{"id":5875,"date":"2021-11-19T09:14:52","date_gmt":"2021-11-19T07:14:52","guid":{"rendered":"https:\/\/blogit.lab.fi\/labfocus\/?p=5875"},"modified":"2021-11-19T10:39:46","modified_gmt":"2021-11-19T08:39:46","slug":"employee-retention-is-topical-issue","status":"publish","type":"post","link":"https:\/\/blogit.lab.fi\/labfocus\/en\/employee-retention-is-topical-issue\/","title":{"rendered":"Employee Retention is Topical Issue"},"content":{"rendered":"\n

The Nordic Game Exec Summit 2021 took place on Tuesday, 2nd of November in Malm\u00f6, Sweden. The Exec Summit is annual gathering that takes place the day before Nordic Game conference<\/a> begins. Participants of the Exec Summit are people in executive roles in the game industry. The event has long history, it will celebrate its 20th birthday in 2024. (Nordic Game Resources AB 2021.)<\/p>\n\n\n\n

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Image 1. The Nordic Game Exec Summit 2021 participants. (Picture: Vidya Ernstsson Robertson)<\/figcaption><\/figure>\n\n\n\n

Themes of the Summit<\/h2>\n\n\n\n

The Summit was organized in three different parts. First, general topics and talks were presented. The second two were tied to the ongoing COVID-19 and challenges that game companies have faced during that time:<\/p>\n\n\n\n

  1. Teams & Production<\/li>
  2. Employer branding<\/li>
  3. Talent acquisition<\/li>
  4. Work\/life balance<\/li>
  5. Diversity<\/li><\/ol>\n\n\n\n

    These topics were examined in two ways: first, what problems and complications have been occurred under these themes. Secondly, what has been learned by solving the problems and how they have made companies stronger.<\/p>\n\n\n\n

    Employee retention in the game industry<\/h2>\n\n\n\n

    One of the most talked about subject during the event was employee retention. This is tied to, one way or another, to all the previously mentioned five themes of the Summit. Game industry is not alone with this challenge. According to McKinsey (De Smet et al. 2021) research, this is a challenge that many other industries globally face as well. Hospitality industry seems to be most at risk of losing employees, 47 % of the workers is planning this. Also, considerably part of the production workers (43 %), white-collar workers (41 %), healthcare workers (36 %) and educators (32 %) plan to leave their current work within the next three to six months. Overall, 40 % of the survey responders are at least somewhat likely to quit their jobs in the near future (Image 2). (De Smet et al. 2021)<\/p>\n\n\n\n

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    Image 2. Only 60 % of employees are not considering leaving their jobs. (De Smet et al. 2021) <\/figcaption><\/figure>\n\n\n\n

    Employee retention strategies aim to keep talents in-house and minimize the employee turnover. Usually, 90 percentage retention goal is seen as a good result. (The Great Game of Business 2021.) According to McKinsey results (De Smet et al. 2021),the top reasons employees leave are:<\/p>\n\n\n\n