following methods can be used to reduce attrition :_
1. Supervisor relations:
The quality of the supervision an employee receives is critical to employee retention. People leave managers and supervisors more often than they leave companies or jobs. It is not enough that the supervisor is well-liked or a nice person, starting with clear expectations of the employee, the supervisor has a critical role to play in retention. Anything the supervisor does to make an employee feel unvalued will contribute to turnover. Frequent employee complaints center on these areas.
--Lack of clarity about expectations,
--Lack of clarity about earning potential,
--Lack of feedback about performance,
--Failure to hold scheduled meetings, and
--Failure to provide a framework within which the employee perceives he can succeed.
2. Pay & benefits
Over half made changes based on exit interview information, and these included reviewing salary structures, forming employee retention committees, establishing alternative work schedules, and introducing bonus plans.
The survey also asked the HR professionals to rank the effectiveness of several retention tools. Traditional benefits apparently work the best. The respondents ranked health care benefits as the most effective retention tool, followed by competitive salaries, competitive salary increases, and competitive vacation and holiday benefits. Interestingly, some of the newer and trendier benefits did not fare as well. Based on the survey findings, the best action for employers trying to boost their retention rates is to analyze salary and benefits packages to determine if they measure up to the competition. Policies and Benefits Can Reduce Turnover
3. Corporate communications
The ability of the employee to speak his or her mind freely within the organization is another key factor in employee retention. Does your organization solicit ideas and provide an environment in which people are comfortable providing feedback? If so, employees offer ideas, feel free to criticize and commit to continuous improvement. If not, they bite their tongues or find themselves constantly "in trouble" - until they leave
4. Performance Management System
There may be very few performance appraisal exercises that are devoid of criticism of bias any subjectivity however, most of the efforts to dispel the bias and subjectivity are restricted to changing appraisal formats & systems that include switching over to techniques like 360 Degree Appraisal & Team Assessment using MBO criteria or modern approach Balanced Scorecard.
5. Organisation Policies and Strategies
No matter the circumstances, never, never, ever threaten an employee's job or income. Even if you know layoffs loom if you fail to meet production or sales goals, it is a mistake to foreshadow this information with employees. It makes them nervous; no matter how you phrase the information; no matter how you explain the information, even if you're absolutely correct, your best staff members will update their resumes. I'm not advocating keeping solid information away from people, however, think before you say anything that makes people feel they need to search for another job
6. Likelihood to stay
Your staff members must feel rewarded, recognized and appreciated. Frequently saying thank you goes a long way. Monetary rewards, bonuses and gifts make the thank you even more appreciated. Understandable raises, tied to accomplishments and achievement, help retain staff. Commissions and bonuses that are easily calculated on a daily basis, and easily understood, raise motivation and help retain staff. You can bet that work is about the money and almost every individual wants more.
7. Opportunity
Talent and skill utilization is another environmental factor your key employees seek in your workplace. A motivated employee wants to contribute to work areas outside of his specific job description. How many people could contribute far more than they currently do? You just need to know their skills, talent and experience, and take the time to tap into it. As an example, in a small company, a manager pursued a new marketing plan and logo with the help of external consultants. An internal sales rep, with seven years of ad agency and logo development experience, repeatedly offered to help. His offer was ignored and he cited this as one reason why he quit his job. In fact, the recognition that the company didn't want to take advantage of his knowledge and capabilities helped precipitate his job search
8. Recognition
A common place complaint or lament we hear during an exit interview is that the employee never felt senior managers knew he existed. By senior managers I refer to the president of a small company or a department or division head in a larger company. Take time to meet with new employees to learn about their talents, abilities and skills. Meet with each employee periodically. You'll have more useful information and keep your fingers on the pulse of your organization. It's a critical tool to help employees feel welcomed, acknowledged and loyal. .
9. Learning Organisation
Your best employees, those employees you want to retain, seek frequent opportunities to learn and grow in their careers, knowledge and skill. Without the opportunity to try new opportunities, sit on challenging committees, attend seminars and read and discuss books, they feel they will stagnate. A career-oriented, valued employee must experience growth opportunities within your organization. The easiest to solve, and the ones most affecting employee retention, are tools, time and training. The employee must have the tools, time and training necessary to do their job well – or they will move to an employer who provides them.
