Voluntary Retention

Voluntary Retention is a positive new way of thinking about your people and their relationship with your business.

In talent management and recruitment we often talk about how to reduce staff churn by enhancing remuneration packages and workplace experience. But when we think more deeply about what’s going on there is so much more at play.

Voluntary retention is at the opposite end of the spectrum to voluntary redundancy. In the latter, disillusioned, demotivated and unconvinced talents, vote with their feet and leave the business for pastures new. In some cases this happens because of the settlement on offer and in some cases they will leave without the reassurance of a clear future plan. When this is happening you know something is wrong.

The mindful company will be more focused to the positive end of the spectrum and will be obsessed with the concept of voluntary retention.

As the name implies, voluntary retention is all about your talent perceiving significant value from investing their work time and energies in the business because they themselves feel valued. In other words they voluntarily stay. They stay committed, motivated and engaged.

Mindful companies focus on:

Sustained personal career development paths
Leadership that supports rather than manages
Clearly communicated vision, goals and plans, where everyone knows how they can add value
Culture where short term failure may signify bold innovation and creativity
Remuneration packages that reflect accurately the personal needs of the individual rather than simply adhering to industry norms
Strategic values of the business that align with those of the individual
Openness and honesty

What good practice have you provided or experienced that ensured you or others wouldn’t consider going anywhere else?

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