Dive Brief:
- DuPont de Nemours is a leader in employee retention among Fortune 100 companies, according to Workforce Logiq rankings released Jan. 28.
- Rounding out the top five were Honeywell International, Lockheed Martin, Delta Air Lines and Merck & Co. Employers' workforce volatility was estimated using data and AI analysis of job postings, job tenure, leadership shifts and more, Workforce Logiq said.
- It crucial for employers to focus on retention in this "hypercompetitive labor market," the group said. In addition to helping employers avoid replacement costs, "[s]trong levels of employee retention are also associated with higher engagement, satisfaction, productivity, and profitability," said Jim Burke, CEO of Workforce Logiq.
Dive Insight:
As HR becomes a more strategic business function, practitioners may be tasked with reducing turnover, especially among top performers.
Pay and benefits remain important to employee satisfaction. In fact, flexible work schedules are so much in demand that they've become the new norm for many workers, recent research from the Boston Consulting Group (BCG) revealed, leading it to call the benefit a "business imperative." Similarly, career development has emerged as a sought-after perk, making such offerings an effective retention tool.
But HR must think beyond traditional employee value propositions, experts say. Specifically, employees need to derive meaning from their work, and HR can help. When employees can see how they're advancing an organization's goals, they're more satisfied with their jobs.
Employees want to "come to work every day, leverage their strengths, do what they're passionate about, feel like they're committed to the greater good of the organization [and] at the same time, be able to have the flexibility, to have fluidity between their work and personal lives and to feel included," Lisa Sterling, Ceridian chief people and culture officer, previously told HR Dive — and HR can make sure that happens.
