Employee retention is a process in which the employees are encouraged to remain withthe 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. reasonS for increasing employee attrition if they are either unhappy with their job, or feel that they have not got enough from the company. monotonous tasks odd working hours lack of growth jobs have also become easily accessible.
Hiring new employees requires good amount of time and money There is always a risk if the new employee selected will adjust to the newenvironment, his dedication and work efficiency etc. Resignations are quite infectious. There is loss of knowledge Relationship with customers is affected..higher retention rate helps to build goodwill of the company
Increase Employee EngagementEnsure that the employees have a clear understanding of their roles andresponsibilities in the organization.Employees can also be offered to head larger teams, be involved in forecasting andgoal setting for the company, and also be allowed to make more meaningful decisionsat their own level Ensure that the employees feel valued for their contributions, and have high jobsatisfaction.Increasing employee engagement helps to develop emotional connection,enthusiasm among the employees.
MOTIVATE EMPLOYEES offer the employee perks and incentives, along with addedfrills like employee stock options, bonuses and other monetarygains.give an employee a chance to grow within the organisation. show your employees that you value them and they areirreplaceable.provide employees with flexible working hours, work fromhome facility, and education at work.to involve and support employees in achieving organizationalgoals.Find out what are the things that demotivate employees.
Implement a well-designed assessment andselection processInclude behavioral assessments and structuredbehavioral interviewing techniquesensure that the skill set of the people match withthe available profile.identify the required traits, competencies, skill-sets and personality-related competencies, if any.assess a potential employee’s communicationskills.understand a candidate’s level of expertise in thecontext of the job being applied for.hold employees satisfaction surveys time to time.
Recognition of Performanceopenly recognizing the performance, initiative, and good work increasesthe morale and motivates the employee to work more productively.cash benefits like extra payment for extra load bearing, regularincrements, and other cash benefits on specific occasions. Non cash benefits like job rotation, skill enhancement, etc., can also beexercised.Appreciating the performance.
Focus On Team BuildingPromoting team culture helps to activelyinvolve all employees in achieving the goalsand in overall success of the organization.Team building promotes team work andteam effort that help them to tackle workpressure.help to reduce workplace conflictsbetween team members as they work in ateam.provide a competitive advantage toorganization.
managers attitudeExplain why.Show that you care.Listen before you speak.Say what you mean and mean what you say.Be fair.Engage and encourage people to come up with their own solutions.Promote this: "You have the right to disagree, but you should never be disagreeable".
Communicating with EmployeesIt will keep the management informed about whether he is happy in the job ornot. It will also keep them keyed in into the fact whether an employee is planningto leave.Improve manager and employee relationshipsShow your employees you care about their lives both inside and outside ofthe office.Ensure that the environment in which they are working is one thatencourages and motivates
Implement programs for employee training and developmentShows willingness of an organization to develop their people.Providing opportunities for improvement and growth.It makes an employee more loyal towards an organizationIt makes the employees mobile & versatileIt helps employees to gain acceptance OTER TECHNIQUES Exit interviews Retention interviews Focus groups and surveys
Factors essential for making retention techniques effective• Clarity of role•Good Managers/Supervisors• Open and transparent culture• Talent management and skill utilization• Learning and growth opportunities• Communication and contact• Employee appreciation
CONCLUSIONEmployees are a valuable asset to any organization. It is essential to protect this vitalresource as talented and motivated employees play a crucial role in overall growth andsuccess of the organization.Focusing on employee retention techniques can positively impact the organization as itincreases employee productivity, performance, quality of work, profits, and reducesturnover and absenteeism. Effectively creating an engaging environment, recognizing good performance, givingbenefits and rewards, promoting mutual respect are some of the ways for effectiveemployee retention.