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Retention

Fiona Cuming

Editor's message: There has been a lot of debate and speculation about whether large numbers of employees will leave their jobs in the next year in what is called the “Great Resignation”. While we don’t yet know if this will prove to be a myth or a reality, we do know that it will be a tight hiring market because of the labour and skills shortages that are prevalent in many industries. This means that employee retention must be a key priority for your organisation in 2022.

There is no "one-size-fits-all" solution to retaining your employees, but there are a range of initiatives that you can develop to boost staff retention.

Non-financial retention initiatives can include improved line manager skills, training and development opportunities, career progression, developing a positive organisational structure, health and wellbeing initiatives, and offering flexible or hybrid working arrangements.

And financial retention will always be important too. In this competitive market, employees will expect their pay and reward package to be in line with market rates.

Your employees chose to come and work for you for many reasons and you need to make sure that they have good reasons to stay in 2022.

Fiona Cuming, senior employment law editor

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