Retention Of Employees Visit hrmba.blogspot.com for more presentations, project reports etc.
“ We cant stop employees from leaving unless we have a plan to make them stay!”
What is Employee Retention?
Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project.
Employee retention is beneficial for the organization as well as the employee.
Employees Retention involves five major things: Compensation Environment Growth Relationship Support
What makes employee leave ?
Job is not what employee expected.
No growth opportunities .
Lack of appreciation.
Lack of trust and support.
Stress from overwork.
New job offers.
Employee Retention Strategies .
Hire the right person in right place.
Empower the employee.
Make them realize that they are valuable for Organization.
Have faith in them , trust & respect them.
Provide Information & knowledge.
Give feedback on performance.
Recognize & appreciate their achievements.
Keep their morale high.
Create healthy environment.
Importance of Employee Retention.
The cost of turnover.
Loss of company knowledge.
Interruption of customer services.
Turnover leads to more turnovers.
Goodwill of Company.
Retention Myths (Conclusion) The process of retention is not as easy at it seems. There are so many tactics and strategies used in retention of employees by the organizations. The basic purpose of these strategies is to increase employee satisfaction, boost employee morale hence achieve retention. Visit hrmba.blogspot.com for more presentations, project reports etc.
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