Presented by, SOWMYA C.U.

Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project.

Employee retention is beneficial for the organization as well as the employee.

“ We cant stop employees from leaving unless we have a plan to make them stay!”

Employer-employee relation is like a “marriage”.

Retention process is related to successful marriage

You need 2 convince your partner, hw you are different from other boys/girls.

What type of future that person will get if he/she decides 2 marry you.

You need 2 convince the person as what your company is having that others are not having.

What is your competitive edge? What type of future or growth that person will get if he decides 2 join ur company.

No growth opportunities Lack of appreciation. Lack of trust and support. Stress from overwork. New job offers.

Top 3 reasons why talent says “I quit”

Dissatisfaction with superiors

Inadequate compensation and benefits

Lack of career development opportunities

1.Way u welcome ur new employee.

2.The way his team-members treat him.

3.Information that you provide to him.

4.Which senior mgrs interact with him.

Bonus.

Health insurance.

After retirement.

Miscellaneous compensation.

Remind your employees the benefits they get.

1.Learning environment certifications n provisions 4 higher studies.

2.supportive environmentflexible hrs, dependent care, vacations, alternate work schedules.

3.work environmentEfficient managers, supportive co-workers, challenging work, involvement in decision making, clarity of work and responsibilities and recognition.

1.Providing feedback.

2.Recognition and rewards.

3.Counseling.

4.Providing emotional support.

1.Work profile

2.Personal growth

3.Training and development

1.Relationship with immediate manager

2.Relationship with colleagues

3.Promote an employee based culture

While managers predicted the most important motivational aspect of work for people would be money, personal time and attention from the manager was cited by employees as most rewarding for them at work.

American Psychological Association Survey

About.Com Poll

Good coaching from and interaction with my boss 36%

Good compensation and benefits package 18%         

Opportunity to learn new skills 8%                   

Just can't seem to get motivated enough to leave ... 8%

Recognition for a job well done 7%        

Like my coworkers 6%       

Respectful treatment 5%      

Challenging, rewarding, interesting work 3%    

Mission of the company 3%    

Talent and vision of company management team 2%   

retention is important because:

To make good people stick in the organization.

Talented people are always in demand.

Continuously hiring new employees and loosing the old employees is the worst that can happen to an organization.

It’s always good to have trustworthy old employees in the organization. It brings stability to the organization.

Retaining old employees provide a learning culture for the new hires.

The old employees have knowledge of the processes of the organization and their valuable experience.

Retention helps create goodwill of the organization in the market.

1.creating a motivating environment2.standing up for the team3.providing coaching4.delegation5.extra responsibility

1. Gives infrastructure, facilities to ensure that employees give their best.

2. They can make employee friendly policies, processes n procedures 2 ensure that employees grow in organization.

3. They can appreciate employees work.

4. They can ensure proper communication process takes place and make sure that employees are heard.

5. They can give regular feedback and recognition.

6. They can give training to boss, if his mgmt style is not good.

Make Wiser Choices when Hiring Employees.

Communicate Effectively With Your Employees.

Empower the employees.

Make them realize that they are valuable for Organization.

Have faith in them , trust & respect them.

Provide Information & knowledge.

Give feedback on performance.

Recognize & appreciate their achievements.

The cost of turnover.

Loss of company knowledge.

Interruption of customer services.

Goodwill of Company.

The process of retention is not as easy as it seems.

There are so many tactics and strategies used in retention of employees by the organizations.

The basic purpose of these strategies is to increase employee satisfaction, boost employee morale hence achieve retention.