Employee retention: New year means new beginnings for many employees
Employers across Australia are being urged to double down on their risk mitigation initiatives to cushion the impact of the so-called "January exodus."
The phenomenon refers to the period early in the year when employees are in search of new roles, likely driven by finances, career growth, among others.
Kathy Pallasis, human resources manager at Frontier Software, advised that risk mitigation efforts have to be year-round to reduce the impact of the phenomenon in the workplace.
This means carrying out regular stay interviews throughout the year, gathering insights into employee concerns and aspirations, and addressing any potential pain points.
"Additionally, recognising and appreciating employee contributions, and building a culture that prioritises work-life balance, can significantly mitigate the allure of external opportunities," Pallasis said in an exclusive feature with HRD.
More importantly, employers also need to acknowledge that resignations are a "business as usual event," but this doesn't mean they can't learn from these departures, according to Pallasis.
"Accepting that you cannot aim to keep every employee all the time, there are things that you can do throughout the year," Pallasis said.
The human resources manager went in detail on how to avoid the January exodus and how employers can turn this into an opportunity for their talent gaps in an exclusive story here.
