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IPASJ International Journal of Management (IIJM)

Web Site: http://www.ipasj.org/IIJM/IIJM.htm


Email: editoriijm@ipasj.org
ISSN 2321-645X

A Publisher for Research Motivation........

Volume 4, Issue 1, January 2016

Talent Retention Model and its significance in


the VUCA Environment
Jasleen Kaur
B Com (Delhi University), MBA (HR), UGC NET Qualified

ABSTRACT
Organizations are facing cut throat competition in the VUCA (volatile, uncertain, complex, and ambiguous) World. This is
projected to get even tougher. It is now crucial for the businesses to attract and retain the right employees. HR professionals
have to develop intellectual business acumen to understand about such market dynamics and create their practices accordingly.
They continuously need to reinvent such practices in order to meet the demands of the new generation. They cannot adopt one
size fits all approach and thus, needs to understand the generational differences. The proper planned and strong effective
talent management is important in this kind of changing business. The established companies also, have to remain concerned
about the sustainability of their employer brand. This is because of the emergence of startups, which are adopting innovative
steps to make sure their employees remain engaged and happy. The present paper is an attempt to analyze the innovative HR
practices implemented in the organizations to retain the employees. This report also discusses the ways and steps to be taken for
effective talent retention in the current scenario of changing business.

Keywords: VUCA, employee retention, engagement, HR practices.

1.INTRODUCTION
The dynamics of the business world is being influenced by the rapid innovation, advanced technology, liberalization
and globalization. Many organizations and managers are struggling to stay afloat and aligned in the VUCA nature of
todays global business environment (Kinsinger) [1].
The VUCA Environment includes:
VolatilityThe nature, speed, volume, magnitude, and dynamics of change
UncertaintyThe lack of predictability of issues and events
ComplexityThe confounding of issues and the chaos that surrounds any organization
AmbiguityThe haziness of reality and the mixed meanings of conditions
These competitive conditions make it more difficult for the employers to acquire and retain the experienced and
productive talent. The growing awareness of finding, motivating, developing and keeping employees is a key
component of business success, has raised expectations for the human resource departments (Gross and Nalbantian,
2002) [2]. They have to manage the talent in such a way that retention level gets maintained in the organization.

2.OBJECTIVES OF THE STUDY


To analyze the various factors that would affect the retention level of an organization in the VUCA World.
To highlight the innovative HR retention practices being undertaken by the companies.

3.Methodology
The study is descriptive in nature and only secondary data has been used in it. The secondary data consist of the books,
internet articles, surveys and research journals.

4.Discussion
What is Talent Management?
Talent Management is an integrated set of processes, programs and cultural norms in an organization designed and
implemented to attract, develop, deploy and retain talent to achieve strategic objectives and meet future business needs
(Silzer and Dowell, 2009) [3]. This includes recruitment, retention, leadership and high potential development,
performance management, workforce planning and culture and other HR initiatives to manage and nurture talent.

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IPASJ International Journal of Management (IIJM)


A Publisher for Research Motivation........

Volume 4, Issue 1, January 2016

Web Site: http://www.ipasj.org/IIJM/IIJM.htm


Email: editoriijm@ipasj.org
ISSN 2321-645X

Talent Management Process


In this process, employee retention is the top priority for the companies to win the war of talent. This refers to the
ability of an organization to retain its employees. The main purpose of retention is to prevent the loss of competent
employees from the organization as this could have adverse effect on productivity and service delivery. However,
retention of high performing employees has become more challenging for managers as this category of employees
frequently move from one job to another as they are being attracted by more than one organization at a time (Samuel
and Chipunza,2009) [4] . This is based on the strategies providing employees a conducive environment, job security,
flexible work design and improved commitment (Muncherji and Dhar, 2009) [5]. Employers have a need to keep the
right talent from leaving and going to work for other employers. The phenomenon of the employees leaving the
company is known as Attrition. Attrition signifies not only the loss of talent but also includes the cost of training new
recruits (Bezborah and Mahanta, 2013) [6]. The attrition costs are generally underestimated by the employers (Dr T.V
Rao, 2011) [7]. They are classified as mentioned in the chart:

