The future of work: strategies to retain talent and improve well-being in the company

In a changing and competitive environment like the present one, retaining talent in the medium and long term is a challenge for companies, as it is one of their most important assets. Work-life balance and well-being are key factors in retaining employees over the long term, avoiding the turnover that entails a waste of resources, time, and energy for both parties. If the Big Quit or the Great Resignation has taught us anything, it’s that in the end, workers not only care about having a good salary or prestigious job: their personal satisfaction is equally or more important than the mentioned factors.

The professor at the Mays Business School at the University of Texas, Anthony Klotz, coined the term The Great Resignation to refer to the mass exodus of workers from their jobs following the COVID-19 pandemic. This phenomenon began in the United States in 2021, and replicated in different parts of the planet, without distinction of professional categories. Klotz had focused his research on the reasons that drive workers to leave their positions and how the environment affects employees. This situation has been a great learning experience for companies that want to make a difference: to be truly competitive, they not only need to attract talent but also retain it, and that requires putting workers at the center and creating a climate of workplace well-being.

At MAPFRE, we understand this, and that's why we have incorporated the creation of an employment quality plan into our priorities, based on professional development and satisfaction. We apply a model of active listening and continuous measurement that facilitates direct employee participation through various proposals. On one hand, we have listening and participation groups,, where a sample of the workforce is invited to participate in focus groups (segmented by age, tenure, origin, promotion, etc.) and the experience of each group is contrasted with the rest. The transactional eNPS® questionnaire facilitates measurement through short questionnaires that complement previous listening. Additionally, there is the annual recommendation, satisfaction, and commitment survey.

The employee journey is a term used to define the complete trajectory of an employee within a company. It provides a clear and useful framework for aligning each employee's aspirations with the corporate culture and allows for improving the overall experience within the organization.

By adopting an employee journey-centered approach, a culture of engagement is cultivated, leading to more productive and cohesive teams. This fosters a continuous flow of mutual growth, where the company and its workforce thrive together in an environment of collaboration and support.

The employee journey with a company begins even before their incorporation: with the first impression they receive as a candidate through the job advertisement, references from other employees, or the company's reputation in the media. Once the candidate becomes an employee, the journey continues through their integration, professional development, recognition, and eventual disengagement.

The complete cycle of the employee journey is usually divided into the following phases or stages:

• Recruitment: Interacting with candidates during the selection process is the first point of contact. 

• Onboarding: Welcoming fosters integration into the work environment and corporate culture. 

• Development: After the adaptation period, employee skills are reinforced through training, competency assessment, goal setting, and strengthening the relationship with the company. 

• Consolidation: During this stage, workplace recognition and opportunities for promotion reinforce satisfaction, loyalty, and commitment. 

• Exit: Providing support and a proper farewell at the end of the employment relationship is also crucial for the image that the employee retains of the company and can subsequently impact reputation.

MAPFRE supports each of the phases that our employees go through during their career. To achieve this, we have internal training plans that improve employability, health benefits, social benefits, an inclusive and diversified workforce where we promote pay parity, inclusion, and cultural, generational, and gender diversity.

We embrace new ways of working that include digital disconnection and hybrid and flexible work formats, which promote work-life balance. The future aims to provide a work experience aligned with the WHO's framework for the Global Movement for Well-being, promoting important aspects such as a sense of purpose, personal satisfaction, and mental health.

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