organizations and talent across the world, shows that almost half of all employees are actively looking for a new job – or plan to be looking very soon. Our report provides fresh new insights into the key role that coaching can play for employers to stay ahead of the competition in this, the biggest talent crisis for many years.
Coaching has long been seen by employers as the exclusive domain of the business leaders of today and tomorrow, a clique of a business’ top performers. Those who provide it, know its value in unlocking the potential of both the organization and the individual. At Randstad RiseSmart, our aim is to democratize coaching, ensuring an organization can offer it to every member of staff as the key approach to securing retention, increasing engagement and enabling talent mobility.
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There are challenges, however. Current coaching packages and pricing models fail businesses. They are forced to subscribe to restrictive packages that are not fully utilized, with pricing packages geared to top performers and lacking any scalability. At Randstad RiseSmart, we want to enable customers to unleash new possibilities for all their employees.
It is clear from the research and from our market understanding that in 2022, organizations need a new coaching solution. One that is agile, scalable, and cost-effective, to allow coaching to be truly offered to every level of employee in an organization.
To retain employees, HR decision-makers and people, leaders must now align with employees’ desires to work for a business with a clear vision and purpose, a good level of employee engagement, and the opportunity for internal mobility within the business. There are reasons for hope – our research shows that most staff
turnover is preventable. The small minority of organizations attracting and retaining employees successfully, use coaching to focus intently on retention.
While the factors that influence retention are many and varied, this report shows how this can be achieved through deploying a coaching-centric approach to all manner of HR priorities that ultimately contribute to whether an employee wishes to stay or leave your organization.
As we stated, engagement, is critical in a modern workforce. However, our research demonstrates the central impact that coaching can and must have on those major HR priorities; retention, mobility, career development, and inclusion, in the post-pandemic era.