The staff is demotivated and your talented employees are resigning!
Employees Retention is the ability to keep talented employees in the organization. Employees Turnover occurs when employees leave an organization.
Employees leave an organization for any number of reasons.
Some employee departures are voluntary (e.g., to take another job, to follow a transferred spouse, to return to their home country). Other employees’ departures are involuntary (e.g., dismissal due to poor performance or elimination of a job due to a merger or an organizational restructuring).
Developing strategies to retain high performers and reduce voluntary turnover is important because such turnover is costly. Beyond the time, effort, and monetary investment it takes to fill an open position, there are several other costs. Lost training time, lost knowledge and skills, and the potential for poor morale and productivity of other employees are all considerations.
Planning Retention Strategy: Retention strategies start with the organization’s branding and recruitment efforts and continue through the employment experience. Organizations that have a good reputation in the community, industry, and with past/current employees and customers have a better chance of attracting top talent. During the employment experience, the following principles may be useful in guiding an organization’s retention efforts:
Orientation and onboarding Programs: Together, orientation and onboarding help employees feel comfortable in a position sooner, which has the potential to result in a contribution to the organization's success sooner. It integrates new employees into the organization and prepares new hires to succeed at their jobs and to become engaged, productive members of the organization.
Clear and consistent job expectations: Employees need to know exactly what is expected of them. Unclear or changing job expectations can lead to stress and confusion. Employees may feel inadequate or unsuccessful.
Clear and fair supervision: Employees often leave an organization because of dissatisfaction with the management and supervision they received.
Clear and direct communication: Clear and direct communication about performance expectations, the potential for rewards, and performance feedback are also critical in retaining employees.
Training and development: Employees need to have the training necessary to do their jobs well.
Adequate resources: In addition to training, employees need the resources – both time and tools – to perform their jobs.
Growth and promotional opportunities: Career-oriented individuals seek opportunities to grow professionally. Without the chance to learn and try new things, talented employees tend to feel stagnant or stuck in their current positions.
Recognition: Whether it is a monetary reward, an informal thank-you for a job well done, formal recognition for accomplishment and achievement, or a celebration for success, employees needs to feel appreciated.
Perceived equity: Employees should feel that their contributions and talents are being rewarded fairly. Any sense of internal inequity in compensation, benefits and other treatment can create morale and motivation problems.
Compensation and benefits: salaries and other benefits must maintain external equity, which involves comparing an organization’s compensation levels and practices to those of other organizations that are in the same market, working in the same industry, having similar size, and competing for the same employees.
Comentarios