From India, New Delhi
11. Supervisor relations:
The quality of the supervision an employee receives is critical to employee retention. People leave managers and supervisors more often than they leave companies or jobs. It is not enough that the supervisor is well-liked or a nice person, starting with clear expectations of the employee, the supervisor has a critical role to play in retention. Anything the supervisor does to make an employee feel unvalued will contribute to turnover. Frequent employee complaints center on these areas.
--Lack of clarity about expectations,
--Lack of clarity about earning potential,
--Lack of feedback about performance,
--Failure to hold scheduled meetings, and
--Failure to provide a framework within which the employee perceives he can succeed.
2. Pay & benefits
Over half made changes based on exit interview information, and these included reviewing salary structures, forming employee retention committees, establishing alternative work schedules, and introducing bonus plans.
The survey also asked the HR professionals to rank the effectiveness of several retention tools. Traditional benefits apparently work the best. The respondents ranked health care benefits as the most effective retention tool, followed by competitive salaries, competitive salary increases, and competitive vacation and holiday benefits. Interestingly, some of the newer and trendier benefits did not fare as well. Based on the survey findings, the best action for employers trying to boost their retention rates is to analyze salary and benefits packages to determine if they measure up to the competition. Policies and Benefits Can Reduce Turnover
3. Corporate communications
The ability of the employee to speak his or her mind freely within the organization is another key factor in employee retention. Does your organization solicit ideas and provide an environment in which people are comfortable providing feedback? If so, employees offer ideas, feel free to criticize and commit to continuous improvement. If not, they bite their tongues or find themselves constantly "in trouble" - until they leave
4. Performance Management System
There may be very few performance appraisal exercises that are devoid of criticism of bias any subjectivity however, most of the efforts to dispel the bias and subjectivity are restricted to changing appraisal formats & systems that include switching over to techniques like 360 Degree Appraisal & Team Assessment using MBO criteria or modern approach Balanced Scorecard.
5. Organisation Policies and Strategies
No matter the circumstances, never, never, ever threaten an employee's job or income. Even if you know layoffs loom if you fail to meet production or sales goals, it is a mistake to foreshadow this information with employees. It makes them nervous; no matter how you phrase the information; no matter how you explain the information, even if you're absolutely correct, your best staff members will update their resumes. I'm not advocating keeping solid information away from people, however, think before you say anything that makes people feel they need to search for another job
6. Likelihood to stay
Your staff members must feel rewarded, recognized and appreciated. Frequently saying thank you goes a long way. Monetary rewards, bonuses and gifts make the thank you even more appreciated. Understandable raises, tied to accomplishments and achievement, help retain staff. Commissions and bonuses that are easily calculated on a daily basis, and easily understood, raise motivation and help retain staff. You can bet that work is about the money and almost every individual wants more.
7. Opportunity
Talent and skill utilization is another environmental factor your key employees seek in your workplace. A motivated employee wants to contribute to work areas outside of his specific job description. How many people could contribute far more than they currently do? You just need to know their skills, talent and experience, and take the time to tap into it. As an example, in a small company, a manager pursued a new marketing plan and logo with the help of external consultants. An internal sales rep, with seven years of ad agency and logo development experience, repeatedly offered to help. His offer was ignored and he cited this as one reason why he quit his job. In fact, the recognition that the company didn't want to take advantage of his knowledge and capabilities helped precipitate his job search
8. Recognition
A common place complaint or lament we hear during an exit interview is that the employee never felt senior managers knew he existed. By senior managers I refer to the president of a small company or a department or division head in a larger company. Take time to meet with new employees to learn about their talents, abilities and skills. Meet with each employee periodically. You'll have more useful information and keep your fingers on the pulse of your organization. It's a critical tool to help employees feel welcomed, acknowledged and loyal. .
9. Learning Organisation
Your best employees, those employees you want to retain, seek frequent opportunities to learn and grow in their careers, knowledge and skill. Without the opportunity to try new opportunities, sit on challenging committees, attend seminars and read and discuss books, they feel they will stagnate. A career-oriented, valued employee must experience growth opportunities within your organization. The easiest to solve, and the ones most affecting employee retention, are tools, time and training. The employee must have the tools, time and training necessary to do their job well – or they will move to an employer who provides them.
From India, New Delhi
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