to Increase Employee Retention? Strategies & Benefits
MAKES EMPLOYEES LEAVE? Employees
do not leave an organization without any significant reason.
There are certain circumstances that lead to their leaving
the organization. The most common reasons can be:
1. Job is
not what the employee expected to be: Sometimes the job
responsibilities donít come out to be same as expected by
the candidates. Unexpected job responsibilities lead to job
2. Job and person
mismatch: A candidate may be fit to do a certain type of job
which matches his personality. If he is given a job which mismatches
his personality, then he wonít be able to perform it well and will
try to find out reasons to leave the job.
3. No growth opportunities:
No or less learning and growth opportunities in the current
job will make candidateís job and career stagnant.
4. Lack of appreciation:
If the work is not appreciated by the supervisor, the employee feels
de-motivated and loses interest in job.
5. Lack of trust
and support in co-workers, seniors and management: Trust is
the most important factor that is required for an individual to
stay in the job. Non-supportive co-workers, seniors and management
can make office environment unfriendly and difficult to work in.
6. Stress from
overwork and work life imbalance: Job stress can lead to work
life imbalance which ultimately many times lead to employee leaving
Better compensation packages being offered by other companies may
attract employees towards themselves.
8. New job offer:
An attractive job offer which an employee thinks is good for
him with respect to job responsibility, compensation, growth and
learning etc. can lead an employee to leave the organization.
FOR EMPLOYEE RETENTION
The basic practices which
should be kept in mind in the employee retention strategies
1. Hire the right people in
the first place.
2. Empower the employees: Give the employees the authority
to get things done.
3. Make employees realize that they are the most valuable
asset of the organization.
4. Have faith in them, trust them and respect them.
5. Provide them information and knowledge.
6. Keep providing them feedback on their performance.
7. Recognize and appreciate their achievements.
8. Keep their morale high.
9. Create an environment where the employees want to work
and have fun.
TO INCREASE EMPLOYEE RETENTION
1. Open Communication: A culture
of open communication enforces loyalty among employees. Open communication
tends to keep employees informed on key issues. Most importantly,
they need to know that their opinions matter and that management
is 100% interested in their input.
Reward Program: A positive recognition for work boosts
the motivational levels of employees. Recognition can be made
explicit by providing awards like best employee of the month
or punctuality award. Project based recognition also has great
significance. The award can be in terms of gifts or money.
Development Program: Every individual is worried about
his/her career. He is always keen to know his career path
in the company. Organizations can offer various technical
certification courses which will help employee in enhancing
Based Bonus: A provision of performance linked bonus can
be made wherein an employee is able to relate his performance
with the company profits and hence will work hard. This bonus
should strictly be productivity based.
facilities: Recreational facilities help in keeping employees
away from stress factors. Various recreational programs should be
arranged. They may include taking employees to trips annually or
bi-annually, celebrating anniversaries, sports activities, et al.
6. Gifts at Some
Occasions: Giving out some gifts at the time of one or two festivals
to the employees making them feel good and understand that the management
is concerned about them.
Writer: MONIKA SAH, MBA Student [email protected]
Also Read: Importance
of Employee Retention