Employee Retention–Are You Doing Enough?
Having made an organization by putting a large amount of investment is not enough for the assuredness of its successful flourishing; it is equally important to keep it running. For that matter of fact, an employer must make serious efforts to retain talented employees with them. But it is not an easy task to cling to the employees by just giving them a lollipop. When an employee sees a better opportunity, he/she tends to move on with it, making HR job more challenging.
What makes the employees leave?
According to a research, it has been noticed that a large percent of employees leave the organization because of frustration and constant troubles with their subordinates or superiors. Likewise, in some cases the problem is insufficient salary, slow growth rate and lack of motivation which increases the urge to look for a job change. In such cases, management has to make genuine efforts to retain the employees who are an asset to the company and are effective contributors in its growth.
Along with management, line managers should also put considerable efforts to make sure that the employees are happy with their job and they get motivated constantly by new challenges and learning’s.
Handling Employee Retention
To preserve the right employee, below mentioned points are proven to be very effective which when synced with your company’s HRIS.
Provide small perks – Apart from salary, it is extremely important that small bonuses or rewards are offered whenever an individual or a team does something exceptionally good. This will motivate the employees for better performance in order to receive incentives at the end.
Decrease workplace rigidity – Rather than having rigid work timings and environment, if a company adopts flexibility, then employees are more likely to stay with the organization.
Offer more responsibilities & recognition to motivate employees – Motivating employees by providing proper recognition is something that every organization should practice. Give more responsibilities to the employees so that he feels his importance and need in the organization.
Track retention and conduct ‘stay’ interviews – Continuous tracking of employee retention should be maintained and along with conducting ‘exit’ interview, ‘stay’ interviews should also be conducted. Get to know what makes the employee to stay and what more his expectations are, which when not fulfilled will make him leave the job.
Maintain transparency in ‘employee – management’ communication – There should be a convenient and transparent way of communication so that employee does not hesitate to talk about any kind of issue with his seniors or management authorities.
These factors complies that employee satisfaction rate is directly proportional to the perks provided to them by the organization. Companies usually spend more time in deciding the pay structure for a particular role, but if considerable amount of time and resources are utilized on other small benefits then the employee quit rate will definitely come down.
(–Article also published at hrzone.com)