Employee Retention Strategies

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Employee Retention

Text of Employee Retention Strategies

Employee Retention Strategies

A Presentation by, Mohammed Fazil Shareef

What is Employee Retention? 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.

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Importance of Employee Retention The cost of turnover. Loss of company knowledge.

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.Interruption of customer services.Employees Retention Strategies 3

Importance

cont.

A Cos loss is a Competitors Gain

Decline in Productivity

Goodwill of Company.

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Top 15 Retention Drivers1. Exciting work & challenge 2. Career Growth, Learning & Development 3. Working with great people & relationships 4. Fair pay 5. Supportive management/great boss 6. Being recognized, valued & respected 7. Benefits 15. Diverse, changing work assignments 8. 9. Meaningful work, making a difference & contribution Pride in organization, its mission & product

10. Great work environment / culture 11. Flexibility

12. Autonomy, creativity and a sense of control 13. Job security & stability 14. Location

Source: Career Systems International.Sunday, April 28, 2013 Employees Retention Strategies 5

Employee Retention Strategies. Hire the right person Empower the employee in right place. (Autonomy)

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Right compensation for their work

Have faith & trust in them.

.Recognize & appreciatetheir achievements.Sunday, April 28, 2013 Employees Retention Strategies 7

Keep their morale high.

Give timely feedback.

Make them realize that they are valuable for Organization.Sunday, April 28, 2013

Effective Mentoring8

Employees Retention Strategies

ConclusionSunday, April 28, 2013 Employees Retention Strategies 9

Three Rs of RetentionRespect Recognize

RewardImplementing the right mix of three Rs result into Increased Productivity Reduced Absenteeism A Pleasant Work environment (for both employees and employer) Improved Profits

Basically it creates a

WIN-WIN SituationSunday, April 28, 2013 Employees Retention Strategies 10

Sources Love Em or Lose Em Kaye & Jordan-Evans Employee Retention- Frank Girad (ehow Contributor) Retention Strategies- Chris Joseph (Demand Media) The wall street Journal -Asian Edition (Employee Retention How to Retain Employees) Employee Retention Strategy Can Save Companies Millions. (By: Nancy Germond , AllBusiness.com) http://www.careersystemsintl.com

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A Presentation by, Mohammed Fazil ShareefSunday, April 28, 2013 Employees Retention Strategies 12

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