“Attracting talent and retaining it are two sides of the same challenge.” In one phrase, CDCL Group HR director Julien Bossu sums up the other challenge associated with recruitment in HR departments: how do you retain employees?

“Attracting and retaining talent are based on the same fundamentals, mainly the company’s raison d'être,” adds the Post’s CEO, Isabelle Faber. “An employer that enables its employees to give meaning to their work and to be proud of belonging to a company naturally creates an environment that is conducive to long-term commitment.”

Louis de Looz-Corswarem of BGL BNP Paribas says: “While it is important to integrate new visions and fresh ideas into our teams, it is just as essential to preserve expertise and knowhow. In a world where the relationship between work and the company is changing, and where the war for talent is intensifying, it’s a real challenge to establish careers over the long term. But I’m convinced that by offering career prospects that allow you to reinvent yourself, and by having a company project that makes sense, you can nurture your values and preserve your personal balance--and you can write long, beautiful stories.”

Continuous attention

“In a market where opportunities abound,” says Marc Parage of Lalux, “retaining talent requires continuous attention: development opportunities, recognition, work/life balance and a strong corporate culture. The conclusion is clear: retaining talent is just as complex as attracting it, because loyalty cannot be decreed, it has to be built day by day.”

“Personally, I think that retention is essentially a question of satisfying the need for flexibility and professional development,” says Didier Lemeire, deputy head of HR and people management leadership coach at Spuerkeess. “As a major player in our field, we can offer stimulating job content and exposure to challenging issues. The flexibility and ongoing development measures provide another interesting element.”

“Yes, retaining talent is just as crucial as attracting it,” adds Raiffeisen’s HR director Laurent Derkum. “Particularly the new generations, who may be less loyal and less attached, are constantly looking for new challenges.”

“To retain our talent, we use two levers: we put in place clear career models with attractive career prospects, and we invest in the development of skills and expertise,” says Nicole Dochen of Banque de Luxembourg.

At Société Générale Luxembourg, “we have strengthened our induction and integration process for new employees,” says Aurélie Ederle. “As part of the employee induction programme, we have a ‘Culture and Conduct’ seminar, which enables us to work on the values of the Société Générale Group and to create a collective dynamic. Career and mobility interviews are also key elements of our employee support system.”

Individual support

“Retaining talent is just as complex as attracting it, especially in a market as competitive as ours,” says Christopher Frères, HR director at the Luxembourg Stock Exchange. “This requires a comprehensive offer: career, training and wellbeing. And you must not forget to provide solutions tailored to the needs of the new generations.”

Delphine Bath of La Mondiale Europartner adds: “Attracting talent is essential, but retaining it is strategic. Otherwise, you’re just filling a leaky basket. Attracting and retaining talent depends on the quality of the company’s project, its culture, its leaders, its management, and the attention paid to wellbeing, skills development and career prospects.”

“Retention no longer takes place over as many years as in the past,” says Edith Brunner, HR director at Lombard International Assurance. “We have to accept that, sometimes, the best retention will be temporary; it is therefore just as complex, if not occasionally more complex, to retain talent [than to recruit it]. All the measures we have taken in recent years are now showing results, with the turnover rate falling steadily over the past two years.”

“According to the recent PwC 2024 Global Workforce Hopes and Fears Survey, more than a quarter (28%) of employees questioned worldwide say they are very or extremely likely to change employer in the next 12 months,” points out Delphine Berlemont of PwC. “The study concludes that employees today are prioritising skills development and adopting technologies such as GenAI to boost their careers. Job satisfaction alone is not enough; greater attention is being paid to skills development in a context of ongoing technological change. Employers need to invest in their workforce and technology platforms to ease the pressure on employees and retain the best talent.”

“Improving the induction process, wellbeing programmes and flexible working arrangements” are the drivers, says Matina Korma of BDO.

Leaving… and coming back

At Pictet, “we are seeing a particular trend,” says Lise Roda: “some of our talented people leave us but end up coming back because they miss our values. We are delighted that they gain experience externally and we are very happy to see them come back with new expertise.”

“It’s essential to be consistent and authentic from the very first stages of recruitment,” says Magali Maillot on behalf of A&O Shearman. “Integration and training are crucial. The first few weeks and months are decisive in creating commitment.”

“When expectations are well managed and aligned with reality, it becomes easier to retain talent, particularly through career development solutions and a favourable working environment,” agrees Julian Troian of ING Luxembourg.

