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This document discusses motivation and retention strategies for employees. It defines motivation as boosting employee morale to encourage better performance. Employee motivation and retention are important for productivity, profits and success. Motivating factors include appreciation, career growth, and good working conditions. Retention involves ensuring employees remain with an organization through competitive pay, training, positive relationships, and support. Reasons for turnover include lack of growth, appreciation, trust and high stress. The document provides various strategies for motivating and retaining valued employees.
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- 1. MOTIVATION & RETENTIONSTRATEGIES
- 2. Who is anemployee?An individual who works part-time or full-time under a contract of employment, whether oral or written, express or implied, and has recognized rights and duties. What is Motivation?Motivation is the process of boosting the morale of employees to encourage them to willingly give their best in accomplishing assigned tasks. Motivation is the key to achieving extraordinary results.What is Employee Motivation?Without a motivated workforce, productivity, morale, profits, product and service delivery suffers.
- 3. From line managersto top executives, understanding what factors motivate the employees is key to gain the human resource advantage that leads to success in our challenging market place.Definition of Employee Motivation:According to Burrel Lee Wilks III “Employee motivation is a reflection of the level of energy, commitment, and creativity that a company's workers bring to their jobs.”
- 4. Why is MotivationRequired?Motivation helps you get started
- 5. Motivation helps youkeep moving
- 6. Motivation makes youdo more than necessary
- 7. Motivation makes thejourney funWhatFactor Motivates Employees?Appreciation or recognition for a job well done
- 8. Being in theknow about company matters
- 9. An understanding attitudefrom the managementContd..
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- 16. Tactful disciplineMETHODS OFMOTIVATING EMPLOYEES:The best employee motivation efforts will focus on what the employees deem to be important.EMPOWERMENT
- 17. CREATIVITY AND INNOVATIONContd..
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- 21. OTHER INCENTIVESWhat isRetention?Retention is the process of ensuring that your members or volunteers remain active with your organization.
- 22. Retention isnot a particularly formal process. Instead, it focuses on maintaining a welcome environment, member morale, and organizational progress.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.Definition of Employee Retention:According to Get Les Mckeown’semployee retention is define as “ effective employee retention is a systematic effort by employers to create & foster an environment that encourages current employees to remain employed by having policies and practices in place that address their needs”.
- 23. WhyRetention?If employees feeldissatisfied with the current employer or the job, they switch over to the next job. It is the responsibility of the employer to retain their best employees.R –EMUNERATE COMPETITIVELYE -NCOURAGEMENT AND EXPECTATIONST – RAINING AND DEVELOPMENTA -NNUAL REVIEW CYCLESI - NFORM AND INVOLVEN -URTURE
- 24. Retentioninvolves five majorthings:Compensation
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- 28. SupportImportanceof Employee Retention: TheCost of Turnover
- 29. Loss of CompanyKnowledge
- 30. Interruption of CustomerService
- 31. Turnover Leads toMore Turnovers
- 32. Goodwill of theCompany
- 33. Regaining EfficiencyWhy employeesleave the organization?Job is not what the employee expected to be
- 34. Job and personmismatch
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- 36. Lack of appreciationLackof trust and support in co-workers, seniors and management
- 37. Stress from overworkand work life imbalance
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- 42. Misguidance by thecompany
- 43. RetentionStrategies:Work environment (location,variety, flexibility, culture) Financial(base salary, incentive, bonuses, options, benefits, recognition) Personal (quality of work, skills, training, self-leadership, opportunities) Relationships(owners, managers, peers, mentors, customers) & so on.
- 44. The Three R’sof Employee Retention:To keep employees and keep satisfaction high, the management need to implement each of the three Rs of employee retention:Rewards
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- 46. RespectKEi’s Employee RetentionWheel:KEi's Employee Retention Strategy is based upon two primary beliefs:It is difficult for employers to retain good employees if they don't have a process to hire the right people in the first place.
- 47. Retention processes mustdirectly support the reasons that successful, satisfied employees stay.
- 48. KEi'sEmployee Retention Wheel:EIGHT FACTORSAttitude for Employing
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- 55. Rewarding EmployeesTechniquestoRetainEmployees:Treatyour employeeslike you treat your most valuable clients
- 56. Get your employeesto "Fall in Love" with your organization
- 57. Strong retention strategiesbecomestrong recruiting advantages
- 58. Retention is muchmore effective when you put the right person into the right job. Know the job! Money is important but it is not the only reason people stay with an organization.
- 59. An employee committeeto help develop retention strategies is a very effective strategy.
- 60. Leadership must bedeeply invested in retention.
- 61. Recognition, in variousforms, is a powerful retention strategy.
- 62. Remember, the "FunFactor" is very important to many employees.
- 63. SOME EXAMPLES OFNEW AGE HR PRACTICES:EmployeeRetention: A Tale of Two Companies.
- 64. Employee Retention: ATale of Two Companies - Google &Zappos
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