The flow@work model as a talent retention framework for the knowledge economy

Abstract

The world of work has entered the fourth Industrial Revolution. Technological innovation, a multi-generational workforce that is distributed across the globe, and the rise of on-demand talent have changed the way in which organisations operate. Talent has become a scarce commodity, with organisations having to compete for this global and mobile workforce. The ability to attract and retain top talent has become a critical organisational capability, yet organisations are battling to retain employees, with talent attrition rates reaching alarming levels. The changing psycho-social contract, employees wanting to work for multiple employers at the same time, and a workforce that views loyalty as an outdated concept have resulted in organisations having to redefine their talent strategies to remain competitive. Concepts such as purpose, meaningful work, lifelong learning, and growth have become key priorities as organisations are redefining their internal brands to become employers of choice. This chapter discusses the Flow@Work Model as a talent retention framework for knowledge-economy organisations. The model is built upon the theoretical concept of psychological work immersion, which refers to a pervasive state of profound emotional, cognitive, and physical identification with, and enjoyment of, the work experience within a particular socio-cultural context. The Flow@Work Model has been utilised as a framework for the implementation of various talent retention strategies within South African organisations as a means to drive sustainable business performance.