Social and Process Innovations Applicable in Employee Retention:Strategies Concerning Adult Third Culture Kids

Abstract

This paper examines the effectiveness of process and social innovations implemented within employee retention strategies targeting the identity group of Adult Third Culture Kids. Using an exhaustive literature review method, 37 scientific articles and 7 electronic resources were consulted. The analysis revealed that social innovations such as, but not limited to, creating a sense                          of community and belonging, and process innovations such as providing opportunities for career development as well as flexible working options, have a positive impact on the retention of the working force, especially diverse force and Adult Third Culture Kids. The findings are twofold. First, they suggest that organizations should make additional efforts towards understanding more nuanced characteristics that certain diverse identity groups within the active workforce, such as Adult Third Culture Kids, possess. Second, findings indicate that organizations could improve employee retention by implementing social and process innovations into employee retention strategies that address this demographic group's unique needs and challenges. This study contributes to the literature on employee retention strategies as well as to the literature on Adult Third Culture Kids in business environments thus providing new knowledge to the field and practical recommendations for managers seeking to improve retention rates together with the knowledge on diversity. Additionally, this study offers various options for further research in the field of innovations within cross-cultural management, diversity and inclusion and employee retention.