By: A.Kanthimathinathan,CEO,WINSYS SMC

Retention Rate formula and definition

Key factors of RetentionRetention Strategies Impact of Less RetentionReasons to leave a companyReasons to stay in a company

Demographic changes(Matured workers/Flourishing economy)

Cultural expectations(Entire lifetime with one company/Employer treatment as family)

Upheavals in the world of Work in Spinning mills(Violent disruptions)

Flourishing States in India

Hiring rightMaking our company`Employer of

Choice`Retaining Multi generation

EmployeesDevelop right `Work Culture`Help employees to avoid `Burnouts`Strengthening Retention

Skills(Counselling/feedback)

Develop Mentor Scheme

Appreciate the high performance employees

Wish them on `Birthdays/Anniversaries`

Type of workRespectful treatmentCoaching/TrainingOpportunity to learn new skillsPayAppreciation for good ideaEnvironment conditions

Loss of productivity/Quality consistency

Not meeting SchedulesLoss of OpportunitiesLoss of Image

Fail to connect with their bosses as leaders Work environment is not particularly friendly

Do not feel appreciated

Managers will not listen to employees

No motivation

Limited career growth or opportunityLack of respect Higher compensationFelt their job duties were unchallengingFelt their supervisor lacked leadership skillsFor better work hoursMoving with groupUnhygenic conditions of Hostel/DormitoryLess Medical attention even at times of need

Employees are the heart and soul of an organization

Employee turnover is costly for an organization

Finding suitable replacements for key employees (Ex:Spinners) is difficult

Low employee turnover leads to outstanding performance of an organization

Have a smooth relationship with their boss Workplace is a team oriented environment Contributions are appreciated/Rewarded Workplace is a “climate for learning characterized

by trust and openness towards more future earnings”

“Feel at home” Hostel environment Nutritious food habits and healthy activities for

mind and body Offered programs like Educational Benefits,

Career courses

Job security/Fair treatment Employees want to be treated fairly Companies must demonstrate more than

its minimum obligations Communication

Individuals must know on performance evaluation measures

Goals must be reasonable/achievable/Realistic/Measurable

Pride and teamwork Employees want to feel good when they

achieve results either individually or collectively as a team

Individuals need to be trained and retrained If there is a necessity of `unlearning`

Organisations should create such a climate. Employees expect enthusiastic teammates to

work with for better motivation If less performing employees are `unattended`

it leaves a message `sub standard performance is acceptable`

Make the job enjoyable as fun Without disrupting the overall

productivity of employees, making the job enjoyable is beneficial.

Without time to celebrate, employees are more likely to experience elevated stress and `burn-out`.

Recognition Employees need recognition Recognition must be `specific` like

`Awards/publicising his achievements across the organisations`

(example:Awarding a cash award by sharing the part of benefits of an energy saving measure suggested by an employee)

What are the ways to find the level of happiness of our employees?

Assure employees that they can express freely `what they feel/what makes to feel so`

Seek the services of a third party to surveyShare the survey findings with a plan of action with the team.

If you can determine why employees are not happy, it’s likely you can prevent them from leaving by changing practices, culture, and sometimes even your management style.

Mentor Scheme

Monthly meeting of all employees by HR and Unit head( shd be as informal as possible)

Leaders are open to criticismLeaders are transparent in

communicationLeaders take decisionsLeaders communicate to employees

in advance without any surprisesLeaders set `goals`Leaders `appreciate `good work

done

SATISFACTION

APPRECIATION

MOTIVATION

Queries can be sent to

winsyssmc@ gmail.com