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Cracking the code to retain talent
- 1. Cracking the Code to Retain Talent
- 2. Constant Changing Workplace scenario is a key challenge for any organization 2 According to study by Gallup, More than 50% of employees are always looking for a job change 25% of employees likely to leave in their First Year o Hiring Talent involves a lot of Cost and Time o Inconsistent workforce inversely impacts Productivity What to do
- 3. 3 What is Employee Retention ? Feedback & Support Clear Direction & Objectives Reward & Recognition Good Working Relationships Employee Retention
- 4. 4 What can be done for the Consistent Manpower ? Campus hiring is inevitable, we have to catch them young & train them. Easy to train young minds Focus on up skilling. Technology is moving at fast pace Futuristic view & planning Important role of Manager – Regular personal conversation with team member Four Stage of Learning: Self motivation Company Sponsored Enterprise level Inbuilt learning culture Embed Learning in KPI. Motivation for better lmplementation Culture as the differentiator Clear laid career & upskilling path – employee growth along with company’s growth Hiring Millennial – It is more about helping them to realize their purpose, aligned with company’s purpose Glitter of new age technologies: Blockchain, AI, workflow automation. Teach and they will implement
- 5. 5 Major Factors for Retaining Talent 02 03 04 01 Retention Strategy Positive Employee Engagement Complement Organization Growth with Employee’s Growth Importance of Manager’s Role (Coaching Potential Leaders)
- 6. 6 Reasons Why Employees Leave ? Job is not Challenging 5 Work Life Balance6 Do not Enjoy their Job7 Overwork8 Manager’s Poor Supervision 1 Lack of Growth Potential 2 Lack of Recognition 3 Inadequate Pay 4
- 7. 7 How to Reduce Employee Turnover ? Extract DIAMONDS among the stones Giving a Finish Touch to your DIAMOND Creation of LEADERS & DECISION MAKERS Compensate those who make ORGANIZATION WORTH
- 8. 8 Ways to Improve Employee Retention & Reduce Employee Turnover Hire the Best & Avoid the Rest Orientation Program for New Employee Supportive Work Place Skill development & Career Advancement Early Warning detection System Look for Triggers of Separation Identify and Weed out Poor managers