How do you handle employee mobility and retention in JV scenarios?

1 Align JV goals and HR policies

The first step is to align the strategic goals and objectives of the JV with the HR policies and practices of the partner organizations. This means ensuring that the JV has a clear vision, mission, values, and culture that are communicated and understood by all employees. It also means harmonizing the compensation and benefits, performance management, training and development, and career progression systems of the JV with those of the parent companies. This will help to avoid confusion, inconsistency, and conflict among employees and managers.

2 Foster trust and teamwork

The second step is to foster trust and teamwork among the employees of the JV, especially those who come from different backgrounds, cultures, and functions. This means creating a positive and inclusive work environment that respects diversity and encourages communication, cooperation, and feedback. It also means providing opportunities for employees to interact, socialize, and learn from each other, both formally and informally. This will help to build rapport, understanding, and loyalty among employees and managers.

3 Support employee mobility and development

The third step is to support employee mobility and development within the JV, as well as between the JV and the parent companies. This means offering flexible and attractive career paths for employees who want to move within the JV or to other parts of the organization. It also means providing adequate and relevant training and development programs for employees who want to enhance their skills and competencies. This will help to retain talent, increase motivation, and foster innovation among employees and managers.

4 Recognize and reward employee performance

The fourth step is to recognize and reward employee performance in the JV, both individually and collectively. This means setting clear and measurable goals and expectations for employees and providing regular and constructive feedback and coaching. It also means designing and implementing a fair and transparent reward system that acknowledges and incentivizes employee contributions, achievements, and behaviors. This will help to improve performance, satisfaction, and commitment among employees and managers.

5 Manage employee transitions and exits

The fifth step is to manage employee transitions and exits from the JV, whether they are voluntary or involuntary. This means preparing and supporting employees who are leaving the JV for any reason, such as retirement, resignation, termination, or redeployment. It also means maintaining contact and relations with former employees who may be valuable sources of knowledge, referrals, or future collaborations. This will help to minimize disruption, maintain reputation, and enhance alumni engagement.

6 Evaluate and improve HR practices

The sixth step is to evaluate and improve the HR practices of the JV on a regular basis, using data, feedback, and best practices. This means measuring and monitoring the effectiveness and impact of the HR policies and programs on the JV's performance, culture, and employee outcomes. It also means identifying and addressing any gaps, issues, or opportunities for improvement or innovation. This will help to ensure that the HR practices of the JV are aligned, relevant, and responsive to the changing needs and expectations of the JV and its employees.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?