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Reimagine Retention and Building a Winning Employee Value Proposition for HR Business Partners – Part II
Reimagine Retention and Building a Winning Employee Value Proposition for HR Business Partners - Part II

Reimagine Retention and Building a Winning Employee Value Proposition for HR Business Partners – Part II

The war for talent is a raging inferno in 2024. Fueled by the rapid ascent of automation and a post-pandemic economic shift, competition for skilled professionals has become more intense. Gartner predicts a staggering 50-75% increase in employee turnover compared to pre-pandemic times, further compounded by longer hiring cycles. The pressure on HR leaders to attract and retain top talent has never been greater.

This second part of our series dives deeper into employee retention challenges. It explores the critical role HR Business Partners (HRBPs) can play in fostering a culture of career progression and a humanised workplace experience.

 

From Constrained Careers to Retention Reimagined

Employees leave their jobs with a lack of career development opportunities. Many employees yearn to learn, grow, and explore different career avenues, not just a linear climb up the corporate ladder. Unfortunately, traditional career conversations often focus solely on promotion, leaving employees stagnant and unfulfilled.

 

HRBPs as Strategic Retention Partners

HRBPs can be instrumental in supporting managers in cultivating a retention-focused mindset. This shift requires reframing career conversations. Instead of solely discussing promotion, managers should engage employees in discussions about progression. This involves exploring opportunities for skill development, lateral moves, or cross-functional projects. Creating a culture of experimentation further empowers employees to try out new experiences within the organisation.

 

Metrics that Matter: Rewarding Retention-Focused Management

Traditionally, manager performance has been measured by divisional team performance. However, in today’s environment, the focus must shift to how managers support people’s growth across the business. HRBPs can advocate for metrics that reward managers for enabling internal mobility.  It may include tracking the number of employees who successfully transition to new roles within the company or the frequency and quality of career development discussions conducted by managers.

 

Empowering Employees: A Two-Way Street

A crucial aspect of fostering a retention-focused culture is empowering employees to share feedback on career development opportunities. Providing avenues for employees to express their career aspirations and concerns allows HRBPs and managers to identify areas for improvement. Furthermore, recognising and rewarding managers who actively champion internal mobility creates a positive reinforcement loop, encouraging other managers to adopt a similar approach.

 

Humanising the Workplace: Beyond Transactional Relationships

The days of treating employees as mere cogs in the machine are over. In 2024, HRBPs must champion humanising the workplace experience.

 

This goes beyond simply offering comprehensive well-being programs—it’s about ensuring employees feel valued as individuals. Shifting the vocabulary from “workers” to valued contributors recognises the unique skills and experiences each member brings to the table.

Building Deeper Connections: More Than Just Work

Furthermore, HRBPs can advocate for initiatives that foster deeper connections across the organisation. This could involve fostering stronger family and community connections for employees. By supporting a healthy work-life balance and recognising the importance of these connections, HRBPs can contribute to employee well-being and, ultimately, higher levels of engagement.

 

Action Speaks Louder Than Words: From Purpose Statements to Real Change

Making bold pronouncements about “purpose” is no longer enough. HRBPs must translate such pronouncements into tangible actions addressing real-world societal and cultural demands.  Involve partnering with organisations that align with the company’s values or creating volunteer opportunities that allow employees to contribute to meaningful causes.

 

Freedom and Flexibility: Empowering Employees to Choose

Another critical element of a humanised workplace is empowering employees to choose how they work. This includes offering flexibility in location, work schedule, and collaboration methods. By providing employees with greater autonomy, HRBPs demonstrate trust and respect, leading to increased satisfaction and engagement.

 

Developing the Whole Person: Beyond the Professional

Finally, HRBPs should advocate for a shift in focus from solely developing employees as professionals to developing them as individuals. Involves offering opportunities for personal growth initiatives such as language learning or financial literacy programs.

By championing these critical aspects of humanisation, HRBPs can help create a workplace environment that fosters loyalty, engagement, and a competitive advantage in the war for talent.

By creating a compelling EVP that addresses the needs and aspirations of today’s workforce, HR Business Partners can position their businesses as desired employers, translating to attracting and retaining top talent, fostering a business human capital to thrive, and ultimately contributing to the overall success of the business in 2024 and beyond!

 

Investing in Your Future as an HR Business Partner

Consider exploring our University Micro-credential HRBP Master Class – Enhancing Staff Engagement, Retention, And Value as a launchpad for mastering Human Capital Development.  This program equips you with the foundational knowledge and practical skills to support HR initiatives within your organisation. Contact us now and explore our University micro-credential master class as a pathway to the Executive Master in HRM and the SHRM Double Certificate to learn more and unlock your career growth opportunities with our affordable instalment fee plan and flexible schedule.

Author picture

Dr. Roy is the Group Managing Director & Chief Executive Officer and holds responsibility for the overall strategic management & leadership in achieving the graduate schools’ vision & goals. His own belief for lifelong learning, as well as his drive for business management excellence, has brought him to achieving his passion for being part of the postgraduate education sector in Malaysia.

Dr Roy Prasad

(Hon Professor) FInstAM 

DBA (CH), DBA (DK),
MHRM (MY), Grad Mgt (AU)

Group Managing Director &
Chief Executive Officer

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