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| Author: Antony Xavier |
In today's Scenario
Retention has become very important and challenging. Many organizations react
to the retention issue by addressing it only when a problem arises. When they
do react, they often develop enormous incentive packages or promote to entice
key employees to remain onboard. This creates a financial burden, as it costs
the organization more to retain these employees than to benefit from them. A
continuous improvement process cycle can help focus on consistently bettering
the current talent retention situation. The below mentioned strategies are very
simple and not so costly.
♦ Create
Trust: Organizations that have trust among employees are
usually successful, those that don't frequently are not
♦ Give
and Receive Feedback
♦ Involvement:
People
do not want to be just treated as a number. Most of them enjoy belonging to a
team and participating in teamwork.
♦ Recognition:
It
has to be meaningful and specific.
♦ Career
Development: Hold career development discussions with
employees. Set the Objectives clear.
♦ Onboarding
and Induction: This is where most of them fail. Both the
Onboarding and the Induction process has to be well organized.
♦ Communication:
Properly
done, communication with your staff will provide you with the insights you need
in order to know how your employees feel about working for your business.
These simple elements can
provide you with a retention strategy capable of producing amazing results. You
may even have some of them already in place. The key is to make sure you've
integrated all the elements into a strategy for retaining employees that's
grounded in a genuine commitment to serving your customers and employees well
over the long haul.
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