THE PRESENTATION FOCUSES ON THE IMPORTANCE, PROS, CONS AND IMPACT OF THE EMPLOYEES RETENTION AND SEPARATION. ALSO HIGHLIGHT SME STRATEGIES FOR APPROVING THE RIGHT WAY TO DO IT.
2. CONTENTS:
• REASONS
• DEFINITION
EMPLOYEES RETENTION :
• DEFINITION
• REASONS
• TYPES OF SEPARATION
INTRODUCTION
EMPLOYEES SEPARATION
• HOW AND WHO
• PROS AND CONS
• PROS AND CONS
3. INTRODUCTION:
Employees retention and separation dose not have -till now- the enough recognition
like the remaining HR functions and activities, although it considers to be one of the
most important functions as it affect directly in the performance of the organization.
Which will lead to leverage the competitive advantages of the organizations.
4. INTRODUCTION:
The human capital considers to be one of the most important assets in any
organization, that could be a competitive advantage for the organization.
to compete, organizations must ensure:
• Good performers are motivated to stay.
• low performers are allowed, encouraged or if necessary, forced to leave
5.
6. EMPLOYEES SEPARATION:
• The end of an employment relationship in a number of ways that virtually
mean the same thing to a person that the employee no longer works for the
company .
• Separation is a situation when the service agreement of an employee with
his/her organization comes to an end and employee leaves the organization.
DEFINITION :
Employees separation have many definitions, but all gives the same meaning and
results of separation:
8. EMPLOYEES SEPARATION:
Voluntary separation, which normally begins after a request is placed
in this regard by the employee, can happen due to two reasons:
• Professional reasons
Employees may seek separation when they decide to seek better
positions, responsibilities and status outside the present organization.
• Personal reasons
The important personal reasons for voluntary separation are relocation
for family reasons like marriage of the employees and health crisis of
family members, maternity and child-rearing.
TYPE 1: VOLUNTARY SEPARATION
9. EMPLOYEES SEPARATION:
REASONS:
Most of employees follows the Maslow`s
hierarchy of needs, they searches to fulfill these
needs in potential organizations.
As long as these need didn't fulfill he will never
feel the satisfaction.
This hierarchy considers to be the evaluation
criteria for the employee to compare between
the organization according to.
10. EMPLOYEES SEPARATION:
Leaving an unsatisfying Job:
• Supervisors and co workers attitude
• The job or workplace wan not as expected.
• The mismatch between job and person.
• Too little coaching and feedback.
• Too few growth and advancement opportunities.
• Feeling devalued and un-recognized.
• Stress from overwork and work-life imbalance.
• Loss of trust and confidence in senior leaders.
REASONS:
11. EMPLOYEES SEPARATION:
Leaving for something better:
• Typically, means employee has found a job that is better
in pay and or job satisfaction.
Following plan:
• A life Plan (i.e., start own business)
Leaving without a plan:
• Shock Event (i.e., a colleague is promoted to a position
an employee wanted, and results in that employee
leaving).
REASONS:
12. EMPLOYEES SEPARATION:
Involuntary Separation:
• Involuntary separation is caused by the factors which
remain beyond the purview of the employees. However,
these factors may be classified into.
1. Health problems
Major health problems that make the employees invalid
or unfit to continue in the profession.
TYPES 2:
13. EMPLOYEES SEPARATION:
2. Behavioral problems
An employee's objectionable and unruly behavior
within the organization may also lead to his involuntary
separation from the organization.
3. Organizational problems
Organizational problems are another important factor
that contributes to the involuntary separation of
employees.
TYPES 2:
14. EMPLOYEES SEPARATION:
ORGANIZATIONAL PROBLEMS
Retirement:
Retirement is the point where a person stops employment completely.
A person may also semi-retire by reducing work hours.
Dismissal:
Dismissal is where the employer chooses to require the employee to
leave, generally for a reason which is the fault of the employee.
Layoff :
Is the temporary suspension or permanent termination of employment of
an employee or (more commonly) a group of employees for business
reasons, such as when certain positions are no longer necessary or when a
business slowdown occurs.
15. EMPLOYEES SEPARATION:
Retrenchment:
means “discharge of surplus labor or staff” by the employer on account of
long period of layoff, or rationalization or improved machinery or
automation of machines or similar other reasons.
Rightsizing:
Rightsizing is the process of a corporation reorganizing or restructuring
their business by cost-cutting, reduction of workforce, or reorganizing
upper-level management.
The term rightsizing is often used by companies instead of
downsizing because. it sounds less drastic
ORGANIZATIONAL PROBLEMS
16. EMPLOYEES SEPARATION:
What to do?
1. Make the firing decision carefully, but once made, act quickly.
2. Ensure that multiple meetings have been held with the employee
3. Be respectful and discreet
4. Ensure that your severance or notice arrangements meet legal requirements.
5. Ensure that you have a written termination letter and release which documents
the terms and conditions of the termination.
