Phillips Consulting provides insights to boost employee retention rates, inclusivity

Phillips Consulting Limited (pcl.) in its new report titled ‘Talent Management, A New World Order: Shifting Paradigms’, has charged organisations on reimagining talent experience and retention to reconsider employee engagement at the HR Directors Network (HRDN) quarterly Meetup.

The leading consulting firm made this disclosure at the highly anticipated 2023 edition of the HRDN Quarterly Meetup. The event centred on the critical theme of Reimagining Talent Experience and Retention and it featured top executives engaging in insightful discussions and presenting innovative solutions to navigate Nigeria's fiercely competitive war for talent.

At the event, the speakers delivered valuable insights on how companies can enhance their talent experience, boost employee retention rates, and foster a culture of inclusivity. With the ever-increasing challenges of talent migration, employee expectations, remote work, and skill gaps, companies must approach these issues with creativity and innovation.

In line with the theme of the event, pcl. released a comprehensive report titled 'Talent Management, A New World Order: Shifting Paradigms'. With a focus on the brain drain, this report is the outcome of extensive research and data analysis conducted by pcl., with data inputs from their partners, Cambridge University (UK) and YouGov. The report aims to equip organisations with the necessary tools to reimagine talent management and enhance employee and stakeholder outcomes.

This comprehensive report delves into the root causes of the exodus of skilled professionals from Nigeria and its adverse impact on the public and private sectors. Moreover, the report proposes pragmatic suggestions and remedies to tackle this pressing concern.

During his closing statements, Rob Taiwo, the Managing Director of pcl. emphasized that "Talent goes where talent wants, and employees have the freedom to choose where they work". He further stated, "In an employee market, companies must offer attractive value propositions that meet the needs of their employees, such as improved compensation, remote work options, and psychologically safe work environments. If companies fail to prioritise employee well-being and job satisfaction, they risk losing top talent to organisations that do."

Olawanle Morenikeji, Operations strategist pcl. talent management actions said that new actions in managing talents must speak to dynamism, the promotion of belongingness, inclusion, empathy, guts, constant and consistent communication and motivation. Any conceptualization that falls short of actions on the above is destined for failure in the new world of work”

Paul Ayim, Partner for People Transformation, pcl. stated that "Creating an environment where your employees can learn, understand the purpose, collaborate, and are empowered leads to a positive experience and high engagement. Digital Learning has over the years served as a platform for democratizing the knowledge required to turbocharge performance and embed consistent culture, and organisations that reimagine and refocus their talent experience in this way will outcompete peers in their industry."

The HRDN Meetup hosted by pcl. was a great success and provided valuable insights into the key imperatives to stem brain drain in the industry 4.0 era.