Retension strategies of employee

3,880 views

Published on

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

Published in: Business, Technology
1 Comment
5 Likes
Statistics
Notes
No Downloads
Views
Total views
3,880
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
313
Comments
1
Likes
5
Embeds 0
No embeds

No notes for slide

Retension strategies of employee

  1. 1. RETENTION STRATEGIES OF EMPLOYEE at HIMANSHUIT SERVICES By Sanjay Samuel Y
  2. 2. 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
  3. 3. WHY RETENTION • Employee retention is one of the primary measures of health of an organization • Loss of a senior executive is even more costly • For long term health and success of business • Retaining best employees ensures customer satisfaction Product sales Profit
  4. 4. WHY IS IT IMPORTANT IS IT JUST TO REDUCE THE TURNOVER COST? • ANS: NO • Its not only the reduction of cost incurred by company .But also the need to retain talented employees from getting poached.
  5. 5. WHAT MAKES EMPLOYEES TO LEAVE  Job is not what the employee expected to be.  Job and person mismatch  No growth opportunities  Lack of appreciation  Lack of trust and support in coworkers ,seniors and management  Stress from overwork and work life imbalance  Compensation  New job offer
  6. 6. HOW TO INCREASE RETENTION
  7. 7. HOW TO INCREASE RETENTION • Open communication • Employee reward program • Career development program • Performance based bonus • Recreation facilities • Gifts at some occasions
  8. 8. MANAGING EMPLOYEE RETENTION • Indentify the cost of employee turnover • Understanding why employees leave • Implement retention strategies
  9. 9. RETENTION STRATEGIES
  10. 10. RETENTION STRATEGIES FOR AN EMPLOYEE  Hire the right people in the first place  Empower the employees  Make employees realize that they are the most valuable assets of the organization  Keep their morale value high  Create an environment where the employees want to work and have fun
  11. 11. RETENTION STRATEGIES FOR AN EMPLOYEE • Have faith in them, trust them ,respect them • Provide them information and knowledge • Keep providing them feedback on their performance • Recognize and appreciate their achievements
  12. 12. MANAGER ROLE  Creating a motivating environment
  13. 13. Providing Coaching
  14. 14. Standing up for team
  15. 15. Delegation
  16. 16. Extra responsibility
  17. 17. • Focus on future career
  18. 18. BENEFITS FOR AN ORGANIZATION  The cost turnover  Loss of company knowledge  Interruption of customer service  Turnover leads to more turnover  Goodwill of company  Regaining efficiency
  19. 19. DATA ANALYSIS AND INTERPRETATION HAPPY COOPERATE PRESSURIZED AWARD FUNCTION REFRESHER TRAINING FEEDBACKS
  20. 20. FINDINGS • Most of the employees looking forward for cab facility • Regular feed backs on their performance • More product knowledge or training required • Upgrade the rest room facilities • Establishment of cafeteria in office premises • Compensation should be improved • Development of infra structure • Professional attitude • Think different ( innovative ideas should be taken and should be implanted)
  21. 21. SUGGESTIONS • If the employees have regular feedback on their performance that will be very good for the improvement of the organization. • Training on the project should be give • Scope of improvement Professional attitude • Upgrading of skills • Think different • Formation of team should be improved.
  22. 22. CONCLUSION  If a person is not satisfied by the job he’s doing, he may switch over to some other more suitable job. In today’s environment it becomes very important for organizations to retain their employees.

×