Classification of Attrition Costs


The executive search firm Executive Access India has conducted a study in 2015, indicates that a minority of 12% have
served tenures in a single role exceeding ten years. Just about a decade back, the statistic around people who held their
tenures for more than ten years was double this number [8]. It is alarming that the number of people delivering shorter
tenures in an organization is as high as 88%. There is scope for this 12% to come down further as the younger
generation gets into senior roles. Their DNA is different. For the older generation, there was a loyalty factor with the
organization. The younger generation does not believe in loyalty and give higher importance to self. As emotional
bonds with an organization weaken, companies will have to brace for more challenges going forward.
Reasons for which employees seek employment outside their organizations
The Employee job satisfaction and engagement survey by Society for Human Resource Management (SHRM) indicates
the below mentioned reasons for which employees seek employment outside their organizations. The sample size was
265. Percentages may not total 100% due to multiple responses [9].

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IPASJ International Journal of Management (IIJM)


A Publisher for Research Motivation........

Volume 4, Issue 1, January 2016

Web Site: http://www.ipasj.org/IIJM/IIJM.htm


Email: editoriijm@ipasj.org
ISSN 2321-645X

Source: Employee Job Satisfaction and Engagement (SHRM, 2015)


The organizations should consider the below mentioned strategies to achieve the desired retention level in
the competitive environment:
1.Importance of Analytics in Employee Retention
Analytics refers to the software and methods that organization use to understand data [10]. The use of Analytics has
evolved at different speeds in different functional departments. HR has traditionally been an area run more by gut
feeling than data. In recent years, economic necessity has pushed HR to embark on a journey to become more analytical
and strategic (Tracey Smith, 2013) [11]. Intelligent data captured through digital analytics in recruitment, attrition,
succession planning, productivity enhancement, unit cost, revenue per employee and profit per employee help influence
the performance of business as well as to take appropriate decisions on finding early and suitable solutions to people
issues and challenges. This use of digital tools and analytics help HR professionals and line managers to understand the
WINs (wants, interests and needs) of each individual that impact the engagement level and ultimately the retention
level of the organization.
According to the TimesJobs.com study, 56 per cent organizations think that an effective data analytics practice helps
secure quality hires. Nearly 22 per cent in HR think use of data also helps improve the recruitment turnaround time.
[12]
2.Careful Recruitment and Selection:Hire who fits
Recruitment is the process of searching for and obtaining applicants for jobs, from among whom the right people can`
be selected (Ashwathappa, 2005) [13]. Selection consists of the processes involved in choosing from applicants a
suitable candidate to fill a post. During this hiring process, the organizations have an opportunity to make a huge
difference in retention rates. If they start off by hiring the right people, they are bound to see those people stay for a
longer period of time. Highly skilled and positive people are ideal candidates. Anything less can contribute to them
leaving the company earlier than they would like them to leave.
According to the knowledge initiative by timesjobs.com, the Experts reiterated that with changing times, recruitment as
a process is becoming social, the best talent is coming through internal employee referrals and this kind of talent is
more loyal to the organization [14]. This ensures better talent and retention rate is higher. In this way, the
organizations should constantly apply and use analytics to find out what kind of people they need for the team and
ultimately for the organization itself.
3.Employee Engagement: Best way to Retain Talent
Employee engagement is the emotional commitment the employee has to the organization and its goals. This emotional
commitment means engaged employees actually care about their work and their company. They dont work just for a
paycheck, or just for the next promotion, but work on behalf of the organizations goals (Kevin Kruse, 2012)
[15].When the employees carewhen they are engagedthey use discretionary effort. This means the engaged
computer programmer works overtime when needed, without being asked or the engaged retail clerk picks up the trash
on the store floor, even if the boss isnt watching. They are the performers who contribute, perform and take a keen
interest in doing their best in the organization (Wilkinson, 2013) [16]. This also leads to lesser absenteeism and
attrition.
According to a study by TimesJobs.com conducted in 2015, nearly 26 per cent employers believe their workforce is
highly engaged, remaining are still struggling with talent engagement issues [17]. The organizations must take

Volume 4, Issue 1, January 2016

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IPASJ International Journal of Management (IIJM)


A Publisher for Research Motivation........

