In July’s article on talent mobility, we explored why building talent pipelines is important to ensure a steady flow of candidates for current and future hiring needs. In this edition, we will focus more on internal strategies that can reduce talent mobility, not just due to relocation to other countries but also between companies in the same geographical location.
As managing talent evolves, companies face the challenge of attracting and retaining top talent. This current wave of talent migration, fuelled by the pandemic, opened borders, and remote/hybrid work trends, bolsters the importance of being strategic about mitigating movement.
Where migration is concerned, people are motivated by diverse reasons, from career growth and better living standards to more favourable work environments and family life preferences. Data shows that Nigerians are Canada’s fourth-largest source of immigrants, with over 20,000 Nigerians granted permanent residency in Canada in 2022 alone. 1
If we are being honest, migration is a tale as old as time itself. Relocation is bound to keep recurring, albeit in higher volumes, during specific periods. The Great Resignation that has plagued the world has also seen major talent movements within industries, within countries, and between countries. To counteract the mobility trend, companies must implement internal strategies that create a compelling case for employees to stay. Here are 3 strategies to start with:
Prioritising culture is key! Companies with cultures that are positive and allow employees to thrive through open communication, collaboration, and innovation will do better at retaining talent. Throw in good recognition programs, strong well-being support, and leadership support, and attrition rates will reduce. Why? Employees are more likely to stay in companies where they feel valued and engaged. In a recent poll by The Female Lead on LinkedIn with 98,744 respondents, 71 percent polled work culture as the main reason they left their last jobs. The second reason was compensation at 15 percent. Organising culture sessions that integrate and reinforce values and behaviours in employees and leaders alike will keep people aligned and engaged longer than they otherwise would have.
- Compensation can be a touchy subject where companies are concerned. Offering competitive compensation packages and benefits can be a significant factor in employees staying longer than they would have otherwise. In situations where it may be hard to compete against salary benchmarks, companies would need to innovate around the benefits beyond the obvious health benefits, pensions, and paid time off. Other benefits can include flexible work modes, professional development opportunities, e.g., tuition reimbursement, family care support, and birthdays off.
- Remote work and flexible schedules have transformed employee expectations post-pandemic. Companies offering flexibility in work arrangements will be prioritised as they accommodate employees’ commitments and enhance their overall job satisfaction. Employees expect hybrid work models, at the very least, especially in roles that can be carried out effectively remotely. Remote work not only improves retention but also attracts top talent who value work-life balance.
Tackling internal mobility requires a one-size-fits-all approach. Involving the team, start with these 3 strategies to create an environment where employees feel valued and there will be a noticeable decrease in talent mobility within the organisation.
Toun Tunde-Anjous is the Founder of The People Practice, an end-to-end HR Advisory firm that powers businesses through people, culture and technology.
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