Transcript
EMPLOYEE RETENTION
Presented by :- Ramkrishna
Rajput
“We cant stop employee
from leaving unless we have
a plan to make them stay’’
WHAT IS EMPLOYEE RETENTION
Employee Retention is process in
which the employee are encouraged
to remain with organization for the
maximum period of time or until
the completion of the project.
Employee Retention is beneficial
for the organization as well as the
employee.
WHAT MAKES EMPLOYEE LEAVE ?
Job is not what employee
expected.
No growth opportunities.
Lack of appreciation.
Lack of trust and support
Stress from overwork.
Compensation.
New job offer.
IMPORTANCE OF EMPLOYEE RETENTION
The cost of Turnover.
Loss of company knowledge.
Interruption of customer services.
Turnover leads to more turnover.
Goodwill of company.
Regaining Efficiency.
EMPLOYEE RETENTION INVOLVES FIVE MAJOR
THINGS.
1. COMPENSATION
2. ENVIRONMENT
3. GROWTH
4. RETATIONSHIP
5. SUPPORT
COMPENSATION
Bonus
Health Insurance
After Retirement
Miscellaneous compensation
Remind your employee the benefit
they get.
ENVIRONMENT1. Learning Environment :- Certification
for higher studies.
2. Supportive Environment : - Flexible
hrs. dependent care vacation alternate work
schedules.
3. Work Environment :- Efficient
manager supportive co-worker, challenging
work, involvement in decision making, clarity
of work and responsibilities and recognition.
GROWTH
1.Work Profile.
2. Personal Growth.
3. Training and development
RELATIONSHIP
1. Relationship with immediate
manager.
2. Relationship with colleagues.
3. Promote an employee based
culture.
SUPPORT
1. Providing feedback.
2. Recognition and reward.
3. Counseling.
4. Providing Emotional Support.
EMPLOYEE RETENTION STRATEGIES
1. Make wiser choices when hiring
employee.
2. Communicate effectively with your
employee.
3. Empower the employee.
4. Make them realize they are valuable
for organization.
5. Have Faith in them , trust & respect
them.
6. Provide information & knowledge.
7. Give feedback on performance.
8. Recognize & appreciate their
achievement.
TOP 15 DRIVER TO RETAIN THEIR EMPLOYEE .
1. Exciting work & challenge.
2. Career growth Learning & Development.
3. Working with great people &
Relationship.
4. Fair Pay
5. Supportive management /great boss.
6. Being Recognized , valued & Respected.
7. Benefit
8. Meaningful work making a difference &
contribution.
9. Pride in organization its mission and
product.
10. Great work environment & Great culture.
11. Flexibility
12. Autonomy, Creativity and a sense of
control.
13. Job security & Stability
14. Location
15. Diverse changing work assignment.
ORGANIZATION CULTURE MUST BE TO RETAIN THEIR
EMPLOYEELeadership
Commitment
Employee Engagement
Inform
Reporting
Learning
Adaptability
Justness
Organization
culture
MANAGER ROLE IN RETENTION
1. Creating a motivating environment.
2. Standing up for the team.
3. Providing coaching.
4. Delegation.
5. Extra Responsibility.
BUT DON’T FORGET:-
What you Get
Reliability
Enthusiasm
Cooperation
WHAT EMPLOYEE WANT
MAINTAINERS :-
Working condition
Company policies
Job Security
Pay and benefits
Relationship with co-worker
Supervision
Status
MOTIVATIONAchievement
Recognition
Satisfying work
Responsibity
Advancement
Growth
Good Wages
Interesting work
Promotion and growth in the
organization.
Personal Growth in the organization.
Personal loyalty to employees.
Good working condition.
Tactful discipline.
CAUSES OF EMPLOYEE DEMOTIVATION :-
Lack of appreciation
Too much work
Lack of clarity in work
Favoritism
Mistrust
Miscommunication
HR. DEPT. ROLE IN RETENTION
1. Give infrastructure facilities to
ensure that employee give their best.
They can make employee friendly
policies process in procedure to ensure
that employee grow in organization.
They can appreciate employee work.
They can ensure proper communication
process take place and make sure that
employee are heard.
They can give regular feed back and
Recognition.
They can give training to boss if his
management is not good.
CONCLUSION :-
The process of retention is not easy as it seems.
There are so many tactics and strategies used
in retention of employee by the organization.
The basic purpose of these strategies is to
increase employee satisfaction boost employee
moral hence achieve retention.
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