Applicable approaches in employee retention

1. Techniques for Employee Retention
Dr. Elijah Ezendu
FIMC, FCCM, FIIAN, FBDI, FAAFM, FSSM, MIMIS, MIAP, MITD, ACIArb, ACIPM,
PhD, DocM, MBA, CWM, CBDA, CMA, MPM, PME, CSOL, CCIP, CMC, CMgr

2. “81% of all organisations perceive turnover
as having a negative effect on their
effectiveness.”
(Source: TalentDrain)

3. The results of a comprehensive survey indicated
that passive jobseekers would readily move
into another firm, on finding better
opportunities. Passive jobseekers are those
who are currently in positions, but if
“something caught their eyes” they would
investigate the opportunities.
(Source: Journal Register Company)

4. Retention Target Group
Let Go Re-Recruit
Don’t Care Take Care
Turnover
Intention
Employee
Value
High
Low
HighLow
Risk of
Departure
Source: Megha Kapil, Process of Retention

5. Business Case for Retention
• The cost of high staff turnover can be distressing.
• Corporate objectives require commensurate manning of
organisational positions.
• Disruption of organisational strategic thrust can be triggered by
attrition.
• Multiplier effects of a surrogate’s learning curve.
• Retention problem may give rise to loss of trade secrets to
antagonistic competitors.
• Attrition-induced delayering can bring about structural
paralysis.
• Compound stakeholder disenfranchisement can lead to loss of
core customer base.
• Continual exit of key workers can cause domino effect among
employees.
Source: Elijah Ezendu, Managing Employee Retention

6. Factors that Determine an Organisation’s
Ability to Attract and Retain Employees
External Influences
Those outside the organisation, such as the
regional labour market or overall economic
climate
Attraction
&
Retention
Organisational
Influences
Employment
programmes, policies
and the variety of other
Factors which make up
The working climate or
culture in an employer
Individual
Influences
Characteristics of
individual employees
that may indicate the
likelihood of their joining
and staying with a given
employer
Source: The Recruitment Communications Company

7. Key Drivers of Staff Turnover
• The total cost of moving into another career
• Perceived benefits from employer
• Perceived benefits from another organisation
• Perceived benefit from personal business
• Family influence
• Religious beliefs
• Personal values
• Pressure of associates and friends
• Medical reasons

8. Best Practices in Keeping and Motivating Employees
1. Develop an attractive employee value proposition.
2. Create a total reward structure that includes more
than compensation.
3. Give feedback on employee performance on a
regular basis.
4. Be flexible in terms of work-life balance.
5. Create a culture of engagement.
6. Train managers to be effective.
Source: Lisbeth Claus, Employee Retention

9. Exercise
List 10 reasons why employees stay in a firm.
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10. The Basic Reward Technique for Retention
This technique emphasizes the use of basic
rewards to stimulate employees interests and
boost loyalty.
It’s simply an ordinary employer response
devoid of systematic structures and complex
analysis.

11. Some Reward Suggestions
• Money
• Recognition
• Time off
• A piece of the action
• Favorite work
• Advancement
• Freedom
• Personal Growth
• Fun
• Prizes
Source: Michael LeBoeuf, The Greatest Management Principle in the World

12. Expectation Management
Technique for Retention
This entails managing organisations expectation
from employee on one hand and employee
expectation from the organisation on the
other hand, with the aim of keeping both
parties within reasonableness thus enhancing
the bond between them.

13. Issues in Expectation Management
• Performance Management System
• Key Performance Indicators
• Key Result Areas
• Career Path Analysis
• Independent Development Plan
• Red Tape
• Glass Ceiling
• Competitive Compensation
• Congenial Work Environment
• Mutual value

14. Myths About Employee Morale Which Prevent
Companies From Achieving Retention Success
1. People most often leave a company for more pay.
2. Incentive programmes produce long-term profits
and improve productivity and morale.
3. People don’t want more responsibility.
4. Loyalty is dead.
5. Improving employee satisfaction is expensive.
6. Employee satisfaction is fluff.
7. Supervisors are the problem.
8. My company/industry/people are different.
Source: Employee Retention Strategies

15. Employee Life Cycle Technique of Retention
This involves application of various solution
options at each stage of employee life cycle,
thereby enlivening the key touch points for
relationship enhancement between the
organisation and employees.

16. Using Employee Life Cycle Technique for Retention
Source: Retensa

17. Application of Motivational Theories
for Retention
• Maslow's Theory
• Herzberg's Theory

18. The Japanese Retention Technique
In this case, Japanese and many foreign firms
operating in Japan used the concept of job
security and a widespread promotion based
on age in service for indulging and
encouraging employees to remain till point of
final retirement.

19. Exercise
1. Differentiate basic reward technique from
expectation management technique for
retention.
2. Explain implementation of employee life
cycle technique for retention, emphasizing
why its considered best-fit.

20. Dr Elijah Ezendu is Award-Winning Business Expert & Certified Management Consultant with expertise
in Interim Management, Strategy, Competitive Intelligence, Transformation, Restructuring, Turnaround
Management, Business Development, Marketing, Project & Cost Management, Leadership, HR, CSR, e-
Business & Software Architecture. He had functioned as Founder, Initiative for Sustainable Business
Equity; Chairman of Board, Charisma Broadcast Film Academy; Group Chief Operating Officer, Idova
Group; CEO, Rubiini (UAE); Special Advisor, RTEAN; Director, MMNA Investments; Chair, Int’l Board of
GCC Business Council (UAE); Senior Partner, Shevach Consulting; Chairman (Certification & Training),
Coordinator (Board of Fellows), Lead Assessor & Governing Council Member, Institute of Management
Consultants, Nigeria; Lead Resource, Centre for Competitive Intelligence Development; Lead
Consultant/ Partner, JK Michaels; Turnaround Project Director, Consolidated Business Holdings Limited;
Technical Director, Gestalt; Chief Operating Officer, Rohan Group; Executive Director (Various Roles),
Fortuna, Gambia & Malta; Chief Advisor/ Partner, D & E; Vice Chairman of Board, Refined Shipping;
Director of Programmes & Governing Council Member, Institute of Business Development, Nigeria;
Member of TDD Committee, International Association of Software Architects, USA; Member of Strategic
Planning and Implementation Committee, Chartered Institute of Personnel Management of Nigeria;
Country Manager (Nigeria) & Adjunct Faculty (MBA Programme), Regent Business School, South Africa;
Adjunct Faculty (MBA Programme), Ladoke Akintola University of Technology; Editor-in-Chief, Cost
Management Journal; Council Member, Institute of Internal Auditors of Nigeria; Member, Board of
Directors (Several Organizations). He holds Doctoral Degree in Management, Master of Business
Administration and Fellow of Professional Institutes in North America, UK & Nigeria. He is Innovator of
Corporate Investment Structure Based on Financials and Intangibles, for valuation highlighting
intangible contributions of host communities and ecological environment: A model celebrated globally
as remedy for unmitigated depreciation of ecological capital and developmental deprivation of host
communities. He had served as Examiner to Professional Institutes and Universities. He had been a
member of Guild of Soundtrack Producers of Nigeria. He's an author and extensively featured speaker.

21. Thank You