employee retention (od)
Post on 28-Oct-2014
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Presented By:Ashwini
veerabhadrappa
What is employee retention
Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time. Employee retention is beneficial for the organization as well as the employee.
reasons for employee attrition
If they are either unhappy with their job, or feel that they have not got enough from the company.
Monotonous tasksOdd working hoursLack of growth Perceived benefits from another
organizationPerceived benefit from personal businessFamily influenceMedical reasons
Present scenario of employee ATTRITION
Leaving of an organization for
more pay.
Running away from
responsibilities.
Measures to increase employee
satisfaction will be expensive
WHY RETENTION IS IMPORTANT
Hiring new employees requires good amount of time and money.
There is always a risk if the new employee selected will adjust to the new environment.
Resignations are quite infectious.
There is loss of knowledge
Relationship with customers is affected.
higher retention rate helps to build goodwill of the company
Retention Target Group
Let Go Re-Recruit
Don’t Care Take Care
TurnoverIntention
High
Low
Risk of Departure
Employee Value
HighLow
HOW TO MANAGE EMPLOYEE RETENTION
This is the three stage process Identify the cost of employee turnover. Understand why employee leave (exit
interview). Implement retention techniques.
EMPLOYEE RETENTION TECHNIQUES
Increase Employee Engagement
Motivate Employees
Implement a well-designed assessment and selection process
Recognition of Performance
Communicating with Employees
Focus On Team Building
Implement programs for employee training and development
Manager’s Role in Retention
Creating motivating environment
Standing up for the Team
Providing coaching
Delegation
Extra Responsibility
Focus on future career
Explain why.
Show that you care.
Listen before you speak.
Say what you mean and mean what you say.
managers attitude
Be fair.
Engage and encourage people to come up
with their own solutions.
Promote this: "You have the right to disagree,
but you should never be disagreeable".
The success or failure of
an organization is
increasingly
determined by its ability
to keep its best people.
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