The basic step of employee retention is employee satisfaction, as they are no longer employees, but are Internal Customers to the organization. A strong association exists between employee retention and the quality of service delivered by the Organizations. If an employee feels sidelined or not getting due respect/returns, discord is unavoidable. Whenever talented employee leaves the organization it is not the employee but the organization who suffers the loss. The employee is never at loss because he being a performer gets better placement in a short duration but it take huge cost/time to the company to find a better/compatible replacement against that employee.
Loss Analysis Cost involved in losing a talented employee.
- There is the cost involved in finding a replacement.
- There is cost of training the replacement.
- There is cost of not having someone to do the job in the meantime.
- The loss of hold the person have on the workflow and processes
- The loss of morale in co-workers.
- The loss of trade secrets this person may now share with other
- A person leaving an organization becomes its brand ambassador, for better or for worse
What employees want?
A universal truth is that every human being needs to be valued and same applies to the employees. Whether it is an employee or a friend or a family member, when a contribution is made, recognition is what one seeks. When an employee is contributing his/her nine hours a day to the organization, he has some expectation that succeed the salary cheque at the end of the month. He wants to be getting acknowledged that, he matters and makes a difference. Also the financial component too plays a major role because at the end of the day if that's not there then he feels that he has not been really been recognized for his worth?
I completely agree with this point Vidhyaji, Years of business research identified that motivation is the best key to retain employees. “Every individual is tied up with emotions and they are ready to die for others,” say antony Lee, editor HRMA. A survey showed that 46% employees quit job as their reporting managers don’t respond well, they fails to analyze WHAT EMPLOYEES WANT. To retain talent / employees in an organization or to build/ designing an effective organization and healthy workplace employees should get Elbow room for making decisions. Employees need help and respect from their co-workers. In an environment where "one person’s gain is another’s loss," everyone loses. People seek a job that leads to a desirable future for them. This isn’t necessarily a promotion but a career path that will continue to allow personal and professional growth and learning. Proper work distribution is a second key, popular quote: “Practice makes man perfect” is very true, nobody is born perfectionist, and the more people spend time on project the more they gain knowledge and the time when projects are in growing stage, employees are shifted to other projects. This ends the growing cycle and starts again from 0. Opportunity to learn on the job and it occurs when people are able to set goals, meet challenges, and get feedback on their strengths and areas of growth.
ReplyDeleteEmployees are robot and the key is with the motivator only. In most of the organization it is found that 70% of Top level Management is not informed about the cases by Middle level management. Every time employees leave organization with a reason and if management studies it properly they will get the solutions. It is easy to get new employees but at the same time is necessary to remove badmouthing from an organization. It is found that mostly such factors are in those employees who don’t have adequate work to do in 9 hours schedule. It is very easy to pick up those groups and put them in some development activates with short duration targets. “An organization can be successful with below average employees,” said by M. Hille, Editor- HRCM.