Retention Through Employee Engagement<br />
Feeling “engaged” depends on the “strength” of the workplace not necessarily on the corporate leadership<br />- Buckingham...
The importance of feeling “ENGAGED”<br /><ul><li>Companies do not retain people
People decide to stay
They decide to stay when they feel “engaged”
“Engaged” employees stay longer</li></li></ul><li>Feeling “Engaged” depends on<br /><ul><li>THE STRENGTH OF THE WORKPLACE
CLEAR EXPECTATIONS
RESOURCES
OPPORTUNITY
RECOGNITION
CARE & CONCERN
DEVELOPMENT
PARTICIPATION
PURPOSE
QUALITY
APPRAISAL
LEARNING</li></ul>If we provide all the above, then we have built a GREATER PLACE TO WORK. Most of the above are in the ha...
The BOSS<br /><ul><li>The “Boss” is the key factor in building a strong work place.
Talent retention strategy will work if we have the “Boss” in right place.
“Boss” who “nurture” and “mentor”.
Creates nurturing environment for the employees to imagine, explore, pioneer, invent etc.</li></li></ul><li>Growth is a pr...
New businesses provide career opportunities.
Retaining talent and growing business are therefore interdependent.
“Growth” is therefore a pre-requisite.</li></li></ul><li>They want to be with us. why?<br />2/3 of the workforce have put ...
Creating an effective Reward Environment<br />Does the organisation’s reward and recognition policies and habits support t...
Creating an effective Reward Environment<br />Recognition Plans:<br />Celebrate objective and/or goal achievement<br />Rei...
Creating an effective Reward Environment<br />Organisation taking care of personal needs (Dry cleaning, shopping, etc.)<br...
What drives the Remuneration & Benefits Strategy?<br />Reward Strategy<br />REMUNERATION<br />Variable pay<br />Performanc...
13<br />Why Retention Matters<br /><ul><li>Costs: 1½ - 2 times salary & benefits
Staffing costs – costs to hire
Vacancy costs – lost productivity
Training costs – to prepare new employee
“Acting” pay
Loss of knowledge
Work not done, priorities not met
Impact on colleagues </li></li></ul><li>14<br />Obstacles to Retention<br />Competition for the tech savvy, interpersonall...
15<br />The Changed Employer-Employee Relationship<br />The “contract” is broken<br />Life Long Employment vs. Mutuality o...
16<br />Why Employees Stay<br />A feeling of connection<br />Feeling valued<br />Personal and professional growth<br />Con...
17<br />Retention Begins with Orientation<br />
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Use this presentation for how to improve retention

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Use this presentation for how to improve retention

  1. 1.
  2. 2. Retention Through Employee Engagement<br />
  3. 3. Feeling “engaged” depends on the “strength” of the workplace not necessarily on the corporate leadership<br />- Buckingham & Coffman, ‘First Break all the Rules’<br />
  4. 4. The importance of feeling “ENGAGED”<br /><ul><li>Companies do not retain people
  5. 5. People decide to stay
  6. 6. They decide to stay when they feel “engaged”
  7. 7. “Engaged” employees stay longer</li></li></ul><li>Feeling “Engaged” depends on<br /><ul><li>THE STRENGTH OF THE WORKPLACE
  8. 8. CLEAR EXPECTATIONS
  9. 9. RESOURCES
  10. 10. OPPORTUNITY
  11. 11. RECOGNITION
  12. 12. CARE & CONCERN
  13. 13. DEVELOPMENT
  14. 14. PARTICIPATION
  15. 15. PURPOSE
  16. 16. QUALITY
  17. 17. APPRAISAL
  18. 18. LEARNING</li></ul>If we provide all the above, then we have built a GREATER PLACE TO WORK. Most of the above are in the hands of THE BOSS.<br />
  19. 19. The BOSS<br /><ul><li>The “Boss” is the key factor in building a strong work place.
  20. 20. Talent retention strategy will work if we have the “Boss” in right place.
  21. 21. “Boss” who “nurture” and “mentor”.
  22. 22. Creates nurturing environment for the employees to imagine, explore, pioneer, invent etc.</li></li></ul><li>Growth is a pre-requisite<br /><ul><li>Talent can be retained with business growth.
  23. 23. New businesses provide career opportunities.
  24. 24. Retaining talent and growing business are therefore interdependent.
