(Solution) (AC3.2) Compare different approaches to retaining people

Also, to varying degrees, each method aspires to provide elucidation, agency, and satisfaction of various demands. Preliminary explanations set reasonable expectations, inductions provide orientation, work enrichment gives purpose and independence, and money or ego demands are satisfied by rewards.

Other commonalities include communication and socialisation. Methods include informing workers of important developments, assisting them in becoming acclimated to company culture, and demonstrating the relationship between employees’ efforts and the company’s success. This fosters a deeper sense of belonging to the organisation’s objectives.

The retention tactics are based on the idea of enhancing the quality of work-life experiences and relationships. Establishing conditions where employees desire to remain loyal, devoted, and fully active members of the firm for the long-term can be achieved by several means, such as managing expectations, providing onboarding support, assigning demanding jobs, and validating their work.

Realistic previews and inductions probably don’t necessitate as much funding as job enrichment and incentives. Informing recruits and onboarding is relatively inexpensive compared to enriching jobs and compensation, which need substantial expenditure.

Result for the worker:
Job enrichment encourages engagement, realistic previews moderate demands, inductions ease adjustment, and rewards meet demands. As a result, the experience and benefit that an individual derives from each method is slightly different.

Administration duration:
Onboarding usually takes no more than a month to complete, and realistic previews and inductions take no more than a week to execute (Investors in People, 2019). Because they necessitate more substantial organisational changes and continuous support throughout the employee lifetime, enhancing roles and developing new compensation systems take more time.