SEPARATION PROCESS:
17. EMPLOYEES SEPARATION:
What to do?
6. Don't get personal.
7. Don't make a decision to terminate for cause without conducting a proper
investigation.
8. Don't hold the termination meeting in a public place.
9. Don't go into a termination meeting unprepared
10. Don’t get defensive or debate the merits of the firing decision with the
employee.
SEPARATION PROCESS:
18. EMPLOYEES SEPARATION:
• Reduced labor costs
• Replacements of poor performances
• Increase innovation
• The opportunity for greater diversity
PROS:
• High cost for compensation.
• Loss of information and know how.
• May affect the moral of the other employees.
• Lose of re-hiring process.
CONS:
19.
20.
21. EMPLOYEES RETENTION:
• Employee retention, a set of actions designed to keep good employees once they have
been hired.
• It is a strategy begin with the hiring process that can affect the hiring criteria and
strategy.
• Employee retention refers to policies and practices companies use to prevent valuable
employees from leaving their jobs.
• The retention in some cases depend on the functional value of the employee, to which
level is this employee important to the organization.
DEFINITION :
22. EMPLOYEES RETENTION:
The work force of any organization could be it`s competitive
advantage . Which is very hard to imitate or duplicate.
• To reduce the cost of turnover (hiring, orienting, learning,…etc.)
• To keep the good minds and entrepreneurs for continuous
improvement.
• To keep the customers with you (BANKS).
• To keep the good reputation of the company. (TURNOVER
LEADS TO MORE TURNOVER)
REASONS:
23. EMPLOYEES RETENTION:
1. Hiring the right people.
2. Employee empowerment.
3. Employee being the most valuable asset.
4. Believe In Your Employees.
5. Provide them information and
knowledge.
6. Feedback on their performance.
7. Recognize and appreciate.
8. Keep their morale high.
9. Create a “Healthy environment”.
HOW:
24. EMPLOYEES RETENTION:
HOW: HR Practice Example of Effective Tactics
Staffing
• Use realistic job previews
• Provide growth and promotion opportunities
• Select employees who fit with the organization
Training and development
• Offer educational programs such as MBA
• Provide sabbatical and other learning opportunity
Career planning • Specify clear career paths
Compensation
• Maintain competitive pay
• Develop fair pay practices
• pay for learning new skills
Labor relation
• Establish quick and fair grievance procedures
• Facilitate conflict resolution among employees
26. EMPLOYEES RETENTION:
• Avoids and or reduce hiring cost
• Retaining employees reduces training costs.
• It builds a team of skilled and experienced employees.
• Retaining experienced staff creates a positive impact on customer services.
• Retention activity fosters loyalty towards the organization amongst employees.
• Encourages friendly environment and fosters bonding amongst employees.
• It facilitates smooth workflow of internal processes.
• It enhance the quality of work produced.
• It increase the quantity of work delivered.
• It enhances revenues for the organizations.
PROS:
27. EMPLOYEES RETENTION:
• It promotes groups amongst old employees which creates an insecure environment
for new employees.
• Improper mixing of staff affects productivity and ensures poor quality of work.
• Excessive liberty to staff just to maintain work flow affects quantity and quality
both.
• Retaining non-delivering staff kills the productivity and creativity of knowledgeable
employees.
• Retaining spoon-fed and complaining employees add the cost of the organization.
• Affluent employees who don’t require a job rarely add value to the employee
strength.
CONS:
Many people love their work, and there are a multitude of reasons as to why this is the case. They may like the company atmosphere, their boss, and their co-workers. An exciting position, with plenty of opportunity for growth, learning, and advancement, is always desirable, as is a meaningful job that has the potential to make a difference in the lives of others. Dissatisfaction with one or more of these things could force the employee to consider leaving.
A rather obvious way for a company to better retain their employees is by offering competitive salaries and bonuses. Everyone likes to be recognized for a job well done, and nothing makes someone feel more appreciated than cold hard cash. It also shows the employee that the company has some degree of loyalty towards them, which could in turn influence them to repay their employers with some loyalty of their own. Increased benefits, stock options, more vacation time, company cars, child care, and other perks don't hurt either. Financial support for employees who wish to continue their education would also most likely be appreciated and rewarded with employee loyalty.
In many instances, employee retention starts just as soon as an employee is hired. If a company sees an unusual amount of potential in a new hire, management could make them feel appreciated right off the bat. Interest free loans to help pay off their college bills or other debts is one way for an employer to do this. In order to keep the employee from jumping ship before the loan is paid off, the employer can do several things, including staggering payments or making the loan contingent on certain performance goals. In a way, this practice can be considered a combination of recruitment and retention tools. Similar programs could also be implemented for employees that already have tenure built up with the company.
There are times when an employee wants to leave a company not for a better job opportunity, but for the chance to relocate. Usually if this is a case, the employee's needs are strictly personal ones. If possible, a business can offer a relocation allowance to the employee and still try to keep them in the company in the same or a different capacity. Again, the details would have to be worked out on an individual basis so that the employee does not abuse this privilege.
