Decoding how top companies are redefining talent retention with Bain & Company’s Sonali Misra

The workplace is undergoing a transformative revolution. With the rapidly changing demands of globalisation and the rise of AI, talent is asking for more personalized brand experiences. It goes way beyond just basic perks. This has pushed businesses to radically rethink how they manage and attract talent. In this fast-paced environment, employees with skills like adaptability, tech-savviness, and people management are more sought after than ever. Yet, despite the high demand, companies are finding it increasingly difficult to keep these valuable team members on board.

Shine has just launched an exciting new campaign under our new social media property title HR Pulse where top HR and Talent Acquisition experts will be sharing their insights on the most effective retention strategies in today’s competitive landscape. This initiative offers a unique opportunity to delve into how companies are investing in talent management, providing invaluable perspectives not only for employers but also for job seekers curious about what makes an employer truly stand out.

To understand how organizations devise retention strategies better, we connected with Sonali Misra, the VP of Talent and Head of HR at Bain & Company (India). With 21 years of experience spanning top-tier organizations in management consulting, travel, and IT, Sonali is a seasoned HR leader. Her passion lies in collaborating with leadership teams to refine and elevate their talent strategies while also mentoring the next generation of HR professionals.

Experts from the interview:

What are the most effective retention strategies that you have implemented so far?

I will talk about not only what I've seen at Bain but also bring to bear some of my experiences prior to Bain, which was with GE Magnum Technology Solutions, MakeMyTrip, and then at Bain. I don't look at retention strategies per se. Anything to do with retaining an employee in an organization is a more holistic consideration, and it is really about the talent value proposition that an organization brings to its employees. So I think it's more about the entire employee experience when they work in the organization, right from when they are looking at joining, through campus or laterally, to how they grow and develop.

Here’s the video:

And then even towards the 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 is the experience made up of learning, growth, and support during life's moments of truth because even the best employees don't have a linear journey. It's always peaks and troughs, both personally and professionally.

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