It appears as if in our industry (retail) we have seen a shift over the last year in new hires. Many older workers (over 40) seem to have the loyalty factor, where they stay in jobs to reach longevity and a
Do you experience generational differences in retaining employees?
Answers
I have spoke to some temp agencies and they suggest that many people that were unemployed are back to work so they are not seeing a vast amount of applicants. I think this has impacted us a bit. We are trying several new applicant systems. Indeed seemed to produce the best amount of candidates but recently we started trying some other avenues.
Your exiting/resigning employees are your best source of information. Damn what others in your industry say or experience.
Exit interviews and finding out the real cause/s of the churn would help your firm. I do not "fully" subscribe to industry norms. There are industry factors but they are NEVER constraints.
It could be a lot of reasons.....compensation, it could be that your store managers or bosses are a PITA, it could be culture (NOTE: you dont have to have a culture similar to others in your industry), or it could be that they see no room to grow as examples. I know mom and pop brick and mortar retail stores with long time employees. I do not see it not being able to apply to mid to large firms.
It is an imperative to properly safeguard all the assets of an organization – human capital being one of the most important. And the best way to safeguard your human capital is to keep them engaged and motivated by integrating steps to retain and sustain high performing employees in the organization.
Kaye and Evans’ (2003) study revealed that the primary factors that contribute to retention as well as the managerial behaviors that create loyalty on the part of high-performing employees. These positive factors and behaviors can be placed in four categories: challenging and meaningful work, opportunities to learn and grow, the sense of being part of a group or team, and having a good boss. Of course, there is some overlap between these categories, especially between the first three and having a good boss, as the boss usually has some control over the other three factors.
I also agreed with Mr. Emerson Galfo, conduct an exit interview for you to know the reasons of rapid turnovers and use it as a basis for great improvements.
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Human Capital