Volume 4, Issue 1, January 2016

Web Site: http://www.ipasj.org/IIJM/IIJM.htm


Email: editoriijm@ipasj.org
ISSN 2321-645X

initiatives to make their employees engaged. Many organizations have taken efforts to make their employees engaged
and connected with them. These initiatives include town halls, stay interviews, regular chat sessions, call center system
for employees, timely workshops to help employees develop life skills, etc. These efforts also would help to know about
the expectations and wants of employees.
According to Employee Engagement landscape study (global) conducted by PWC in 2015, high performing
organizations and those conduct regular engagement surveys (and take action on them) reveal significantly higher
performance on a number of measures than do other organizations [18].
3.1Gamified and Innovative HR functions: Gamification is the process of applying game design theories to everyday
situations, including business (Simpson and Jenkins, 2015) [19]. Many established national as well as international
brands are adopting techniques to create interesting games as a part of their HR processes to engage their talent. These
games are part of their recruitment, selection, induction, orientation, training and other HR related functions. This
helps in retention of employees through the encouragement of engagement in activity that the employee considers to be
meaningful (at least at that particular time) business. Some companies are having their own games to understand about
the companys culture and their industry. They are making employees aware about the processes with the help of games
and E learning modules. Example: Infosys, Deloitte, Pepsi co, Godrej, Mahindra and Mahindra, Loreal, Godrej, Make
My Trip, Marriot, etc.
4.Continuous feedback on performance: An imperative need
Performance Management is a process which contributes to the effective management of individuals and teams in
order to achieve high levels of organizational performance. As such, it establishes shared understanding about what is
to be achieved and an approach to leading and developing people which will ensure that it is achieved (Armstrong and
Baron, 1998) [20]. Performance appraisal is a developmental tool which is used for all round development of an
individual. It is the assessment of performance on an individual in a systematic way. It helps identify ways to improve
ones job performance thus benefiting organization and society as a whole. These appraisals are a yearly affair for most
HR managers and employees in India Inc. However, the trend is changing with appraisals or performance reviews
becoming continuous with feedback at frequent intervals [21]. Usually, companies see a spate of resignations after the
annual performance reviews. They might lose good performers if the employees do not come to know about their
performance on a continuous basis. This is the era of instant results and instant gratification.
Companies like KPMG, Adobe, Microsoft, GE, Cisco, Accenture, Whirlpool Corporation, HCL Technologies and
Mphasis have made changes to their appraisal mechanisms to make it in line with the demands and expectations of the
modern-day workforce. Many other companies are going to adopt more continuous feedback driven performance
management system in order to meet the changing needs of the VUCA environment. Regular feedback sessions is the
need of the hour wherein assessing the creative mind on the basis of numbers is not possible.

5. Compensation and Attractive Benefits


Compensation (also known as Total Rewards) can be defined as all of the rewards earned by employees in return for
their labour [22]. When setting pay rates, compensation managers must take into consideration the employees'
perception of fair, equitable compensation. They should maintain the internal and external equity in order to maintain
the morale of the employees. External equity exists when an employer pays a wage rate commensurate with the wages
prevailing in external labor markets and Internal equity exists when an employer pays wages commensurate with the
relative internal value of each job (Romanoff, Boehm and Benson, 1986) [23]. To foster a sense of both internal and
external equity, the best an employer can do is follow sound compensation design practices and strive to build an
environment of mutual trust (Reyes, 2014) [24]. In the absence of such equity, the employees do not apply for internal
job vacancies and other such opportunities. They even lose their commitment and ultimately would look for better
opportunities outside the organization.
5.1Innovative Incentive schemes: Facing attrition woes, companies, including startups, have come up with innovative
incentive schemes to attract and retain talent. From regular supply of grocery in these times of escalating prices of
pulses to employee referral points that can be redeemed as discounts on hotel stays, travel, restaurants and other
purchases, organizations are thinking out-of-the-box to keep the workforce happy [25]. They have even started adopting
attractive maternity policies for the women employees. So that, they can stay with the companies for a longer time and
can manage their professional and personal lives accordingly. Many top companies like RMSI, Google, Godrej,
American Express, etc which are awarded with Great Place to work, offer innumerous benefits to their employees.
These companies aim to provide such kind of benefits that employees dont feel like leaving them and going to the
other companies. They have paternal benefits, child care allowance, adoption allowance, flexi time policy and many
other benefits to retain talent.
5.2Employee Stock Option Plans as part of Retention strategy: Companies often reward their employees with their
stock in the form of employee stock option plans (Esops). Esops are stock options granted to employees over a vesting

