The 3 Most Updated “Mystic Arts” Of Retaining Talents
June 10, 2022
The new wave of global talent trends has put businesses in the position of carving a new way of retaining talents.
According to the Global Talent Trends 2022 report of Mercer, 76% of executives and HR experts and employees said that the pandemic has forced them to rethink their HR model. However, it has never been easy to find a solution that best fit with the changes of time, and businesses can find insights from 3 suggestions of Ms. Nguyễn Thị Quỳnh Phương – Director of HR Consulting Business.
The demands of workers have changed
Post pandemic, workers have expressed a clear career aspiration as well as explicit demands for personal well-being and sustainable growth path. 33% of employees would forgo a pay raise for additional well-being benefits for themselves or their family, according to Global Talent Trends 2022 report of Mercer.
On the other hand, business leaders agreed that businesses will experience a bigger ROI in the next 2 years with proper investment in well-being benefits for employees. 86% have planned to invest in a diverse benefits administration system.
At the seminar “Shaping Your Business At Any Size” in Hanoi, hosted by Talentnet on May 20th, Ms. Nguyễn Thị Quỳnh Phương – Director of HR Consulting Business stressed on the importance of employees’ mental well-being.
“Businesses seeking for good overall business health should first take care of the well-being of internal human capital as those are the primary target of stress, and pressure of changes. Furthermore, employees are the main force that help businesses execute plans, balance organisation amid uncertainties and catch up with the market trends. For that, it is highly important that businesses focus on upskilling this group” – Ms. Phương shared.
3 “mystic arts” for getting employees to warm up to businesses
In the thickness of a generational transformation of the global dynamic workforce market, Ms. Quỳnh Phương shared 3 benefits that HR department can implement to improve employees’ well-being, and thus, effectively retain talents.
Firstly, businesses can establish a remote medical care program.
Secondly, employees should be empowered to join reskilling and upskilling programs.
Thirdly, pension fund is a particularly compelling benefits to retain talents in the new normal.
Talentnet and Dragon Capital has signed a strategic partnership that introduces voluntary pension fund program to businesses in Vietnam.
“In the new normal, employees demand not only good compensation and stable career, but also tailored policies to their personal needs. The key to attracting and retaining talents lie within the ability of businesses to boldly carve new path, introduce a diverse range of benefits that fit with the new demands of employees” – Ms. Quỳnh Phương concluded.