Everything we thought we knew about attracting and retaining talent before the pandemic needs a good, hard relook. The so-called ‘Great Resignation’ is all over the news, and from a purely human point of view, it makes a lot of sense.

The COVID-19 virus placed a lot of things into perspective for today’s employees. Many lost parents, friends, colleagues, and loved ones. This type of memento mori leads to questions like ‘I am happy doing what I’m doing, and ‘Am I living my passion.’ Secondly, many employees were disillusioned by their employer’s response to the pandemic and what was expected of them while they sheltered in place.

So, what can innovative companies do to embrace the future of work to attract and retain talent in 2021 and beyond? Here are a few ways to stay ahead of the curve:

Top Tips For Innovative Companies To Attract and Retain Talent

Lean Into Internal Mobility

Start by being open to movement and recruitment within your company. If employees know and understand that there is an opportunity for growth within your organization and beyond their current department, they are far less likely to look for new opportunities elsewhere. Cultivate a culture of internal mobility and take steps to formalize it.

Unlearn The Term ‘Employee Churn’

Accept that not every person you employ will work for your organization forever. In fact, current statistics show that the average tenure for an employee in the US is around four years. Be ready with nimble succession plans, and support your team members when they are ready to move on. A positive take on departing talent and an amicable exit will always stand your business in better stead than the opposite.

Address Company Culture

When people keep leaving despite your best efforts to retain them, there could be an issue with your corporate culture. Use exit interviews as an opportunity to get insights in this regard. Also, consider using pulse surveys and other sentiment-measurement tools to assess how your employees are doing on a regular basis. This way, C-suite will be able to deal with cultural red flags before it causes significant harm. 

Keep Departing Employees In The Loop

Your association with your employees does not have to stop cold when they leave for greener pastures. Establish a corporate alumni community to stay in touch with departing talent. This way, you will have a ready platform to facilitate boomerang hires, talent recommendations, collaboration opportunities, and more.

Track Your eNPS

Every business has a Net Promoter Score (NPS), but you also have an employee Net Promoter Score (eNPS). This speaks to the engagement levels within your organization and should definitely be a major focus for HR practitioners in 2021.

Final Thoughts

To attract and retain talent in 2021 and beyond calls for a fresh new take on what retention actually means. Start by leaning into internal mobility and unlearning the term ’employee churn.’ Address company culture, and keep departing employees in the loop. Also, take care to track your eNPS. Following these guidelines will make all the difference in the way you find (and keep!) top talent.

Get early access to The Alumni Advantage by signing up to the mailing list. Authored by James Sinclair, Co-Founder and Chief Executive of EnterpriseAlumni, the book provides an end-to-end understanding of how organizations recognize and leverage their former employees.