This highlight video is from the May 16th 2024 Skills-First Milwaukee Talent Development Conference @ GE HealthCare, session Scaling Success: Mastering Retention Strategies.
This session provided valuable insights into effective retention strategies that are essential for today's workforce. The discussion highlighted the critical elements of psychological safety, trust, and recognition in fostering a supportive and engaging work environment. Here are three key takeaways from the session:
- Importance of Psychological Safety and Trust: Building a culture of psychological safety and trust is foundational for enhancing employee wellbeing and retention. Organizations should actively work on making employees feel cared for and trusted. As Erin aptly stated:
"Cohort learning is a flexible, group-based experience that emphasizes social interaction and practical application." -- Erin Doyle
This underscores the significant impact of trust on employees' sense of purpose and connection to their work.
- Value of Recognition and Feedback: Simple, cost-effective recognition programs and robust feedback systems can significantly improve employee morale and engagement. Regular check-ins and stay conversations are essential for understanding and addressing employee needs. Larry emphasized this point by saying:
"Recognition is a big thing and it's free; it just takes a little bit of time and structure." -- Larry Mohl
This highlights how small efforts in recognizing employees' contributions can have a substantial positive impact.
- Balancing Work and Personal Growth: Organizations should focus on providing opportunities for both career advancement and lateral moves. Recognizing the individual needs and motivations of employees, and offering tailored development paths, can foster a more engaged and loyal workforce. It's crucial to understand that employees value not only promotions but also meaningful work and personal growth opportunities.
By implementing these strategies, organizations can create a work environment that not only retains top talent but also drives engagement and productivity.
