Employee retention means to reduce turnover and improving the productivity in the workplace. It is a primary method of measure to know the health of the organization. Also, the cost of recruitment, training and development when a middle level manager leaves is almost 100 % of their salary whereas the retention of the employee will be far less.
And how to retain them, here are some tips that will help employee from leaving the organization.
- Have a clear set of what is expected out the employee.
- Quality of supervision
- Given them Clarity of their earnings
- Provide feedback on the performance
- Create a framework with in which employee feel that they can succeed
- Encourage employee to speak freely on the matter relating to the organization
- Always make sure that employees talents and skills are used
Additional, these are some important factors to create and healthy environment
- Perception of fairness and equitable treatment
- Frequent opportunities to learn and grow in their career, knowledge and skills
- Never threaten an employee's job and Income
- Finally Reward them and recognize them (here monetary and non-monetary incentive are important)
Sumit Jaswal
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