Retention is Overrated

by | Apr 4, 2024 | Human Resource Management | 0 comments

Retention is over rated.
So, you lost 7 staff in 7 months, yet your best productivity is from a freelancer? Experience from a friend’s small business.

My take.

Why on earth will you want to retain someone, who does not want to be retained?‍♀️

Who clearly misaligns with your core values🤥.

Who shows no agreement with your organisation’s vision?

Who does not create sustainable value?

Without a decent performance management system, retention hides inefficiency. If only a few ever leave your system, ponder on the productivity and value of those who stay?

You need clear organisational goals to evaluate if retention matters or not, if staff turnover is negative or a blessing in disguise?

Keep a lean core team if need be, but do not be too ruffled by the revolving door of joiners and leavers.

The layoffs are set to continue. The resignations will not stop anytime soon, but it does not spell gloom or doom.

Far from it.

A new landscape needs new models. The old model is simply giving way.

Rethink business models. Rethink talent.

The future of the job market is the skills market.

How should you fill your talent needs? Should you still Buy? Or Borrow, Build or Bot? Or mix it up?

Should you buy the cheap and available, or borrow the better and best for a few hours?

Employers should focus on skills and tie work to skills and project teams.

Workers should take charge of their careers, investing in their training & development, honing their skills, with laser focus on professionalism.

It’s a win-win for all.

No more excess baggage of people faffing around at employer’s cost.

No more bored staff, clocking time, coasting till they figure out what next.

No more exhausted middle managers.

No more poorly paid staff.
People with skills will be distinguished, offering their services at market rates.

Premium skills will be rewarded with premium compensation.

Happier and more fulfilled workers, responsible for their output, working independently and being paid for value creation.💰

What’s there not to like about this model?

How will inexperienced people enter the workforce or a pipeline be maintained? Oh, that’s easy.

Learners will learn where they should; at school👩‍🎓👨‍🎓 or at programmes where it is clear they are learning and can be adequately supported. This is what academies, internships, management traineeships & apprenticeships are for.

Employers that require pipelines will look to academies and apprenticeships to meet their needs. Everyone else, should focus on the skills market.

‘I am a fast learner’ crew will be advised to enter a training contract or join a tailored training programme to close their skills gap.

Many will eventually work for themselves. Some will love it, many may not initially, but it is inevitable.

It is only a matter of time, we will all be entrepreneurs, trading at the skills marketplace. Solving real-world problems.

Retention is over rated. Think skills.

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