2. What is employee retention
Employee retention is a process in which the
employees are encouraged to remain with the organization
for the maximum period of time. Employee retention is
beneficial for the organization as well as the employee.
3. reasons for 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
Perceived benefits from another
organization
Perceived benefit from personal business
Family influence
Medical reasons
4. Present scenario of employee
ATTRITION
Leaving of an organization for more
pay.
Running away from
responsibilities.
Measures to increase employee
satisfaction will be expensive
5. 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.
Resignations are quite infectious.
There is loss of knowledge
Relationship with customers is affected.
higher retention rate helps to build goodwill
of the company
6. Retention Target Group
High
Risk of
Departure Let Go Re-Recruit
Turnover
Intention
Don’t Care Take Care
Low
Low Employee High
Value
7. HOW TO MANAGE EMPLOYEE RETENTION
This is the three stage process
Identify the cost of employee turnover.
Understand why employee leave (exit interview).
Implement retention techniques.
8. Increase Employee Engagement
Motivate Employees
Implement a well-designed assessment
and selection process
Recognition of Performance
9. Focus On Team Building
Communicating with Employees
Implement programs for employee
training and development
10. Manager’s role in retention
Creating motivating environment
Standing up for the Team
Providing coaching
Delegation
Extra Responsibility
Focus on future career
11. managers attitude
Explain why.
Show that you care.
Listen before you speak.
Say what you mean and mean what you say.
12. 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".
13. The success or failure of
an organization is
increasingly
determined by its ability to
keep its best people.
