retention strategies in mindtree

RETENTION STRATEGIES

Presentation By:- Group 5

MEANING

Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time.

• MindTree Limited, formerly known as MindTree

Consulting Limited is a mid-sized

international information technology (IT)

consulting and implementation company.

• It operates in two units: production engineering

services and IT services.

• MindTree was started in 1999 by ten industry

professionals from Cambridge Technology

Partners, Lucent Technologies, and Wipro

MINDTREE

"Always Give Value To The Employees"

Team Organiation05 RETENTION STRATEGY OF MINDTREE LTD.

1nd strategy:- Offer

compensation

2nd strategy:- Train your front-

line, managers and

administrators.

3rd strategy:- Offer retention

bonus

4th strategy:-Teamwork and cross

functional team

5th strategy:- Fun is must

1st Strategy:- OFFER

COMPENSATION

"Attractive and competitive: fair

compensation alone does not

guarantee employee loyalty, but

offering bellow-market salaries making

it much more likely that employees will

look for greener pastures"

05 RETENTION STRATEGIES OF MINDTREE

2rd Strategy:- TRAINING YOUR FRONT-LINE,

MANAGERS AND ADMINISTRATORS.

• It can’t be said repeatedly that people stay or

leave because of their bosses and not the

companies.

• Create a safe environment and process for

employees to bring up

• Improve manager’s leadership,

communication and interpersonal skills

through coaching, training and feedback

3th Strategy:- OFFER RETENTION BONUS

• Mandatory vacation time after three, five or

ten years.

• A paid membership to a local club after two

years, and full repayment for the cost of the

employee’s formal dress

• Give employees a choice of reward

• Increase the longevity of their reward

4th Strategy:- TEAMWORK AND CROSS

FUNCTIONAL TEAM

• Make sure everyone understand the

department’s purpose, mission on goal

• Rotate leadership responsibility depending on

their employee’s ability and need of the team

• Involve employees in decision making

• They encourage team members to show

appreciation to their colleagues for superior

performance or achievement

5th Strategy:- FUN IS MUST

• Celebrate successes and recognition of

employees

• Lunch, birthday parties, employee picnics

and creative contests will help remind

people that an organization is a great

place to work

• The company organize culture programs

as and when possible but most of the

time, once in a quarter, in which all the

employees are given an opportunity to

display their talent in skits, singing, acting,

dancing, and sports programs such as

cricket, football, etc.