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IPASJ International Journal of Management (IIJM)


A Publisher for Research Motivation........

Volume 4, Issue 1, January 2016

Web Site: http://www.ipasj.org/IIJM/IIJM.htm


Email: editoriijm@ipasj.org
ISSN 2321-645X

period, where the employee is given the right to purchase the companys shares at a predetermined price or the exercise
price [26]. If the employee does not exercise the option within a time prescribed by the company, the option
automatically expires. This plan typically includes a vesting schedule that encourages employee retention (Ripperger,
2013) [27]. Employees see the link between their efforts and their personal financial well-being. E commerce firms like
Flipkart, Snapdeal, ibibo Group, Pepper fry, Urban Ladder, etc have been using it as a retention tool as well as a bait to
attract talent [28].

6.Transparent and prospective career growth


Businesses risk in losing their top employees if they dont do a good job of helping them see where their careers are
heading. Employers need to understand the importance of providing career advancement opportunities to the
employees. This would help them in attracting and retaining talent (Brooks, 2014) [29]. Most workers would stay with
current employers longer if the workers had a clear vision of their career path. This will allow the employees to have a
better long-term vision of their evolving role inside the company. It will also allow the company to show its
commitment to developing its talent, which benefits both the company and the employee. If the employees have gaps in
their skills or experiences, a career development plan (created by the manager, the employee, and HR working together)
lets the employee realize that the company wants to close that gap and prepare the employee for the next step (Leddy,
2014) [30]. Companies adopt various techniques like international assignments, projects, other career opportunities
within an organization. This would make employees to stick to the current organization.

7.Effective Training and Leadership development programs


Training and development programs can also lead to increased employee retention. Employees want to feel that the job
they do is important to the success of the business and that the business is investing time and money in them to have
the job done correctly, and at the highest level. By investing the appropriate training in an employee, they will develop
a greater sense of self-worth as they become more valuable to the company. The company, too, will gain specific
benefits from training and developing its workers, including increased productivity, reduced employee turnover, and
decreased need for constant supervision (Lipham,2013) [31].
On-the-job training, job assignments, coaching, and mentoring will still have a place in the training and development
of employees, but to develop VUCA leaders, HR and talent development professionals must focus on programs that
help develop agility, adaptability, innovation, collaboration, communication, openness to change, and other, higherorder critical thinking skills. And they need to deliver those programs faster (via social media and other technology) to
keep up with the pace of change (Lawrence, pg 8, 2013) [32]. Currently, many companies have leadership development
programs through which they identify the potential of agile employees and then they give the opportunities accordingly.
Example: Pepsi Co has a shadow programme through which the top performers get the opportunity to be with the Chief
executives for some time. The emphasis is on building an organization with a strong second line of leadership. These
kinds of initiatives will ultimately lead to improved motivation among the employees.
7.1Reverse mentoring to motivate the young employees: Reverse mentoring is an innovative way to encourage
learning and facilitate cross-generational relationships. It involves the pairing of a younger, junior employee acting as
mentor to share expertise with an older, senior colleague as mentee. The purpose is knowledge sharing, with the
mentee focused on learning from the mentors updated subject or technological expertise and generational perspective.
In addition, there is an emphasis on the leadership development of the mentors (Murphy, pg.1, 2012) [33]. Many big
organizations are having this kind of strategy at their workplaces. Example: Hewlett-Packard, Cisco systems, Citibank,
Philips, etc. This retention strategy provides an opportunity for newer employees to be stimulated and challenged in a
meaningful way that expands their network and benefits their career.

