The document discusses concepts related to employee retention, reasons why employees leave, and how to retain good employees. It notes that employees often leave due to poor relationships with bosses rather than dissatisfaction with the work. Retaining employees is important for business success. Providing career growth opportunities, competitive pay and benefits, and ensuring employees understand expectations can help with retention. Exit interviews may also provide insights for improving employee satisfaction.

1. How To Retain Good Employees
Thien Nguyen

2.  Some concepts concerning the
importance of employee retention
 The reasons employees leave
 How to retain good employees
and minimize the turnover

3. CONCEPTS
 People don't really work for companies;
they work for a boss. A good boss can keep
employees, make them happy and reduce the costs
associated with employee turnover
 The perception of equitable treatment is important
in employee retention
 Many surveys suggest that employees often leave a
company not because of dissatisfaction with the
company or work itself, but because of
poor relationships with a boss or unpleasant
interpersonal issues.

4. CONCEPTS
 Employees are one of a company's largest
expenses these days. The cost of replacing a bad
hire far exceeds the marginal additional cost of
hiring the best person in the first place
 Employee retention is critical to the long term health
and success of the business
 The best employees seek frequent opportunities
to learn and grow in their careers, knowledge and
skills. They never stop learning and crave new
challenges

5. CONCEPTS
 Almost everyone works for money. People
always want employers to pay them above market
rates
 When the employees recognize a good boss and a
real leader or the company is a place people want
to come to and work for, they will stay around.
Company culture can be a powerful recruitment
and retention tool
 Boss might want to pay his good employees a bit
more than the norm

6. CONCEPTS
 HR professionals were asked which programs or
policies they use currently to help retain
employees. The following three are the most
common programs employers are using to retain
good employees:
• 62 percent provide tuition reimbursement
• 60 percent offer competitive vacation and
holiday benefits
• 59 percent offer competitive salaries and
bonus.
• …

7. CONCEPTS
 Employees cited the following three top reasons
they would begin searching for a new job:
• 53 percent seek better compensation and
benefits
• 35 percent cited dissatisfaction with potential
career development
• 32 percent said they were ready for a new
experience
• …

8. The leave reasons
 Lack of :
• clarity about expectations
• feedback for performance
• challenge in work, with boredom of low workload
• support from their peers and managers when
have excessive workload
 The company is experiencing a downward spiral
 Company policies and procedures are not clear
and communicated well
 No training and development opportunities

9. The leave reasons
 Relationship with management team is damaged
 Insufficient recognition for the level of
contribution and effort provided
 Stopped having fun and enjoying their job
 Pay isn’t commensurate with performance.
Benefits package is not satisfactory
 Anxiety about the promotion, income and
retirement security
 Concerns about management’s ability to lead the
company forward successfully

10. Job Withdrawal Process
The Causes of Job Dissatisfaction
Personal • Negative affectivity
Dispositions • Core self-evaluations
• Role
• Role ambiguity
Tasks and Roles
• Role conflict
• Role overload
Supervisors and • Negative behavior by managers
Coworkers • Conflicts between employees
• Pay is an indicator of status in
the organization
Pay and Benefits
• Pay and benefits contribute to
self-worth

11. How to retain employees
and minimize the turnover
 Meet employees periodically to learn about their
talents, abilities and skills. Help them feel
welcomed, acknowledged and loyal
 Communicate goals, roles and responsibilities so
people know what is expected and feel like part of
the in-crowd
 Make the workplace fun
 Set goals for employees that can be achieved
 Provide an environment that people are comfortable
providing and receiving feedback

12. How to retain employees
and minimize the turnover
 No matter the circumstances, never, never, never
threaten an employee's job or income
 Provide appropriate rewards and recognition for
jobs done well
 Demonstrate support, listen and respect for
employees at all times, never ridicule or shame them
 Pay for what they deserve
 Enable employees to balance work and life. Allow
flexible working times and core business hours
 Hold exit interviews with departing employees to
retain remaining staff

13. How to retain employees
and minimize the turnover
 Provide employee with new challenges, cross
training, growth opportunities and career
progression. A career-oriented, valued employee
must experience growth opportunities within the
organization
 Involve employees in solving problems and making
decisions that affect their jobs and the overall
direction of the company whenever possible
 Offer performance feedback and praise good
efforts and results

14. How to retain employees
and minimize the turnover
 Recognize and link attractive pay to excellent
performance, celebrate success.
 Offer an attractive, competitive, benefits package
with components such as life insurance, vacation
and flexible working hours
 Nurture and celebrate organization traditions.
Celebrate good news such as new business wins
and other significant milestones
 Make promotion system is fair and that
employees know exactly what they need to do to get
ready for the next opportunity

15. Questions & Answers