Singapore in the 21st century presents itself in a unique position - a workforce that once strived for the 5Cs is now increasingly growing weary of all that money can offer. Through conversations with clients, we are asked, more and more, "What's next?"
It is nothing new to the world of organisational psychology that money is not the sole driver of any one person's work life. In fact, trends across the world have shown that our next generation of workers are looking for far more than just a bigger pay check.
This brings a sigh of relief to some of us who might struggle to allocate resources into the budget for the headcount. For others, this might be perplexing - "even after all that pay raise, why do they still leave?"
The BK Expert Directory's employee retention experts Beverly Kaye and Sharon Jordan-Evans share about the ten things that organisations can offer that are better than a pay raise, and here is a summary of our top three for you:
1. Building a working environment that drives your employees
Defined as exciting, challenging or meaningful work, the authors share about how, although not all jobs might be exciting, organisations may present learning opportunities matched to individual needs. Ultimately, building ownership and knowing what drives them is key.
2. Building a strong leadership team
Supportive management and a good boss is a balance between the needs of the organisation and the needs of the people that drive it. Knowing how to navigate relationships to empower and build your workforce helps retain employees through building a strong team of people.
3. Alignment with your organisation
This falls in not just in retention, but acquisition too. Ever noticed how you, or a friend of yours might have gotten a tech product once, and within a few years, eventually had all of his or her tech goods under the same brand? People are driven by an alignment in identity, drive, mission, value and purpose. Much of this revolves around building an ecosystem around your organisation that allows these values to emerge - through the culture, the work you do, and all the way down to the way relationships are developed.
In this resource shared here, Beverly Kaye and Sharon Jordan-Evans delve deeper into the ten alternatives that they have seen organisation develop to build a stronger, happier team of people. They also share practical tips within each idea for you to begin thinking about how you might be able to shift the needle in your organisation's people management.
Beverly Kaye and Sharon Jordan-Evans are also the authors of the book Love 'Em or Lose 'Em, an award winning book catered to the needs of employee retention.
Flame Centre is an approved organisation to run workshops based on the principles of the ideas found in the book, thorough our Love 'Em or Lose 'Em programme, catered for Managers and HR practitioners in organisations.