101, Rethinking the age old retention problem and how organisations can finally solve it with clarity

Now from a solutioning standpoint, The concept of retaining people actually hasn't changed from the time that we have had this problem Okay, and as far as I can see the concept of retaining people will not change even in future however, the key thing that is changing is the definition of those concepts and So let us try and understand what do I mean by when I use the word definitions of concept.

So one of the things we said that people were looking at or we would offer as a benefit to an employee was job security.

Now job security historically meant that a person would join an organization as a young graduate and they would expect that by the time they retire they have the ability to stay in their job irrespective of whatever be the growth cycle they stay in the job and they get the money.

So which then started being called as long term career commitment, you know, hire to retire, various other names came.

So if an organization could therefore go and offer job security, we had the ability to be able to retain people.

Times changed.

So what is a similar definition to this? Now, what is it that we mean by job security or what is it that we mean by job stability? The point is, it's no longer referred to as security.

It is referred to as stability.

Historically also, when we said job security, we in reality meant job stability.

That means I should have a foresight that I am going to be going to a particular job and I'm going to get a particular benefit for a decent amount of time.

In today's scenario, this job stability is a time horizon of about two to three years.

It is a time horizon of a similar skill set that I have being allowed to use and grow in those similar skill sets for the next two to three years.

That is what is the change in definition.

Similarly, we meant a definition called loyalty.

Historically, loyalty meant that no matter what happens, I am going to be loyal to the organization, which means if I were to get offers from another organization, I would share it with my supervisor.

If I would get an offer which was very, very exciting, I would discuss it with my manager and then communicate to the outside organization.

Similarly, loyalty also meant that I would be willing to make a lot of sacrifices on my career.

Now, whether those sacrifices meant salary, whether they meant promotion, whether they meant relocation or whether they meant career growth, they meant a lot of things.

But as times changed, the definition of loyalty has changed.

What is the definition of loyalty that has changed? The definition now means that the loyalty is towards my own growth.

So the concept has not changed.

loyalty but the definition has changed which means now what we are trying to say is as an organization if you can offer an individual the ability to be loyal to their resume which means whatever skills they have if they continue to get those skills you know flourish in those skills build a resume, then you've got an individual saying, yes, this organization helps me grow my value.

So I would rather be loyal to them than to go to an organization which is not going to help me build my skills.

As a result of this kind of a definition, you have systems which are retention, hypertension programs and various other systems and processes.

so practically let us you know try and understand what are some of the key aspects which retain people and we can then try and understand the definitions by talking to your practitioners one of the key reasons why people stay in an organization is how they continue to grow and what is growth you know i join at a particular level i move up the level in terms of designations in terms of the sphere of influence The other understanding of growth is I join with a particular skill set and how do I grow in terms of enhancing the skill set, adding on new skill sets and understanding more than what I used to understand or having knowledge of more than what I used to have.