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Why does a company have to do anything to retain an employee and keep them "happy?"
People are free to leave at anytime. People will leave. An employee's "happiness" is not the responsibility of any company.
It really depends on the industry, how easily it is to replace people with qualified applicants, how much turn over a business is willing to have. Years ago a company in Silicon Valley found that they were having problems keeping people. They had a traditional 9 to 5 set up. It was a bit boring there. Many of the kinds of people that they were trying to retain were younger, 20 somethings. They hired a consultant and found out that if they wanted to retain employees they needed to change the culture.
Here is what they did.
Replaced the 9 to 5 set up with flexible hours.
On site gym, game room, cafeteria, and other amenities. Sports courts on site.
Quiet areas to meditate and think.
Open meeting areas to go over ideas.
Here is what happened:
The older long term employees kept doing what they were doing. Not a problem since they were not the employees that were leaving anyway.
It was found that with the younger employees they did not want to leave and ended up spending more time working. Yes they also had fun at work but the idea was they were on site. Many came in early worked out, had breakfast and got to work. Some days maybe they worked 12 or more hours. Some days they may work less. Either way the company found that the employees were producing more than they had in the past.
People did not want to stop working there. Instead of looking for people, HR kept a list of people that wanted to work there and was able to fill that when needed.
Not a thing. They know if I left today they'd replace me tomorrow. Sure there are benefits but there is nothing that the company does directly for me to retain me specifically or keep me specifically happy.
Once education and credentials are established they offer pay increases, seminar funding, continued trainIng within department . Mine is a hospital setting and periodically they offer fresh white coats 3/4 length. They offer cumulated time off factors each pay day ( a number of hours every two weeks). A administrative working area, state of the art medical equipment, skill level placement , they listen and apply changes that assist in time management,safety, consider 12 hour shifts vs 8 if applicable, offer clinical backup and support. Assign shifts that best fit coverage needs and and adjusting to personal schedule.
There are some companies and fields that require high end talent and will do things to try to keep them around. However, the vast majority of rote type jobs not so much.
Sure. In an economic sense, it's all about scarcity of labor for a particular need. From a pragmatic perspective, it is irrelevant to focus on retention of roles than can be very quickly filled, and trained-up, by a larg(er) pool of applicants. Rocket scientists (figuratively & literally speaking) require Phds (rare and expensive), specific technical talents (rarer still) and domain experience (probably only comes from a few places in the world).
Therefore, I've always been puzzled by allegedly-thoughtful people who do "not" of their own volition train-up on skillsets that are future-oriented based on megatrends, and rare, and then become a published expert. Then migrate to wherever they're hiring people like that. Easier said than done, and predisposes a degree of luck (the "talent" part), but if you're lucky enough to be born on 2nd Base you should be scoring a lot of runs early in the game of life.
I found a McDonald's coupon on my desk today. It was expired but it was the thought
my boss gave me a hooter gift card once, I mean the food sucks but its the thought that counts
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