Current Innovative Retention Strategies

byDipshree

The Employee Retention is the process in which employees are encouraged to stay remain in the organization or the maximum period of time or until the completion of project.

Employee Retention

Employee leave Organization

Job is not what employee expected!Stress of overwork!No growth opportunities!Lack of appreciation!Lack of trust and support!Compensation s!New job offers!

Eg. 1)People who work in Recruitment Firm or consultancy or Small scale company . 2) BPO Employees.

In small company and recruitment firm less manpower as well as targets are more. Stress are more achieve work targets in less time.

Environment!Growth!Compensation!RelationshipSupport

Employee Retention Involves Five Major Things

Basic Strategies expected by Employee

Explore innovative Strategies

* Fair offer and competitive salaries * Train the front line supervisors, managers and administrators* Clearly define role and responsibilities* Provide adequate advancement opportunities* Offer retention bonuses instead of sign on bonuses.* Make some one is accountable for retention * Conduct employee satisfaction survey* Make room for fun* Provide a variety of assignment* Communicate openly* Encourage learning * Be flexible* Stress quality* Offer growth* Make it friendly place.* Show them the money* Give them a plan* Make room for Fun* Develop an effective orientation programme * Show that employee you have value of them

Importance of new strategies

Productivity and Efficacy Increases.

Company turnover is reduce.

Attitude of Employee towards organization is Optimistic.

You Can’t Build a Business Without Consistency.

Existing employee’s skills, talent, and values are known to the organization.

Existing employee’s cultural fit, performance, attitude, etc. are already judged.

Existing employee’s aspirations and expectations are clear

Achieve company targets within deadlines Mission and goal of company achieve successfully

Interruption in the customer service!Regaining the efficiency!

Conclusion

The basic purpose of these strategies is to increase the employee satisfaction boost employee moral and hence achieve employee retention.

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References

http://www.yourarticlelibrary.com/human-resource-development/employee-retention-benefits-methods-and-retention-management-strategies/32365/

www.Citehr.com https://www.officevibe.com/blog/importance-employee-

retention https://

www.linkedin.com/pulse/importance-employee-retention-business-organization-fareed

http://www.managementstudyguide.com/importance-of-employee-retention.html

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