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RETENTION STRATEGIES
OF
EMPLOYEE
at
HIMANSHUIT SERVICES

By Sanjay Samuel Y
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
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
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.
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
HOW TO INCREASE RETENTION
HOW TO INCREASE RETENTION
•

Open communication

•

Employee reward program

•

Career development program

•

Performance based bonus

•

Recreation facilities

•

Gifts at some occasions
MANAGING EMPLOYEE
RETENTION
•

Indentify the cost of employee turnover

•

Understanding why employees leave

•

Implement retention strategies
RETENTION STRATEGIES
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
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
MANAGER ROLE
 Creating a motivating environment
Providing Coaching
Standing up for team
Delegation
Extra responsibility
• Focus on future career
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
DATA ANALYSIS AND
INTERPRETATION

HAPPY

COOPERATE

PRESSURIZED

AWARD
FUNCTION

REFRESHER
TRAINING

FEEDBACKS
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)
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.
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.
Retension strategies of employee

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Retension strategies of employee

  • 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. 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. 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. 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. HOW TO INCREASE RETENTION
  • 7. HOW TO INCREASE RETENTION • Open communication • Employee reward program • Career development program • Performance based bonus • Recreation facilities • Gifts at some occasions
  • 8. MANAGING EMPLOYEE RETENTION • Indentify the cost of employee turnover • Understanding why employees leave • Implement retention strategies
  • 10.
  • 11.
  • 12.
  • 13.
  • 14. 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
  • 15. 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
  • 16. MANAGER ROLE  Creating a motivating environment
  • 21. • Focus on future career
  • 22. 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
  • 24. 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)
  • 25. 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.
  • 26. 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.