The workplace is undergoing a transformative revolution. With the rapidly changing demands of globalization and the rise of AI, Talent demands more personalized brand experiences, which go far beyond basic benefits. This has forced companies to radically rethink how they manage and attract talent. In this fast-paced environment, employees with skills such as adaptability, technological knowledge, and people management are more sought after than ever. However, despite the high demand, companies are finding it increasingly difficult to retain these valuable team members.
Shine has just launched an exciting new campaign under our new social media property titled HR Pulse, where leading HR and talent acquisition experts will share their insights on the most effective retention strategies in today’s competitive landscape. This initiative offers a unique opportunity to dig deeper into how companies are investing in talent management, providing invaluable insights not only for employers, but also for job seekers curious about what makes an employer truly stand out.
To understand how organizations design better retention strategies, we reached out to Sonali Misra, Vice President, Talent and Chief HR Officer, Bain & Company (India). With 21 years of experience in top-tier organizations across management consulting, travel, and IT, Sonali is a seasoned HR leader. Her passion lies in collaborating with leadership teams to refine and improve their talent strategies while mentoring the next generation of HR professionals.
Interview Experts:
What are the most effective retention strategies you have implemented so far?
I will not only talk about what I have seen at Bain, but I will also bring into play some of my experiences prior to Bain, which were with GE Magnum Technology Solutions, MakeMyTrip and then at Bain. I do not look at retention strategies per se. Anything to do with retaining an employee in an organisation is a more holistic consideration and it really has to do with the talent value proposition that an organisation offers to its employees. So I think it has more to do with the entire employee experience when working in the organisation, from the time they are considering joining, either through campus or laterally, to how they grow and develop.
And then even towards exit and how they participate as alumni in the future of the organization. In terms of the talent value proposition, there are several things to consider. One, of course, is competitive compensation, but several studies and a lot of experience show that compensation is not the only reason an employee stays. It’s the composite experience of learning, growth, and support during life’s moments of truth because even the best employees don’t have a linear journey. There are always ups and downs, both personally and professionally.
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