The document outlines a presentation for retaining talent at Emaar PJSC. It discusses introducing strategic onboarding, clear career paths, desired perks, scheduled raises, and a relationship-building culture. Short term recommendations include stay interviews to understand retention issues. Long term recommendations are mentor partners to assist new employees and unlimited paid time off to increase job satisfaction. The presentation is meant to address why employees often leave within a few years and implement solutions to improve retention.
2. 2
Our Agenda
Talent Retention is the best business plan for our success
2 minutes
Introduction
Status
Quo
1 minute
Long Term
Plan
1 minute
Problem
Definition
1 minute
Alternatives
6 minutes
Short Term
Plan
1 minute
Target Audience: Board of Directors
Our Role: HR Manager
Venue: Emaar Head Office (DIAC)
Date: October 21, 2019
3. 3
Meet The Team
Dhiraj Agarwal
Employee ID -190201032
Soumitra Dubey
Employee ID -190201108
Hiteswara Sai Girish
Employee ID - 190201117
Harish Vijayan
Employee ID -190201038
Akshay Sharma
Employee ID - 190201011
Talent Retention is the best business plan for our success
4. Our company has invested a lot of time and money in recruiting and
hiring the right talent for its day to day activities. The last thing we want
to do is let all that hard work go down the drain when an employee
leaves us for another opportunity.
INTR O D U C T I O N
By searching for some of the reasons Why do employees tend to change
their job so frequently, we learned that the top three reasons people leave
a position are to:
We also learned that once employees consider leaving, 42% said they
might have stayed if their employer had done something. Instead of
letting talent walk out the door, we have to do “something” by
implementing a retention program that becomes part of our company
culture.
4
According to our company’s Recruiting Trends Report, 41% of
the employees stay associated with the company for around 3 years
while 37% stay 5+ years and 22% leave their jobs in our company
within 1-2 years of joining.
5. quit their
jobs after 6
months
5
1/5 new hires
the employee’s
annual salary
Replacing talent can
cost upto
for the productivity of a
new employee to reach
that of an existing staff
member
It can take Engaged and happy
employees are
less likely to
look for a new
job
75%
OF MILLENIALS
Leave the company to
change the role
instead of waiting for
a promotion
6. Table of Alternatives:
1.A strategic onboarding process
2.A clear career path
3. Perks employees reallywant
4.Scheduled raises
5.A relationship-building culture
6. Financial Support
6
Short term recommendation:
1. Stay interviews
Long term recommendations:
1.Mentor partners
2. Unlimited PTO
7. D E S I G N A S TR O N G
E M P L O Y E E
E N G A G E M E N T PR O C E S S
We have very limited opportunities to make a good impression. The
first few months give our employees a taste of our company, and also
helps the individual know whether or not they made the right
decision by taking theposition.
1 Studies show that 91% of first-year employees can be retained
effectively with a formal onboarding program.
Thus our onboarding process should include a detailed plan for an
employee’s day, week and month..
• Acclimate them to our company and its environment.
• Provide them with the tools they need to do their job (there’s nothing
worse than an employee who doesn’t have a place to sit in his own
office).
• Establish expectations and educate them on procedures.
Tip:
Never let our employee eat lunch alone on any day. This is an
ideal opportunity to build an effective relationship between our
employees and managements learn about each other as a
person.
Problem Met:
Employees often complain of less autonomy because of no
guidance from senior management and almost negligible
approachability to seniors.
7
8. PR OV IDE E M P L O Y EE S WI TH
A RO A D M A P FO R SU CC E SS
The number-one motive people have for changing jobs is career
opportunity. That means it’s critical for us to outline and
communicate short-term milestones and long-term goals to our
employees.
2
Find out what they think: Ask questions, such as,
• “Are you happy with your current
responsibilities?”
• “Are there tasks or areas outside your current job
description you’re interested in exploring?”
• “Are you encouraged by the career path at our
company?”
Problem Met:
Complaints like no growth opportunities for our
employees have always been leading the lists
when it comes to employee attrition.
8
Tips:
As part of our onboarding process, we can
provide employees with 30, 60 and 90 day
plans, as well as insights on their growth
potential, including information about how and
when they might receive new responsibilities
and promotions. Set clear expectations and
provide regular touchpoints.
9. 3
OFFE R TH E PE R K S
T HE Y R E A LLY WA NT
Free accomodation and free food are cool benefits that
employees can brag about to their friends, but they might not be
enough to keep them in their job long term.
