Employee retention is addressed every day in conversations, articles, postings, etc. Why is this topic of such importance? Companies spend thousands of dollars and countless hours recruiting candidates, on-boarding employees and training them with the ultimate goal of retaining them. And yet, article after article states that people, especially millennials, will only stay in a job for 3 years. That’s usually the amount of time a company feels is needed to recoup their investment in a hire. It’s a frustrating cycle for everyone. Now, full disclosure, recruiters need people to move jobs but more importantly, we want them to be employed, working towards solid career goals with clear motivators set forth in their path.
How can the two parties meet in the middle? How does anything meet in the middle? Think of a scale – the middle is where the balance is. That is just what is needed to retain employees. Employees need the ability to escape from the onslaught and pressure of work, countless emails, phone calls, meetings, and deadlines. Most of the regulatory people we work with, clients and candidates, all deal with deadlines and the pressure is intense. For example, the FDA estimates it takes 3.42 million hours of regulatory time just to submit NDAs! And the number of meetings with regulatory agencies doubles during Phase 3! These demands build just like a pressure cooker and people need to let it escape in order to be more productive.
Think of the last time you took a day off and just “played” – read a book, went to the beach, shopped, volunteered, had a long lunch with a good friend, anything but work! Although you may have extra work to make up, the world did not fall apart in your day away. And if you are as lucky as I am, you have co-workers who help pick up the slack. What does everyone get in return? They may acquire a fresh perspective, a sense of rejuvenation, and an ability to bounce back quicker from daily challenges. If this is maintained, what one gains is an employee who feels valued, appreciated and most importantly, humanized. This is what retention is all about – keeping people happy, in balance and refreshed. We are all better people when we do this.