Employee Retention as a Priority for Russian Companies in 2024

The article explores the main trends in personnel management within modern Russian organizations, identified through surveys of executives and HR managers. From the analysis of these surveys, employee retention has been highlighted as a priority in the face of a growing personnel deficit caused by demographic issues, the emigration of qualified specialists, and an aging population. The article also identifies specific characteristics of young professionals from Generations Y and Z, who make up a significant part of the workforce in today’s labor market. This necessitates the development and application of new approaches to employee retention to ensure organizational competitiveness. The concept of a candidate-driven market, which characterizes the labor market in most sectors of the modern economy in Russia, is explained in the article. Key factors contributing to staff turnover and employee satisfaction are highlighted, underscoring the need to develop comprehensive recommendations for staff retention that consider both macro- and micro-levels of organizational management. Based on the analysis conducted, the article proposes tools for employee retention that can be utilized by modern Russian companies in the context of an existing and intensifying shortage of personnel. The recommendations emphasize a humanistic approach to personnel management, as it focuses on the well-being and needs of employees. This approach recognizes the significance of each individual within the organization, emphasizing respect, honesty, and fairness in interactions. A humanistic approach fosters a trusting and supportive work environment where employees can realize their potential and feel valued. Thus, it not only enhances employee satisfaction and loyalty and reduces staff turnover but also contributes to improving overall productivity and efficiency within the organization.

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