Good Practices of Retention Strategies
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Transcript of Good Practices of Retention Strategies
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Good Practices of Retention Strategies to Keep Employees
VOLUTIONIZING RECRUITMENT AND RETENTION 2015 CapSquare, Prince Hotel & Residence March 24 & 25
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Contents
Good Practices of Retention Strategies to Keep Employees
7 hidden reasons why employees leave their organizations
Good practices of retention strategies local and foreign companies with real life examples
Employee of Choice model to enhance retention
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What are good retention strategies to keep employees?
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BACKGROUND
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Employee Retention
Leigh Branham
Saratoga Institute of Research
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Background
• Saragato Institute is part of PwC. World leader in exit interview and employee commitment survey
• Saragato Institute maintained a 5 years of database of 19700 of exit and employee surveys from 1999-2003
• Exit interview of 3149 employees
• Wide range of industries
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Guessing
Reasons Percentage
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REASONS OF LEAVING
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65 Reasons
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Why Employees Are Leaving?
Reasons Percentage
Too few growth and advancement opportunities
16
Lack of support by and respect from supervisor 13
Compensation 12
Job Duties Boring and unchallenging 11
Lack of leadership skills by supervisor 9
Work Hours 6
Unavoidable reasons 5
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PEOPLE DO NOT LEAVE COMPANIES, THEY LEAVE BAD BOSSES
Reasons Percentage
Too few growth and advancement opportunities
16
Lack of support by and respect from supervisor 13
Compensation 12
Job Duties Boring and unchallenging 11
Lack of leadership skills by supervisor 9
Work Hours 6
Unavoidable reasons 5
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Energy to Develop Leadership Development
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GOOD PRACTICES
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Good Practices
To Match Expectations with Reality
Select the Right Talent for the Job
To Provide Coaching and Feedback
To Provide Career Advancement and Growth Opportunities
To Make Employees Feel Valued and Recognized
To Reduce Stress from Work-Life Imbalance and Overwork
To Inspire and Confidence in Senior Leaders
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Retention Good Practices
To Provide Career Advancement and Growth OpportunitiesCareer Development Weekly Department Meeting1 On 1
To Make Employees Feel Valued and RecognizedMotivation VoucherCorporate StrategyAnnual Employee Survey Job Title Changes
To Reduce Stress from Work-Life Imbalance and OverworkPfizer – FCW
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PAYPAL GLOBAL OPS
PULSE FINDING
Career Development
Job Title
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BUSINESS CONTEXTSETTING THE
SCENE
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TEAM COACHING 1 HOUR
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New Job Titles -Talent Retention
Shanghai
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Carsem
• Festive
• Team Bonding
• Communicate Strategies regularly
• Gemba Walk
• Leader-teach-leaders
• Team Building
• Supervisor Development
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22
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RETENTION APPROACHES
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Four Fundamental Human Needs
● The need for trust.
● The need to have hope.
• The need to feel a sense of worth
● The need to feel competent.
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To Match Expectations with Reality
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Select the Right Talent for the Job
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To Provide Coaching and Feedback
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To Provide Career Advancement and Growth Opportunities
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To Make Employees Feel Valued and Recognized
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To Reduce Stress from Work-Life Imbalance and Overwork
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To Inspire and Confidence in Senior Leaders
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EMPLOYEE OF CHOICE STRATEGIES
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Employee of Choice
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IMPACTS
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ONE LAST THING
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Corporate Culture
•
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Four Corporate Culture
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