How to Retain People?

Why Freshers when they come in within 6-12 months after we train them, they leave?

The Business World Has Seen 3 Generations.

• Industrial Revolution
• Information Revolution
• Digital or Social Revolution

Industrial Revolution - people took jobs just for survival, they only wanted to earn for basic necessities. They went in and worked in a workplace and they didn't leave, even though the work was hard, because opportunities were less. These are the Grandparents of today's workforce.

Information Revolution - Where all IT companies and brands started building, and the workforce came to work not for survival because their parents already took care of survival.

This workforce went to work for the standard of living, basically, get a good enough salary to pay house and car amortization and children's education loan, basically my or your generation.

In this generation loyalty is reduced, the truth is loyalty never existed in the first place, and there's only no option. The information generation has the option. When they got a better quality of the workplace and they got better pay, then people would jump a job.

Digital or Social Revolution - After 2008's recession information revolution died. Today information is available for free. You can learn coding and design on the internet. It's no longer hidden knowledge.

Now, we need to understand that we live in a social or digital revolution, where everything is social and digital, which means today's workforce they don't care about survival, their grandparents took care of that, they don't care of the standard of living their parents took care of that.

Even the labor workers don't care about the standard of living anymore, because even labor workers have a flat-screen TV and air fryer.

So, if we say we will cut their pay, or say we will bind you with a contract, they will say thank you so much. I'm looking for another job.

Today's workforce needs something else, they want quality of life, not standard of life. Standard of life their parents took care of that, today's workforce is thinking about quality of life. In other words, quality of the workplace, quality of job, quality of the environment, flexibility, hybrid or online job setup, quality of role, opportunities, learning, and rewards, all of that. 

Unless we don't have a mechanism for that, we will always grapple with this retention challenge.