  25. 25. “Growth” is therefore a pre-requisite.</li></li></ul><li>They want to be with us. why?<br />2/3 of the workforce have put up more than 10 years of service- Bondage<br />Management by heart – Caring and sharing as one family<br />Trust <br />Cultural fit – MNC with ‘Indian Character’<br />140 divisions – ample learning and growth opportunities<br />“Bosses without Bossism” - Mentors<br />Age neutral - age diversity<br />Empowerment – Climate for action<br />Work life balance<br />
  26. 26. Creating an effective Reward Environment<br />Does the organisation’s reward and recognition policies and habits support the development of the desired culture? <br />Is their a balance between the formal and informal reward and recognition initiatives?<br />Is the working environment inspiring and does it make employees feel at home/special?<br />Is it a caring environment/culture and does the organisation carry the employee’s well-being at heart?<br />Is the management style promoting/facilitating development and growth?<br />Do people believe in the organisation and it’s leadership?<br />Does the organisation have formal recognition/award plans in place? <br />
  27. 27. Creating an effective Reward Environment<br />Recognition Plans:<br />Celebrate objective and/or goal achievement<br />Reinforce extraordinary performance, normally outside of job expectations.<br />Recognise activities/ events/ milestones<br />Peer-to-peer, managerial recognition<br />Award Schemes:<br />Cash awards (Once off bonus payment, vouchers, car-hire, etc.)<br />Non-cash awards (Development programmes, overseas tours, trophies, certificates, etc.)<br />Spot awards<br />Risk prevention awards<br />
  28. 28. Creating an effective Reward Environment<br />Organisation taking care of personal needs (Dry cleaning, shopping, etc.)<br />Grocery delivery service<br />Creche facilities<br />Hiring of Executive Cars for Employees (Ferrari’s, Porsche, Chauffeur-driven, etc.)<br />Overseas tours<br />Health, golf, country club membership<br />Virtual offices<br />Secure working environment<br />Flexible working hours/output based performance contracts<br />Rewarding/involving spouses/family members<br />
  29. 29. What drives the Remuneration & Benefits Strategy?<br />Reward Strategy<br />REMUNERATION<br />Variable pay<br />Performance /<br />Result<br />Business strategy<br />Employeefringe benefits<br />Development of pay according to personal performance and business result<br />Creating of pay structure <br />according to business requirements<br />Base pay<br /> Competencies<br />Market<br />5 4 3 2 1<br />Development of pay according to job fulfilment and role behaviour<br />Positioning of pay <br />structure in the market<br /><ul><li> Product Market </li></ul> Competition<br /><ul><li> Labour Market </li></ul> Competition<br />JOB GRADE<br /> Function<br />Structuring of pay according to<br /> function value<br />
  30. 30. 13<br />Why Retention Matters<br /><ul><li>Costs: 1½ - 2 times salary & benefits
  31. 31. Staffing costs – costs to hire
  32. 32. Vacancy costs – lost productivity
  33. 33. Training costs – to prepare new employee
  34. 34. “Acting” pay
  35. 35. Loss of knowledge
  36. 36. Work not done, priorities not met
  37. 37. Impact on colleagues </li></li></ul><li>14<br />Obstacles to Retention<br />Competition for the tech savvy, interpersonally skilled <br />Declining supply of library & information science professionals <br />More choices for both degreed and non-degreed personnel<br />Low compensation<br />Retirements <br />Freezes<br />
  38. 38. 15<br />The Changed Employer-Employee Relationship<br />The “contract” is broken<br />Life Long Employment vs. Mutuality of Purpose<br />Free agents<br />Flexibility to meet diverse needs<br />Work/life considerations<br />
  39. 39. 16<br />Why Employees Stay<br />A feeling of connection<br />Feeling valued<br />Personal and professional growth<br />Continuous learning<br />Making a difference<br />Good management<br />Can’t afford to leave<br />Fair pay and benefits<br />
  40. 40. 17<br />Retention Begins with Orientation<br />
  41. 41. 18<br />Orientation<br /><ul><li>Relationship begins before the hire
  42. 42. Employees value a personal connection
  43. 43. Accommodate different learning styles
  44. 44. Make it interactive and fun
  45. 45. Complete paperwork and procedural “stuff” in advance</li></li></ul><li>19<br />Orientation Beyond the Workplace<br /><ul><li>Offer dual career assistance
  46. 46. Include family in the equation, invite to orientation
  47. 47. Match new employees with friends and services, new neighbors, teenage babysitters, etc.
