Retention ppt
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This document discusses the importance of employee retention over recruitment. It defines retention as an organization's ability to keep employees, and recruitment as finding new employees. Reasons employees leave include lack of growth, pay, recognition and poor leadership. Retention is important to avoid costs from turnover like losing knowledge, disrupting customers, and causing more resignations. Retaining existing staff provides clear skills and fit while avoiding rehiring expenses. Overall, retaining current talent provides financial benefits like skilled labor and customer service over an unknown new hire.
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Retention ppt
- 1. RETENTION IS BETTER THEN RECRUITMENT BY: SAVITA
- 2. "A bird in the hand is worth two in the bush"
- 3. What is Retention? • Employee retention refers to the ability of an organization to retain its employees. Or Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time.
- 4. What is Recruitment? Recruitment is a process of searching for prospective employees and stimulating them to apply for jobs in the organization.
- 5. Why do Employees Leave ? Leave an organization out of frustration Constant friction with their superiors or other team members. Low salary Lack of growth prospects Lack of motivation Lack of recognition Lack of teamwork
- 6. Lack of tools and resources Excessive workload Lack of training Poor senior leadership Poor communications Poor management
- 7. Why is retention so important? • The Cost of Turnover • Loss of Company Knowledge • Disruption of Customer Service • Turnover spirals into more turnover
- 8. Reasons of Retention • Existing employee skills, talents, values, aptitude, commitment and contribution is known better based on performance • Potential of new employee, sometimes, may be a myth. • Existing employees cultural fit is judged and tested • Existing employees aspirations and expectations are clear.
- 9. • Existing employees has already completed adjustment stage and is in contributing and performance stage. • Existing employees is aware of company and community environment and climate • There won’t be further cost of recruitment, relocation and training, in case of existing employees.
- 10. The Advantages of Employee Retention • Employees are an organization's intellectual asset that is responsible for the day-to-day business operation. • Employee retention is a financial gain for organizations. • Acquiring Talent • Training and Development • Skilled Labor Force • Impact on Customer Service
- 11. Known devil is better than unknown angel
Notes de l'éditeur
- is certainly true for service clubs. It's true not only because it takes less effort to keep a member than find a new member, but also it is less expensive to retain a member than recruit a new one
- . Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period). However, many consider employee retention as relating to the efforts by which employers attempt to retain employees in their workforce. In this sense, retention becomes the strategies rather than the outcome.
- Poor management—uncaring and unprofessional managers; overworking staff; no respect, not listening, putting people in wrong jobs; speed over quality; poor manager selection processes.Lack of career growth and advancement opportunities—no perceivable career paths; not posting job openings or filling from within; favoritism or unfair promotions.Poor communications—problems communicating top-down and between departments; after mergers; between facilities.Pay—paid under-market or less than contributions warrant; pay inequities; slow raises; favoritism for bonuses/raises; ineffective appraisals.Lack of recognition—that says it all.Poor senior leadership—not listening, asking, or investing in employees; unresponsiveness and isolation; mixed messages.Lack of training—nonexistent or superficial training; nothing for new hires, managers, or to move up.Excessive workload—doing more with less; sacrificing quality and customer service for numbers.Lack of tools and resources—insufficient, malfunctioning, outdated, equipment/supplies; overwork without relief.Lack of teamwork—poor coworker cooperation/commitment; lack of interdepartmental coordination.
- Employees are an organization's intellectual asset that is responsible for the day-to-day business operation. Although retaining competent employees in an organization generates goodwill in the work force, it also has a positive effect on the product or services a company offers. Employee retention is a financial gain for organizations.