“Employee expectations are constantly evolving,” adds Myriam Sibenaler of the ABBL. “We believe that personal fulfilment and development opportunities tailored to each individual’s aspirations are essential to retaining our teams.”

For a few extra euros

At Sodexo Luxembourg, Ann De Jonghe notes: “We have seen our average length of service drop. Some employees, though fulfilled, leave us for a few extra euros or just to see something else. Nothing can ever be taken for granted, and this volatility means that we have to listen to our employees as much as possible.”

“At Delhaize, we are banking on a corporate culture based on transparency and authenticity, which helps to reduce disillusionment and strengthen employee loyalty,” says Marine Cardé of the supermarket chain.

“Retention is becoming a priority,” comments Liliana Alves of La Provençale. “We have reviewed our employee career paths, strengthening integration and providing opportunities for career development.”

“Employees are no longer looking for a job for food reasons, but for personal fulfilment and development, with high expectations in terms of flexibility to reconcile private and professional life,” notes Léa Piot of Cocottes. “The environment in which the employee evolves is essential for a long-term relationship, which is why we promote both vertical and cross-functional internal development.”

Focus on management

“You need a roadmap to retain talent, and that involves a manager who needs to know their teams and the needs of each individual, by creating a climate of trust and ongoing dialogue,” says Chantal Trausch of Rak Porcelaine Europe.

“Once again, leadership and corporate culture are decisive factors,” says Fabrice Encelle of SLG. “Career prospects are also essential to enable our employees to project themselves into the company in the medium term.”

“In Luxembourg, competition with the civil service, which offers security and benefits, makes this task even more complicated,” adds Dussman’s Christelle Noel.

Competition from the state

“We’re trying to focus on personalising each employee’s career path by offering more training tailored to individual needs,” says Tatiana Escure of Stëmm vun der Strooss, adding: “My door is always open to discuss needs.”

“We are in a sector governed by a collective agreement… which means that the war for talent is not with our ‘competitors’ but with the state or with hospitals,” comments Dorothée Schneider of the Luxembourg Red Cross. “To retain talent, the best weapon is to develop the skills of our management, promote our strategy and, above all, our employer brand.”

“In the healthcare sector, it is certainly more difficult to attract candidates than to retain them, as the terms of the collective agreement are relatively advantageous,” says Karine Rollot of the Robert Schuman Hospitals Foundation. “Still, constant efforts are being made to develop skills and recognise employees.”

“We are indeed facing national and international competition,” adds Olivier Schmitt of the CHL. “It is essential to maintain a certain consistency in remuneration and career development policies within Luxembourg hospitals, and to ensure that our professions are accessible if they are to remain attractive,” he says.

“As the university is still a young organisation, it is continuing to structure its career path,” says Claire Audollent of the University of Luxembourg. “Having set up a job classification and training pathways, we are now focusing on career development, by strengthening internal mobility, formalising development plans and carrying out a complete review of our onboarding and offboarding processes.”

A career to be nurtured

“The war for talent is also being waged when it comes to retaining employees, and this is all the more difficult as many professionals are now seeking to diversify their experience and career paths,” says KPMG’s HR director Géraldine Hassler. She confirms that “employees are increasingly looking to diversify their career paths by moving between different business sectors and locations. Faced with this trend, employers must redouble their efforts to adapt by offering development opportunities, greater flexibility and stimulating environments in order to retain employees. It is also essential to manage the departure of employees and maintain regular contact with them.”

“This allows them to be potentially reintegrated into the business, benefiting from the experience they have gained so far,” Hassler continues. KPMG’s employee journey strategy is based around several key areas, she says: “Putting in place an integration process--‘pre-onboarding’--so that new members already feel part of #TeamBlue team even before they officially arrive; encouraging more instantaneous and multi-dimensional internal communication, allowing information to flow smoothly and interactively; encouraging learning and the adoption of new working methods, with a focus on developing a growth mindset and promoting co-creation; maintaining links with absent employees over the long term, by nurturing their return after maternity/parental leave, illness or other prolonged absence; and digitising many processes to empower employees through intuitive self-service solutions.”

This article, originally published in French, was written for the Paperjam HR Leaders 2025 supplement of the February 2025 edition of Paperjam magazine published on 29 January. The content is produced exclusively for the magazine. It is published on the website to contribute to the complete Paperjam archive. Click here to subscribe to the magazine.

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