Staff retention and Engagement
R1.113 Staff Retention and Engagement in the Rail Industry
Retention and engagement of staff is highly significant. Even in times of higher unemployment and greater economic uncertainty, it is still crucial for organisations to be able to retain quality staff. Recent reports suggest that the rail industry confronts significant challenges that may require a reinvention of its workforce management policies and strategies. The loss of key employees, the loss of knowledge and capability, the cost of attracting and replacing those who leave, and the cost of retention programs pose a significant threat to the performance of the rail industry.
The project aims to identify ways of improving employee engagement and retention for organisations within the rail industry and for the industry as a whole, to identify and document examples of leading practice in employee engagement and retention for knowledge sharing within the industry and to identify alternatives to retention and engagement to enhance organisational sustainability and build organisational capacity through knowledge management.
This project is important to the rail industry since it will provide an understanding of what is currently happening in rail organisations, and, in turn, what strategies can be implemented to enhance retention and engagement of rail employees.
The benefits of this project to the rail industry include practical, industry-specific and evidence-based strategies that can be developed to aid retention and engagement of current and future staff. The implementation of these strategies will help the rail industry redress the expected staff shortages. The adoption of leading practices to manage employee retention and engagement will promote the rail industry as an employer of choice across the wider community. Moreover, the project will also contribute to knowledge sharing in the rail and related industries.