Over the past decade, retention strategies have evolved from transactional incentives to integrated, people centred approaches. This shift reflects a growing recognition that employee commitment is shaped not only by pay but also by purpose, development, and wellbeing, all key to sustaining competitive performance.
According to Ronél Camacho, master reward specialist and member of the South African Reward Association’s (SARA’s) Thought Leadership Committee, organisations that succeed in retaining talent are those that integrate reward, development, and engagement across the entire employee lifecycle.
“We are seeing a clear move away from fragmented retention initiatives towards a more human centred, integrated approach,” says Camacho. “Employees today are looking for meaning, balance, and authenticity. Organisations that understand and deliver on these needs are the ones that retain their talent.”
What research reveals
Recent studies by the Academy to Innovate HR (AIHR), Gartner, Achievers, and PwC show that effective retention strategies begin at the very start of the employee journey. Success depends on hiring the right people, creating meaningful onboarding experiences, and offering fair, transparent, and competitive rewards.
Beyond this, employees remain loyal when they have access to professional development, flexible work arrangements, holistic wellbeing initiatives, and a culture of belonging supported by authentic leadership and open communication.
Camacho adds that while these strategies are well documented, their success relies on careful adaptation. “There is no universal formula,” she explains. “Best practice only works when it is tailored to an organisation’s size, structure, resources, and the people it employs.”
Lessons from Company X
Camacho points to the experience of an unlisted South African Fintech company, referred to as Company X, as a case in point. With a workforce of around 500 to 600 employees, Company X competes with large financial institutions that can offer more lucrative reward packages.
The company also faces strict compliance requirements, limited promotional opportunities due to its flat structure, and high turnover in telesales and contact centre roles, positions typically filled by younger employees who value flexibility and income stability.
To address these challenges, Company X redesigned its retention approach to reflect its specific context. It reduced compulsory retirement fund contributions to boost take home pay without increasing employer costs, introduced formal job rotation to build broader skills and succession pipelines, and created deferred cash incentives for executives tied to three-year performance periods.
Within the telesales division, improved onboarding and revised commission models have helped to stabilise early turnover. The company also encourages cross functional project participation and uses learnerships as an effective talent pipeline to identify and develop high potential employees with a strong cultural fit.
“Company X demonstrates how context driven creativity can turn constraints into opportunities,” says Camacho. “Instead of copying a textbook model, they have built something that works for them, and it is paying off.”
Flexibility as the future of retention
Looking ahead, Camacho believes that flexibility will define the next generation of retention strategies. “Employees increasingly want to shape their own employment experience,” she says.
“Imagine a DStv-style bouquet of benefits and conditions of service, where people can select what suits their personal and professional needs. It is complex to implement, but it reflects where the modern workforce is heading.”
The key takeaway
SARA highlights three critical insights from this case. Context is essential, retention strategies must align with an organisation’s specific realities. Engagement is non-negotiable, solutions work best when co designed with employees and managers. Flexibility is fundamental, offering genuine choice fosters commitment and long-term loyalty.
As Camacho concludes, “One size does not fit all. But when organisations take the time to understand their people, adapt intelligently, and build with flexibility, what is good for the goose may well be good for the gander.”
In a market where skills are mobile and expectations are shifting, adaptive retention strategies are no longer optional, they are a core business imperative.