How Can HR Retain Young Talent in a Competitive Job Market? Seeking Your Strategies

Strategies for Retaining Talent in a Growing Market

Dear HR professionals, I am currently studying HRM for my postgraduate studies and need some expert opinions on the following topic:

Since the market is growing, fresh graduates and young professionals have a wide range of opportunities in front of them. Brimming with talent, they are always on the lookout for something better. This has led to an increased rate of early attrition and job hopping, which is strenuous for HR professionals and the organization as a whole. Please suggest any strategies that may help in retaining talent and addressing these areas.

Regards, Shreya Saini

Job Satisfaction and Talent Recognition

There is a term called "job satisfaction" and "talent recognition." If any company is able to provide these two to their employees, they will never look for other career options because they are in the best place to work. Employees should not work only for their monetary needs; they should also consider themselves as part of the company. This can only be possible if companies engage them in every possible way that aligns with their interests.

We always have some exceptions where you will find applicants changing jobs frequently for baseless reasons, resulting in very short durations of employment. HR professionals can reject such applications at the initial stage to avoid risks because these types of employees can negatively impact others who belong to their group or team.

I believe that if a company is capable of recognizing talents, they can easily retain them by providing some level of satisfaction and exposure from time to time.

Thanks,

Shilpi

Fresher hires or graduates who start their careers with any company will always carry some set of expectations. At the time of the interview, we can gauge those factors of craving for this position. While conducting an interview, we should always ensure there is an alignment between the expectations and the existing exposure of the company and the applicants. Let's not proceed with applicants whose expectations do not meet our current role.

Job Satisfaction and Alignment

Alignment can only satisfy their new job role, which we can call job satisfaction here.

Regards

Attracting and Retaining Talent: A Critical Management Issue

This is a burning issue for the management: how to attract and retain talent. With due respect, based on my knowledge and exposure, using techniques may not be as fruitful as expected because each employee is different and their needs vary. There is a shortage of qualified and trained talent in the market, with demand exceeding supply (there is a supply of manpower, but they don't fit the job role).

Understanding Employee Expectations in the Healthcare Sector

In my past organization, I tried to identify employees' expectations towards their employer, specifically in the healthcare sector. The reasons are as follows:
1. Fair compensation
2. Continuous development opportunities
3. Treated with respect and dignity
4. A safe working environment

I believe that by addressing these issues, we may be able to retain talent. Since each employee differs from the other, a customized approach may lead to success.

The Importance of Communication

Communication is essential and should occur from both sides. Formal and informal communication with employees works well as it fosters unity and bonding. Management should be open and clear in communication, creating an environment where employees feel free to discuss their needs and issues with the employer, which should be addressed promptly.

I may be wrong. Kindly share your experiences as well, as it will help us learn.

Thank you.