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    Deepak S
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    The document provides 10 tips for retaining talent during an economic recession. The tips include looking internally for talent with transferable skills, focusing on career paths to motivate employees, identifying skill gaps, promoting diversity and inclusion, creating detailed communications, measuring outputs rather than time spent, enabling peer support and feedback, offering coaching and mentorship, promoting team building, and giving frequent recognition. Learning technology can help assess skills, provide mentorship, and focus on employee growth.

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    The document provides 10 tips for retaining talent during an economic recession. The tips include looking internally for talent with transferable skills, focusing on career paths to motivate employees, identifying skill gaps, promoting diversity and inclusion, creating detailed communications, measuring outputs rather than time spent, enabling peer support and feedback, offering coaching and mentorship, promoting team building, and giving frequent recognition. Learning technology can help assess skills, provide mentorship, and focus on employee growth.

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    9 views1 page

    Retain Talent

    Uploaded by

    Deepak S
    The document provides 10 tips for retaining talent during an economic recession. The tips include looking internally for talent with transferable skills, focusing on career paths to motivate employees, identifying skill gaps, promoting diversity and inclusion, creating detailed communications, measuring outputs rather than time spent, enabling peer support and feedback, offering coaching and mentorship, promoting team building, and giving frequent recognition. Learning technology can help assess skills, provide mentorship, and focus on employee growth.

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    of 1

    SURVIVAL TIPS

    10 WAYS TO RETAIN TALENT


    DURING A RECESSION
    Downturn. Slump. Recession. No matter what you call
    it, when the economy suffers, business leaders are
    forced to rethink their strategies, cut budgets, and
    reexamine their workforce.
    What does this mean for L&D? More often than not, it
    means do more with less. And while that might seem
    like a dire threat to your company’s positive learning
    culture — and employee engagement — it doesn’t
    have to be.
    Innovative learning leaders are finding ways to keep
    learning relevant and help their organizations retain
    employees despite lean times.

    Here are 10 tips to help you do more with less.

    1
    Look internally for talent. Retention is cheaper than hiring net-new.
    Uncover which employees have the transferable skills your company
    needs to keep all critical roles filled.

    2
    Focus on career paths. Get your people excited for the future, and
    give them a clear direction and content to help them achieve their
    career goals internally.

    3
    Identify employee skill gaps. Help individuals with what areas they
    need to upskill, and give your organization better visibility into the
    skills it needs to build across all teams and departments.

    4
    Pay particular attention to DEIB. Don’t lose sight of your company
    values. It’s especially important to keep and boost initiatives that
    foster inclusivity and belonging. By making sure everyone is still
    heard, you can help retain your culture and people.

    5
    Create a detailed communications plan. Double down on communication
    with all employees, especially messaging that celebrates learning
    opportunities available to your people. When employees feel
    empowered and informed, they’re more likely to stay engaged.

    6
    Measure output — not time spent. Content completions, just like
    learning goals, are important. Even more important is demonstrating
    how your L&D initiatives motivate and support people’s efforts to
    achieve key business objectives. Another important metric is to
    understand how people are progressing.

    7
    Create opportunities for peer support and feedback. When given a
    safe space to connect, people are more likely to feel comfortable
    sharing their real-world experiences, admit their faults and failures
    and practice deep listening with their peers.

    8
    Offer coaching and mentorship opportunities. Empower employees
    to connect with leaders across the organization to overcome career
    roadblocks and grow.

    9
    Promote team building. Further equip managers with strategies
    and activities that help them make their teams more unified, inclusive
    and resilient, which can boost morale and wellbeing.

    10 Give recognition frequently. Increase employee job satisfaction and boost


    workforce morale by celebrating learning and performance achievements.

    We know, it’s all easier said than done, but learning technology is a great place
    to start. You can use it to assess skill gaps, provide mentorship opportunities
    and focus on employee growth. Explore different varieties of learning platforms
    to find out what fits your organization’s needs.

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