According to Glassdoor’s Employment Confidence
Survey, 79% of employees prefer new or additional
benefits to a pay increase. Here’s what they want:
1. Healthcare insurance
2. More paid timeoff
3. Performance bonuses
4. Retirement plans
5. Flexible schedules, including the ability to work
from home
Tip:
While preparing a budget for our company, we
should keep more reserves for perks and other
incentives for the upcoming new year. If adding more
budget isn’t feasible, then we can probably offer
them a source of recreation.
Problem Met:
This solution can be used as a substitute to unpaid
overtimes, no substitute holidays and at times for
non-reimbursement as well.
9
10. While money isn’t the principle reason, stats show that 74% of the
employees do switch their jobs on receiving a larger
compensation package.
Regular raises aren’t just appreciated; they’re expected. Half of
employees expect to receive a pay raise in around 12 months.
4
HAV E A SC H E DU LE FOR
GI V I N G RA ISE S
Tip:
Whether it’s at a special occassion or on an
employee’s anniversary, we need to schedule an
annual salary review.
This will help us make sure your compensation
package fits the market value for the job.
Problem Met:
Our employees complain that no monetary
appraisal is provided to them for their hard work.
Thus every year 35% of employees are expected
to look for a new job if they don’t receive a
raise.
Resource:
Take Chron’s 4 steps to calculating a salary
increase.
10
11. C R E ATE A N E N V I R O N M E N T
TH AT FO S TE R S G O O D
R E LAT I O N S H I P S
Relationships at work matter. Sixty percent of people say coworkers
improve their work environment the most. In fact, having a good
friend in the office has the potential to increase an employee’s
happiness as much as the psychological equivalent of earning
$100,000 more per year, according to research from UCLA.
5 Tip:
Set the stage for strong relationships by making it part of our
work culture:
• Plan out-of-office activities, such as happy hour at a nearby
restaurant oran employee centric in-house activity.
• Design our workplace to include gathering areas, such as
sofas or a large roomtable for break.
• Have an open door policy that makes leadership accessible.
• Introducing compensatory off policies.
Problem Met:
Lack of proper relationship amongst the co-workers and team
efficiency happens to be the areas of major concerns of our
company.
Apart from this problems like calling for meetings on weekends
can also be tackled by these solutions.
Statistics:
54% of people who are unhappy at work plan to leave within the
12 months of joining, while just 23% of those who are happy at
their current jobs plan to leave.
11
12. While money isn’t the principle reason, stats show that 74% of the
employees do switch their jobs on receiving a larger
compensation package.
Regular raises aren’t just appreciated; they’re expected. Half of
employees expect to receive a pay raise in around 12 months.
6
FINANCIAL SUPPORT -
LONG TERM COMMITMENTS
Tip:
• Providing interest free loans in exchange
for long term commitments
• Loan amount can be proportional to the
tenure of the employee with the
company.
• Employees can be made to sign a bond
with the company guaranteeing a
minimum year of service by which loan
amount could be recovered, thus
ensuring retention of employees for a
long time
• This schemes can be modified depending
on merit , hence end up rewarding loyal
employees
Problem Met:
Job security is one of the problems being faced by
our employees for so long. This is the reason why
employees think of new opportunities when they feel
their job is not secured.
12
13. SOME
C R E ATI V E R E TE N T I O N ID E A S
1. Stay Interviews 2. Mentor Partners 3. Unlimited PTO .
13
14. While a lot of companies conduct exit surveys to know the
reasons why employees are leaving the company, we can use one-
on-one(continuous and comprehensive feedback system) stay
interviews instead.
Why? While information collected after an employee has decided to
leave is valuable, it’s also too late. Stay interviews provide actionable
information that leaders can use to retain employees.
Source:- Webroot Software, the Broomfield, Colorado-based
cybersecurity provider
C O N D U C T S TAY
INT E R V IE W S
14
SHORT TERM RECOMMENDATION
15. A coworker mentor who acts like a go-to friend and work buddy, answering
questions and providing guidance can be of great help in convincing the
employees to continue their jobs.
Why? Veteran employees know the ins and outs of the company and can
lessen the learning curve. And the benefits go both ways: Acting as a mentor
brings greater job satisfaction and commitment to the employer, according
to studies.
Source:- TINYpulse, a Seattle-based employee engagement tool provider.
A SS I G N A M E N T O R
15
LONG TERM RECOMMENDATIONS
16. We can let our employees choose when and how many days they want to
take off during a month.
Why? While this may sound like an invitation for slacking, the policy gives
employees autonomy and flexibility, and that goes a long way in boosting
job satisfaction. Employees are responsible for getting their work done,
and the average team member takes three weeks a year.
Source:- Chegg, the Santa Clara, Calif.-based college textbook company.
G I V E U NL I M I TE D P TO
16
LONG TERM RECOMMENDATIONS