8.Open and rewarding organization culture


Organizational culture is a shared set of beliefs and values, reinforced by an organization's symbols and structure, and
manifested in the way people think and act. This is increasingly being touted as an important selling feature as
companies attempt to attract and retain the valued employees. Employers are being advised to evaluate their cultures
and, where necessary, change them to increase their attractiveness to employees (Meyer and Topolnytsky, pg 9.10,
2000) [34].
The global human capital trends report of 2015 by Deloitte has stated that the employees are now always onhyper
connected to their jobs through pervasive mobile technology. Networking tools like LinkedIn, Facebook, and Glassdoor
enable people to easily monitor the market for new job opportunities. Details about an organizations culture are
available at the tap of a screen, providing insights about companies to employees and potential employees alike [35].
To survive in such kind of competitive scenario, the organizations must do more than hire and develop agile leaders;
they must create an open and rewarding organizational culture. HR can play an integral role in developing a VUCA

Volume 4, Issue 1, January 2016

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IPASJ International Journal of Management (IIJM)


A Publisher for Research Motivation........

Volume 4, Issue 1, January 2016

Web Site: http://www.ipasj.org/IIJM/IIJM.htm


Email: editoriijm@ipasj.org
ISSN 2321-645X

culture by rewarding innovation, agile behavior, and calculated risk-taking. Rewards and recognitions for desired
behaviors could include different incentives including job perks, additional compensation, promotions, and preferred
work assignments. This would provide motivation to the employees to perform better. The organizational culture that
promotes and rewards agile leaders will begin to perpetuate itself and attract and retain the type of innovative and agile
talent that businesses today are seeking. It will also provide businesses a competitive advantage in our ever-changing
global marketplacewhich is the ultimate VUCA environment (Lawrence, pg 11, 2013) [32].
HR also needs to build a culture where mistakes are allowed and employees are encouraged to invent with liberty. The
companies have even adopted initiatives to create that kind of culture in which the employees would feel comfortable.
For example: Recently, in India, after Infosys shed its formal dress code to let Infoscions embrace smart casuals, FMCG
major Hindustan Unilever (HUL), known to have had a strict dress regime at one time, has followed suit with a policy
change that allows its employees to go casual at work. For Infosys, however, the policy change on dressing was
important to create a culture that would attract and retain talent, especially after it witnessed attrition among its people.
For companies like HUL, experts say, the culture change would be aimed at attracting the next generation of people
who are keen on beginning their career journeys with startups [36].
8.1Diversity and inclusion: HR should help the organization to create culture by respecting and valuing differences in
race, gender, ethnicity, age, physical and language abilities, culture, religion, and sexual orientation. Shell, IBM,
Accenture, Coca Cola, Tata consultancy services, etc are some of the companies who have initiated towards creating
such culture. In 2003, INFOSYS launched a global council of six internal, senior women who were tasked with
conceptualizing and implementing an initiative that would create a gender-sensitive environment to attract, hire, and
retain top talent, including women. Between 2003 and 2006, the retention rate for women increased, which Infosys
attributes to its programs and policies [37].

5.Conclusion
In the struggle for survival, the fittest win out at the expense of their rivals because they succeed in adapting
themselves best to their environment - Charles Darwin. There is an immediate need for the businesses to adapt to
the changes and transform themselves radically. The companies to prove their competency in the highly competitive
market have to come up with innovative ways of human resource management. All the above mentioned retention
strategies are beneficial in todays VUCA environment. HR and talent management professionals can help their
organizations to succeed in todays tough and aggressive environment by developing and retaining employees with
proper understanding, clarity, and agility.

References
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A Publisher for Research Motivation........

Volume 4, Issue 1, January 2016

Web Site: http://www.ipasj.org/IIJM/IIJM.htm


Email: editoriijm@ipasj.org
ISSN 2321-645X

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Author
Jasleen Kaur did her Bachelors in Commerce (Delhi University) and then MBA in Human Resources (New
Delhi Institute of Management). She is UGC-NET (HR) qualified who has an experience of working with
private firms and as a visiting faculty in college.

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