  48. 48. Help with relocation</li></li></ul><li>20<br />Assimilation <br /><ul><li>Provide a buddy/</li></ul> mentoring<br /><ul><li>Create & reward best practices
  49. 49. Develop expectations for management</li></li></ul><li>21<br />Welcome!<br /><ul><li>Desk, computer, workspace ready on day one
  50. 50. Welcome card
  51. 51. Balloons, food
  52. 52. New employee party at work site
  53. 53. Formal follow-up at 30, 60, 90, 120 days</li></li></ul><li>Keys to RetainingTop Talent<br />
  54. 54. 23<br />Job Satisfaction & Retention <br />
  55. 55. 24<br />1. Increase Opportunity<br />Challenge<br />Interesting projects<br />Responsibility<br />Team leadership<br />Special assignments<br />Promotion<br />
  56. 56. 25<br />Opportunities for Employee Development <br />Internal recruitment<br />Support for education<br />Job rotation/cross training<br />Task forces, project assignments<br />Academies of learning<br />Career ladders<br />Mobility among libraries<br />
  57. 57. 26<br />Cultivating Excellence<br />Individual development plans<br />Coaching/mentoring<br />Performance management with real feedback and coaching<br />360 feedback<br />Accelerated advancement/steps<br />Co-manager opportunities <br />Shared staff opportunities <br />
  58. 58. 27<br />2. Decrease Stress<br /><ul><li>Identify stressors
  59. 59. Distribute work evenly
  60. 60. Eliminate red tape
  61. 61. Manage interruptions
  62. 62. Promote and model</li></ul> stress-reducing activities<br />
  63. 63. 28<br />Work/Life Balance<br />Define work in terms of what <br />is to be accomplished<br />Provide flexible work schedules<br />Evaluate alternative work places and telecommuting<br />Appreciate dilemma of child care, elder care, multiple individual roles<br />“Allow” voluntary demotions<br />Appreciate diversity of personal values and priorities<br />
  64. 64. 29<br />3. Provide Leadership<br />Build trust <br />Commit to helping others succeed<br />Offer motivation<br />Seek excellence <br />Take action<br />
  65. 65. 30<br />4. Emphasize Work Standards <br /><ul><li>Focus on taking pride
  66. 66. Link performance to customer satisfaction
  67. 67. Develop customer service and quality measures collaboratively
  68. 68. Be very clear on expectations
  69. 69. Celebrate achievements</li></li></ul><li>31<br />5. Provide Fair Rewards<br />Employees want fair rewards for the work they do, based on:<br />Skill <br />Responsibilities<br />Effort<br />Working conditions<br />Communicate <br />Reward for top performance<br />
  70. 70. 32<br />Convenience/Concierge Services<br />Dry cleaner pick-up<br />Supermarket / Carry-out delivery <br />Financial planning <br />Passes, discounts – zoo, museum <br />Classes on-site – educational, fitness<br />Discount coupons – cleaning services, manicures, lawn care<br />Wellness, health screening<br />
  71. 71. 33<br />6. Allow Adequate Authority<br />Empower employees to act<br />Encourage employee input to decisions, goals, and direction setting<br />
  72. 72. 34<br />Retaining Talented Workers as They Near Retirement<br />Phased retirement<br />Re-hiring as part-timers or consultants<br />Temp work<br />Training/mentoring assignment <br />Sabbatical <br />
  73. 73. Recognizing Employees<br />“People will forget what you said. People will forget what you did. But people will never forget how you made them feel.”<br />Anonymous<br />
  74. 74. 36<br />Recognition <br />Enhances performance<br />Helps motivate <br />Provides practical feedback<br />Makes it easier to get the work done<br />Improves productivity<br />
  75. 75. 37<br />Recognition Updated<br />Includes informal elements<br />Multiple programs & activities<br />Leader-oriented<br />Frequent & flexible<br />Culture of performance<br />Used for everyone<br />
  76. 76. 38<br />Coworkers Recognize Colleagues <br />Dedication<br />Achievement<br />Character<br />Service<br />“Can do”attitude<br />Respect<br />Cooperation<br />Helpfulness<br />Flexibility <br />
  77. 77. 39<br />Supervisors Recognize Staff<br /><ul><li>Handling an emergency or difficult situation
  78. 78. Filling in on another job
  79. 79. Completing a special task
  80. 80. Consistently presenting a positive attitude that inspires
  81. 81. Giving time & assistance to an area or staff person outside dept. or responsibility</li></li></ul><li>40<br />More Formal Rewards<br /><ul><li>Customer Service Award
  82. 82. Spirit Award
  83. 83. Service Awards
  84. 84. Retirements</li>
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