Employee Retention and Retention Strategies
Dr. Chadaram Satyanarayana,
Yadavrao Tasgaonkar School Of Business Management,
Bhiwpuri Road, Karjat,
Employee retention involves taking measures to encourage employees to remain in the organization for the maximum period of time. Corporate is facing a lot of problems in employee retention these days. Hiring knowledgeable people for the job is essential for the employer. But retention is even more important than hiring. There are many organizations which are looking for such employees. If a person is not satisfied by the job he’s doing, he may switch over to some other more suitable job. In today’s environment, it becomes very important for organizations to retain their employees.
The top organizations are on the top because they value their employees and they know how to keep them glued to the organization. Employees stay and leave organizations for some reasons.
The reason may be personal or professional. These reasons should be understood by the employer and should be taken care of. The organizations are becoming aware of these reasons and adopting many strategies for employee retention.
Following are the ten most important principles for managing people in a way that reinforces employee empowerment, accomplishment, and contribution. These management actions enable both the people who work with you and the people who report to you to soar.
1. Share leadership vision:
Help people feel that they are part of something bigger than themselves and their individual job. Do this by making sure they know and have access to the organization’s overall mission, vision, and strategic plans.
2. Share goals and direction:
Share the most important goals and direction for your group. Where possible, either make progress on goals measurable and observable or ascertain that you have shared your picture of a positive outcome with the people responsible for accomplishing the results.
3. Trust people:
Trust the intentions of people to do the right thing, make the right decision, and make choices that while
4. Provide information for decision making:
Make certain that you have given people, or made sure that they have access to, all of the information they need to ma
5. Delegate authority and impact opportunities, not just more work:
Don’t just delegate the drudge work; delegate some of the fun stuff, too. You know, delegate the important meetings, the committee memberships that influence product development and decision making, and projects that people and customers notice. The employee will grow and develop new skills. Your plate will be less full so you can concentrate on contribution. Your reporting staff will gratefully shine- and so will you take thoughtful decisions.
6. Provide frequent feedback:
Provide frequent feedback so that people know how they are doing. Sometimes, the purpose of feedback is reward and recognition. People deserve your constructive feedback, too, so they can continue to develop their knowledge and skills.
7. Solve problems: Don’t pinpoint problem people:
When a problem occurs, ask what is wrong with the work system that caused the people to fail, not what is wrong with the people. Worst case response to problems? Seek to identify and punish the guilty.
8. Listen to learn and ask questions to provide guidance:
Provide a space in which people will communicate by listening to them and asking them questions. Guide by asking questions, not by telling grown up people what to do. People generally know the right answers if they have the opportunity to produce them. When an employee brings you a problem to solve, ask, ” what do you think you should do to solve this problem?” Or, ask, “what action steps do you recommend?” Employees can demonstrate what they know and grow in the process.
9.Demonstrate you value people:
Your regard for people shines through in all of your actions and words. Your facial expression, your body language, and your words express what you are thinking about the people who report to you. Your goal is to demonstrate your appreciation for each person’s unique value. No matter how an employee is performing on their current task, your value for the employee as a human being should never falter and always be visible.
10. Help employees feel rewarded and recognized for empowered behavior:
When employees feel under-compensated, under-titled for the responsibilities they take on, under-noticed, under-praised, and under- appreciated, don’t expect results from employee empowerment. The basic needs of employees must feel met for employees to give you their discretionary energy, that extra effort that people voluntarily invest in work.