Study Reveals Best Strategies to Retain Talent During Business Separations
A business separation can lead to high resignation rates among key personnel. However, a new study reveals the best strategies to retain talent during such times. These include addressing employees' needs beyond basic benefits and offering real flexibility, career development, transparent communication, and open feedback channels.
The study finds that providing home office options, promoting work-life balance, and fostering well-being are crucial to keep employees engaged and prevent them from leaving. Additionally, offering generous severance protection is another effective HR strategy to reduce resignations by key talent during a business divestiture.
Severance protection can include cash, benefits, and perquisites. This provides employees with insurance against possible severance after the sale, giving them peace of mind and encouraging them to stay with the company.
In summary, to reduce key personnel resignations during a business separation, companies should address employees' evolving needs and provide generous severance protection. This includes offering real flexibility, career development opportunities, transparent communication, and open feedback channels, along with home office options and well-being initiatives. By doing so, companies can retain their top talent even during challenging times.
