Employee Retention

Monisha Syamalanathan

What do we understand by Retention

In simple terms, employee retention are all the policies and practices of the organization which motivate the employees to stick to the organization for a longer period of time.

The Fact

Employees leave badManagers

Employees leave for

other benefits

Why do employees leave?

A positive organizational culture

A good manager

Planned career growth

Sense of trust and security

Pay package at par with industry

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What keeps employees stick on to the organization

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What keeps employees stick on to the organization

A good manager

Planned career growth

Sense of trust and security

Pay package at par with industry

A positive organization

al culture

Employee Loyalty Factors

Bad Managers

Uncertainty about career

Growth

Lack of Recognition

And motivation

Lack of Open

Communication

Lack of utilization of talents and skills

Why do we need Good Managers

To maintain the best talent within the

organization

Avoid time and cost of

recruitment of new

candidates

Avoid the investment on initial training

Overcome insecurity of

other co -workers

Why emphasize on employee retention

To maintain the culture

of the organization

Reduce overwork

of employees due to lack of

resource

Prevent loss of knowledge and skill set

Loss of talent would also indireclty result in loss of

client/customer

Steps to retain employees

• Employee retention strategy should start from the day the employee joins the organization

– Positive culture of the organization from day one– Joining formalities easily done, – a warm welcome and a proper Induction which puts the new

comer at ease– Proper on the job training

• Set clear expectations and career options• Proper appraisal system and frequent feedbacks• An open communication system and transparency• Role of boss as nurturer and mentor.• Managers should be accountable for nurturing their own talent

pool

• Ensuring job security and stability• Providing flexibility• Proper recognition and reward/appreciation system• Out of the box assignments and projects apart from their

regular job