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Human Resource Management

  1. PRESENTED BY: Himanshu Singh
  2. Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project. Employee retention is beneficial for the organization as well as the employee. reasonS for increasing employee attrition if they are either unhappy with their job, or feel that they have not got enough from the company. monotonous tasks  odd working hours  lack of growth  jobs have also become easily accessible.
  3.  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, his dedication and work efficiency etc.  Resignations are quite infectious.  There is loss of knowledge  Relationship with customers is affected.. higher retention rate helps to build goodwill of the company
  4. Increase Employee Engagement Ensure that the employees have a clear understanding of their roles and responsibilities in the organization. Employees can also be offered to head larger teams, be involved in forecasting and goal setting for the company, and also be allowed to make more meaningful decisions at their own level  Ensure that the employees feel valued for their contributions, and have high job satisfaction. Increasing employee engagement helps to develop emotional connection, enthusiasm among the employees.
  5. MOTIVATE EMPLOYEES  offer the employee perks and incentives, along with added frills like employee stock options, bonuses and other monetary gains. give an employee a chance to grow within the organisation.  show your employees that you value them and they are irreplaceable. provide employees with flexible working hours, work from home facility, and education at work. to involve and support employees in achieving organizational goals. Find out what are the things that demotivate employees.
  6. Implement a well-designed assessment and selection process Include behavioral assessments and structured behavioral interviewing techniques ensure that the skill set of the people match with the available profile. identify the required traits, competencies, skill- sets and personality-related competencies, if any. assess a potential employee’s communication skills. understand a candidate’s level of expertise in the context of the job being applied for. hold employees satisfaction surveys time to time.
  7. Recognition of Performance openly recognizing the performance, initiative, and good work increases the morale and motivates the employee to work more productively. cash benefits like extra payment for extra load bearing, regular increments, and other cash benefits on specific occasions.  Non cash benefits like job rotation, skill enhancement, etc., can also be exercised. Appreciating the performance.
  8. Focus On Team Building Promoting team culture helps to actively involve all employees in achieving the goals and in overall success of the organization. Team building promotes team work and team effort that help them to tackle work pressure. help to reduce workplace conflicts between team members as they work in a team. provide a competitive advantage to organization.
  9. managers attitude Explain why. Show that you care. Listen before you speak. Say what you mean and mean what you say. 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".
  10. Communicating with Employees It will keep the management informed about whether he is happy in the job or not.  It will also keep them keyed in into the fact whether an employee is planning to leave. Improve manager and employee relationships Show your employees you care about their lives both inside and outside of the office. Ensure that the environment in which they are working is one that encourages and motivates
  11. Implement programs for employee training and development Shows willingness of an organization to develop their people . Providing opportunities for improvement and growth. It makes an employee more loyal towards an organization It makes the employees mobile & versatile It helps employees to gain acceptance OTER TECHNIQUES Exit interviews Retention interviews Focus groups and surveys
  12. Factors essential for making retention techniques effective • Clarity of role• Good Managers/Supervisors • Open and transparent culture • Talent management and skill utilization • Learning and growth opportunities • Communication and contact • Employee appreciation
  13. CONCLUSION Employees are a valuable asset to any organization. It is essential to protect this vital resource as talented and motivated employees play a crucial role in overall growth and success of the organization. Focusing on employee retention techniques can positively impact the organization as it increases employee productivity, performance, quality of work, profits, and reduces turnover and absenteeism.  Effectively creating an engaging environment, recognizing good performance, giving benefits and rewards, promoting mutual respect are some of the ways for effective employee retention.