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Milestone One: Employee Engagement and Retention

Deyanira Diaz

OL 600: Strategic Human Resource Management

Southern New Hampshire University

November 26, 2022

Talent Acquisition

There are different strategies the human resource department can use in talent acquisition but there is no “one size fill all” strategy. There are many factors an organization’s HR will consider before deciding on the best strategy to use. Factors such as the competition for labor, they type of industry, the company’s pay, company size, and employment opportunities must be considered. According to Martin (2021), the organization has to understand the type of employees it requires and the resources available for acquisition to decide the best acquisition strategy. Strategies will be different for each company and the following strategies may work best in selecting and retaining qualified talent;

· Referral programs – this is the best strategy of acquiring qualified talent. The goal of the company is to acquire people who can achieve the performance goals of the company. Social networks and existing employees can propose successful talent who fit the positions in the organization.

· Creating attractive internship programs – it is through internships that an organization can learn about the potential talents that can meet its performance goals. The organization builds relationships with the interns and grooms them to become powerful talents in the organization.

· Creating temporary positions for prospective future roles – in its planning, a company should establish new roles and monitor the talents that can fit in those roles.

· Attending job fairs and job market events – serious employees and powerful talents are always looking for ways of empowering themselves and they attend fairs and events concerning the job market. These are the best paces to access your sought-after talent.

Employee Engagement and Retention

For an organization to retain its employees, it must engage them through activities and plans that match their needs in the organization. Research conducted by Career Builder (2019) indicates that over 50% of the workforce is nor engaged and turnover rates are high in organizations where employees feel disengaged. The strategies HR can use to engage their employees include;

· Providing career development opportunities – when employees are empowered to utilize their full potential, they can see their importance in the workplace and this motivates them. They become more engaged since they know there is a reward in the end.

· Helping employees plan their future – employees have goals and showing commitment to their goals is a key driver to their engagement in the workplace. When employees do not see where they are heading in your company, they are likely to seek better opportunities in other places.

· Tracking short and long-term goals – Rana and Chopra (2019) assert that feedback is essential in keeping employees engaged. Tracking short and long-term goals and informing employees the areas that need improvement keeps them engaged and committed.

· Listening to your employees – employee retention is high in organizations where employees are given a chance o express their views and participate in decision-making. It makes employees feel valued and develop a sense of belonging. This increases the chances of engagement and retention.

Learning and Development

Times have changed and millennials have taken over the workplace. Newton, Becker, and Bell (2014) assert that learning and development are required to increase retention rather than spending money in recruitment processes. The learning and development opportunities HR can utilize include;

· Coaching and mentoring – employees are attracted to workplaces where there are superiors who mentor and guide them on the right steps to take to achieve their goals. Coaching and learning help them acquire skills that are essential to grow their careers. This motivates them and increases their loyalty for the organization.

· Arranging for workshops and working groups – workshops allow employees to interact with their peers from other companies and they acquire knowledge ad skills that aid their personal growth. Employees are attracted to an organization that offers them a chance to explore the workplace and learn about new things.

· On the job development- here an organization ensures employees learn while doing it. This strategy mostly supplements training. After training employees, on the job development is done as a way of engaging employees in practical performance. That makes them conversant with their work and increases their accuracy in performing their duties.

Total Rewards

An organization needs a total reward strategy to attract top talent, achieve employee satisfaction and engagement, retain employees, remain competitive in the industry, and improve productivity and overall performance. The total rewards strategy used by HR must match the needs and goals of the organization. How a company rewards their employees determine how committed they will be to the achievement of goals. It is difficult for organizations that pay poorly to retain top talent. “Total rewards include not just money, time off and stock options, but health plans, retirement programs and less-quantifiable elements such as flexible work arrangements and career training” (Kaplan, 2005). These rewards show employees how much a company values their contribution to the company’s success. Among the rewards strategies that can increase employee retention include;

· Appropriate compensation – this is the reward for their work. It ensures employees can meet all their basic needs and also makes them feel the appreciated.

· Additional benefits – these include programs that ensure employee physical and emotional safety. They may include health coverage plans and holiday leaves.

· Wellbeing programs – these are programs that promote the holistic wellbeing of employees for a satisfied, healthy, and motivated life. They Include; employee assistance programs, resource groups, diversity and equity programs, remote working, company sponsored events, and volunteer work.

References

Career Builder (2019). Survey from CareerBuilder Reveals Half of Employees Feel They Have "Just a Job" Amid Heightened Career Expectations. Press Release. Retrieved from

Kaplan, S. (2005). Total rewards in action: Developing a total rewards strategy. Benefits & Compensation Digest, 42(8), 32-37.

Martin, J. (2021). It’s time to change how we think about our employees. Strategic HR Review, 20(2), 55-59.

Newton, C., Becker, K., & Bell, S. (2014). Learning and development opportunities as a tool for the retention of volunteers: A motivational perspective. Human Resource Management Journal, 24(4), 514-530.

Rana, S., & Chopra, P. (2019). Developing and sustaining employee engagement: the strategic perspective in telecom company. In Management Techniques for Employee Engagement in Contemporary Organizations (pp. 142-164). IGI Global.