Employee
Retention
One of the most
critical issues facing organizations nowadays is how to retain the employees
they want to keep. Nowadays retention is become a more challenging work for
organizations. Embedding your employees by building and creating the better
communication, fulfill the need assessment of employees. It is very hard to
track the talent from the population therefore it is indeed to maintain that
talent. The most of the organizations conduct the exit interviews whereas, they
asked regarding the feedback which is one of the most lucrative for getting the
deficiency about the job. Exit interviews are used to collect data on why employees are
leaving an organization. In a SHRM survey of HR professionals on the use of
routine organizational practices related to talent management, 61% of the
respondents reported that they used this type of interview. Exit interviews are
popular because they generate immediate data on why an employee is leaving.
They can also help an organization salvage a valued employee. Moreover, they
can serve public-relations function by ending the employment relationship on a
positive note.
Employee retention is
one of the most crucial steps that may be uncontrollable for an organization
but as long as the author concerned it can be diminish by utilizing the
different strategic plans Such as Compensation & Benefits, Performance
Appraisal, and Social Activities. Organizations are liable to provide the
different membership programs for their employees whereas employee will get
together and they can discuss readily throughout the social activities such as
“BOL” has introduced all facilities for their employees and it is perfectionism
that will retain employees for the long-term.
There are extensive and
resourceful strategically plans to interact and give the affections to
employee’s ultimately employees will retain for the long term. Organizations
should play the win-win situation whereas they work as a team players and
leaders. There are few steps that organization must follow:
- Right person should be placed to right Job
- Provide the recognition and responsibility
- Pay for Performance
- Provide the Training in case of uncertain situation
- open communication between employees and management
- Employee participation & Employee Engagement
- Competitive advantage
- Offers direct & indirect benefits & Packages
- Re-evaluate your benefits package
- Promotion plans for competent employees
It is primary
responsibility of HR managers that they should play as a neutral role they
should lead from transactional and transformational based by recognizing the
valued employees such as Employee Value Proposition (EVP) the total package of
extrinsic and intrinsic rewards provided to employees in exchange for joining,
performing, and remaining with the organization. Furthermore leveraging on
benefits through individual needs and preferences, there shouldn’t be biasness
always promote on fairly based like equal employee opportunity. Supervision dominance
should be diminishing ultimately employees will de-motivated and its effects on
productivity.
Effectively managing
retention in your organization isn’t easy. It takes extensive analysis, a
thorough understanding of the many strategies and practices available, and the
ability to put retention plans into action and learn from their outcomes. But
given the increasing difficulty of keeping valued employees on board in the
face of major shifts in the talent landscape, it is well worth the effort. Training
is also necessary for each employee from supervisors to managers and creates the
effective relationship with subordinates; supervisors are accountable and
responsible for retention, Create the neat and clean environment which enhances
the culture development.
