“Retaining talent is critical for organisation’s success and the findings from this study reveal some mismatches between employers and employees”, said Na Fu, Associate Professor in Human Resource Management, Trinity Business School.
The survey found that employers believe the most important way to retain talent is pay satisfaction while employees rank work-life balance as the most important, with pay satisfaction taking third place. ‘Interesting work’ ranked second for both.
Recently, a group of researchers have found that having fun at work is another key factor for employees to stay (Michael Tews, John Michel and David Allen, Fun and friends: The impact of workplace fun and constituent attachment on turnover in a hospitality context, Human Relations, 2014, Vol. 67(8) 923–946). “In this Survey, we asked employees about their co-worker socialisation, fun activities organised by their organisations as well as support from their managers. Overall, the fun experienced by an employee with their co-workers, in terms of story sharing, jokes and social activities together, ranked much higher than company organised activities,” Na continued.
Na said that this finding would suggest that organisations need to invest more effort in celebrating significant achievements and milestones and move away from the perception in some organisations that management only care if the targets are met. “When progress is achieved, organisations need to celebrate them as employees need to be cheered by positive outcomes and enhance their sense of belonging,” Na continued.