retention strategy ∙ job grading ∙ salary grading ∙ pay parities ∙ job analysis ∙ job evaluation ∙ CTC + flexible benefits ∙ Benefits Management ∙ total rewards ∙ wellness initiatives ∙ reward & recognition ∙ EVP design and implementation
For the first time in history there are 4 generations working in the corporate world. What organisations did 30+ years ago to retain their staff is not relevant today. The average millennial has a lifespan of 2-5 years with your organisation and they want different things. Organisations need to shift quickly and adapt to the multi-generational workforce whilst keeping a stern eye on the future.
What companies and managers do not do well is acknowledge and effective reward and recognize people fairly. Which is mind-blowing because it’s actually really easy to do, if you have done your homework. It just doesn’t make business sense to invest heavily in hiring, engaging and developing your talent, without closing the loop with a flexible talent retention strategy.
culp’s talent retention services look at the concept of “the total rewards package” and EVP. We assess your current retention strategy and employer “people deal”, analyse your current compensation package to ensure fairness and personalisation; assess and recommend your benefits offering and wellness initiatives and design a reward and recognition framework that matures as the business and leadership drive retention in the culture.
Ultimately, a mature and operational retention strategy empowers managers, motivates employees, energizes “living the values”, helps create psychological safety and fairness, develops trust in leadership and encourages performance.
*please note culp is not a tax or financial advisor