The implementation of company policies like flextime, job-sharing, and part-time work may also prove useful in retaining an employee who wishes to leave their job for personal reasons. By doing so, a company could gain a reputation as a family-friendly environment and therefore make itself more attractive to future potential employees.
Another thing that employees seem to enjoy are casual days (or even a company-wide casual dress policy). This allows employees the chance to better express themselves and creates a more comfortable work environment. In most cases, the dress code should be clearly defined so that the employees do not abuse the privilege and promote an unprofessional image about the company.
A company may also want to spend some time to get to know their employees better. A thorough understanding of an employee's goals, concerns, skill level, values, health, and job satisfaction are just a few of the areas that can be addressed. By doing so, the employee could be made to feel more like a prized individual and less like a cog in a corporate machine. At the same time the company will educate itself as to which employees are the most valuable in both a business and personal sense.
When a valued employee leaves, the company can use information gathered in an exit-interview to find out the reasons for the employee's decision and the changes that can be made within the company to keep others from following suit. This data can be gathered into a formal report and distributed to management, members of the human resource team, and other pertinent employees to be used for this purpose.
Finally, upper-level employees can be trained as retention managers to help in the seemingly never-ending battle to keep talent. A successful retention manager must be aware of their strengths and weaknesses and have a talent for listening, respecting, and understanding their employees' concerns. Retention managers should be individuals who have already proven their loyalty to the company. Honesty, creativity, and patience are other virtues that can help in this type of position.
Read more: http://www.referenceforbusiness.com/small/Di-Eq/Employee-Retention.html#ixzz44V5gu1IS
Many people love their work, and there are a multitude of reasons as to why this is the case. They may like the company atmosphere, their boss, and their co-workers. An exciting position, with plenty of opportunity for growth, learning, and advancement, is always desirable, as is a meaningful job that has the potential to make a difference in the lives of others. Dissatisfaction with one or more of these things could force the employee to consider leaving.
A rather obvious way for a company to better retain their employees is by offering competitive salaries and bonuses. Everyone likes to be recognized for a job well done, and nothing makes someone feel more appreciated than cold hard cash. It also shows the employee that the company has some degree of loyalty towards them, which could in turn influence them to repay their employers with some loyalty of their own. Increased benefits, stock options, more vacation time, company cars, child care, and other perks don't hurt either. Financial support for employees who wish to continue their education would also most likely be appreciated and rewarded with employee loyalty.
In many instances, employee retention starts just as soon as an employee is hired. If a company sees an unusual amount of potential in a new hire, management could make them feel appreciated right off the bat. Interest free loans to help pay off their college bills or other debts is one way for an employer to do this. In order to keep the employee from jumping ship before the loan is paid off, the employer can do several things, including staggering payments or making the loan contingent on certain performance goals. In a way, this practice can be considered a combination of recruitment and retention tools. Similar programs could also be implemented for employees that already have tenure built up with the company.
There are times when an employee wants to leave a company not for a better job opportunity, but for the chance to relocate. Usually if this is a case, the employee's needs are strictly personal ones. If possible, a business can offer a relocation allowance to the employee and still try to keep them in the company in the same or a different capacity. Again, the details would have to be worked out on an individual basis so that the employee does not abuse this privilege.
The implementation of company policies like flextime, job-sharing, and part-time work may also prove useful in retaining an employee who wishes to leave their job for personal reasons. By doing so, a company could gain a reputation as a family-friendly environment and therefore make itself more attractive to future potential employees.
Another thing that employees seem to enjoy are casual days (or even a company-wide casual dress policy). This allows employees the chance to better express themselves and creates a more comfortable work environment. In most cases, the dress code should be clearly defined so that the employees do not abuse the privilege and promote an unprofessional image about the company.
A company may also want to spend some time to get to know their employees better. A thorough understanding of an employee's goals, concerns, skill level, values, health, and job satisfaction are just a few of the areas that can be addressed. By doing so, the employee could be made to feel more like a prized individual and less like a cog in a corporate machine. At the same time the company will educate itself as to which employees are the most valuable in both a business and personal sense.
When a valued employee leaves, the company can use information gathered in an exit-interview to find out the reasons for the employee's decision and the changes that can be made within the company to keep others from following suit. This data can be gathered into a formal report and distributed to management, members of the human resource team, and other pertinent employees to be used for this purpose.
Finally, upper-level employees can be trained as retention managers to help in the seemingly never-ending battle to keep talent. A successful retention manager must be aware of their strengths and weaknesses and have a talent for listening, respecting, and understanding their employees' concerns. Retention managers should be individuals who have already proven their loyalty to the company. Honesty, creativity, and patience are other virtues that can help in this type of position.
Read more: http://www.referenceforbusiness.com/small/Di-Eq/Employee-Retention.html#ixzz44V5gu1IS