In today’s candidate- driven HR world, it is harder and harder for companies to retain talent, meaning that managing and reducing employee turnover rate has become one of the top priorities for the management’s checklist. Coordinated in conjunction with CCI France, a learning session was hosted last week and Matt De Luca, Managing Director of JobNet.com.mm which is the leading online recruitment platform in Myanmar, where speakers and attendees all shared knowledge and best practices on “Employee Retention Strategies and Myanmar HR Market Trends”. Both members and non-members of the Chamber who are looking to expand their workforce and attract the best talent in the country highly anticipated the discussion which also featured Loring Harkness, CEO of Mote Poh, who added additional information about the employee benefits at the end of the session.

Mr. De Luca shared the various pain points that employers in Myanmar are facing nowadays, which include high cost of hiring expenses and how those can impact the business operations and resource management. He also highlighted that employers should consider some main factors before they employ their staff to understand who they are bringing onboard. For example, checking references before offering employment could help a company be able to know more about the potential employee from an unbiased source. Also, JobNet discussed the pain points and importance of keeping good employees in a company. Some common factors that could lead to an employee leaving the company could consist of the distance between work and home, changes of employee’s lifestyles, better offers from other companies, family background and status, and more.

In order to keep the lowest turnover rate possible, Matt has suggested that the first factor that employers should adopt at their workplace is providing more career growth opportunities to employees and making sure to communicate them clearly. Consistent communication with employees to ensure everyone in the organization is on the same page is crucial. Furthermore, providing flexible working environments such as preset hours for time on the clock and the ability to work from home has become one of the key solutions for overcoming changes of employees’ lifestyles and market demands.

Being a market leader, JobNet Myanmar has been carrying out real-time surveys and quarterly market reports, which could help both employees and employers discover competitive HR best practices. The survey results about the current demands arisen by the employees had also been shared during the conference, much to the delight of the attendees.