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Improving Employee Retention in a CompanyBY: Muhammed Haris | Category: Others | Post Date: 2009-08-17
Retention of employees is a difficult task for the Management and Human Resource department in any company. Employees are constantly looking for their career growth and it is important to keep all the trained and important staff to continue to work for the company. One of the main reasons employees switch job is to get a good increment in their salary and often a better position too. Infact many employees switch jobs too often, more than they should. These experienced and qualified employees are the true assets of an organization. Employee retention is also important because a new employee has to go through significant training, attain the knowledge about working environment & policies, personal and professional relationship with other fellow employees and most important hiring a new employee costs a lot of money to the company. Experienced employees generally hold many responsibilities in a team such as training the newly joined employees, mentoring the juniors, managing the teams, contributing towards the development of the team, finding new improvements in the team etc. Moreover they hold lot of knowledge related to the core processes. So when they leave their team to go for better paid opportunities, it is very difficult for a company to recover from this loss. "Employee Retention" is even a dedicated course in Human Resource Management courses. It is important to understand that retaining an employee goes much beyond the basic salary. Other things that are equally important are health benefits, perks, bonuses, working conditions, respect for personal life, office politics, office games & entertainment, vacations, stress level and much more. Employers can improve retain the employees by adopting some the below measures. 1. Good salary increments have to be given to employees considering the amount other companies would pay to hire these experienced employees. There will significantly lessen the scope of employees quitting for better paid offers from other companies. 2. Employers should give career growth opportunities to all the employees. Giving higher designations, rewards or better training to help them adapt to the latest technology will also help significantly. Instead of only thinking about self-interest, employers should find the interest of the employees too. They should offer employees free guidance and opportunity to move higher within the company. If nothing else is possible, employers should offer employees option to take part time classes and employers should reimburse their tuition fee. These small benefits go a long way. 3. There should be a friendly working environment in any company. Any conflicts should be resolved immediately. 4 Office games and fun are equally important. Apart from indoor office games, team outing should be arranged regularly (like picnic). 5. Suggestions from the employees should be taken seriously. Employers should bring the sense of belongingness within the employees. 6. Yoga lessons during lunch hours is a great way to bust stress among employees. 7. Weekend/pizza parties is a great motivation for employees who work hard on weekends or late evenings. 8. Employees should be offered good health insurance. 9. Having a small gym in the office will help to keep employees in a good shape. 10. Good referral bonuses should be given if an existing employee helps to hire a new person for the company. 11. Genuine personal problems of the employee should be given importance. 12. Flexible working hours is an important factors for employee retention. 13. Employees should not be forced to stay longer hours, even if they complete their work before time. I hope the above tips would help in the improving retention of the employees in an organization. Article Source: http://www.saching.com About Author / Additional Info: Additional Articles: * Why do Indian students fly abroad for higher studies? * New Album - THE RAREBREED (Tracy Haynes) * What every home owner needs to know of home mortgage rates * THE BENGAL BRIGADE - Yesterday and Today | Famous Bengalis * Essential Online MLM Teaching For Today's Market Does this article violate or infringe on your copyright ? It is a violation of our terms for authors to submit content which they did not write and claim it as their own. If this article infringes on your copyrights, then use our Contact us form with the detailed proof of infringement along with the offending article's title, URL and writer name. If you do not hear back from us then contact us again in another 10 days. Thank you. Comments on this article: (0 comments so far) * Additional comments are now closed for this article *
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