Effective Retention Policy
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The document discusses effective retention policies for controlling attrition. It recommends conducting exit interviews and surveys to understand why employees leave so the company can address issues like lack of recognition from managers. The retention strategy should optimize attrition while allowing career growth. Engaging employees through performance recognition, learning opportunities, good communication, and personal relationships can improve retention. Analyzing turnover rates and conducting employee surveys can provide insights to guide policy changes. The key is developing a positive correlation between performance, rewards, and development.
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Employee_Retention_NehaNeha More
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Employee retention refers to policies that encourage employees to remain with an organization. While training new employees is costly, retaining experienced employees allows an organization to benefit from their existing skills and institutional knowledge. Common reasons for employee turnover include lack of career growth opportunities, low compensation, and poor relationships with management or coworkers. Effective retention strategies include offering competitive pay and benefits, fostering employee development and career growth, maintaining open communication, and ensuring employee satisfaction with their roles, responsibilities, and work environment.Retention strategies
Retention strategiesHimanshu Paliwal
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This document discusses why employees leave organizations and offers strategies for improving retention. The main points are:
1) Employees often leave their jobs due to poor management rather than issues with the company itself. Bad managers can negatively impact performance and inspire disloyalty.
2) Other reasons for employee turnover include constant reorganization that creates uncertainty, a culture of negative competition between departments, and lack of support and appreciation for employees.
3) To improve retention, managers should identify key employees, understand their career goals, offer growth opportunities, ensure fair compensation, build strong relationships, and develop a formal retention plan with accountability. Regular communication and showing trust in employees are also important.Employee retention
Employee retentionumesh yadav
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This document discusses various reasons why employees leave their jobs and strategies to improve employee retention. It begins by outlining top reasons for employee turnover according to different studies, such as lack of growth opportunities, low pay, and poor company culture. It then discusses micro-level reasons like compensation, stress, and competing job opportunities. The document provides detailed lists of actions organizations can take to address different reasons for attrition, such as improving communication, flexibility, recognition programs, and career development opportunities. Overall, the key message is that retention requires understanding why employees leave and implementing strategies to improve motivation, satisfaction, and engagement.10Copyright 息 2015 Pearson Education, Inc. Managing Employee.docx
10Copyright 息 2015 Pearson Education, Inc. Managing Employee.docxherminaprocter
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The document discusses IBM's strategies to manage employee retention and adapt its workforce to changing technological demands, highlighting the importance of comprehensive retention programs. It outlines best practices for fostering employee engagement, career development support, and addressing turnover costs, emphasizing the significance of understanding employee needs and creating supportive environments. The document also touches on the role of managers in facilitating employee growth and the necessity of aligning employee skills with organizational goals.10Copyright 息 2015 Pearson Education, Inc. Managing Employee.docx
10Copyright 息 2015 Pearson Education, Inc. Managing Employee.docxRAJU852744
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The document discusses IBM's strategies for managing employee retention and engagement as it adapts to the rapid changes in technology. It emphasizes the importance of effective HR practices, such as training, career development, and employee engagement, to reduce turnover costs and enhance organizational performance. Key recommendations include understanding turnover causes, providing meaningful work, and fostering a supportive environment for employee growth.Managing attrition rate in BPO's and KPO's
Managing attrition rate in BPO's and KPO'sMadhuri Lotankar
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The document provides an overview of a study on employee attrition. It discusses how attrition affects businesses and the objectives of studying attrition factors. A survey was conducted to determine key job factors that influence attrition, including job content, responsibilities, career growth and job context such as work environment and compensation. The study aims to identify whether job content or context has a greater impact on attrition and help predict future attrition rates. It also provides background on attrition in the business process outsourcing industry and common reasons why employees leave their jobs.google case-study(hrm)
google case-study(hrm)Ammara Ashfaq
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Google should take several steps to improve employee retention:
1. Provide opportunities for growth and development within the company so employees feel they have a future. Discuss career paths and future roles with key employees.
2. Create a high-performance work environment where employees are challenged and can thrive. Set clear goals and expectations.
3. Carefully hire employees who are a good fit for the company culture and are likely to stay long-term rather than looking for other opportunities. Screen for motivation, ambition, and ability to handle pressure.Human dyanamics MITSOB, motivation and employee attitude measurement
Human dyanamics MITSOB, motivation and employee attitude measurementTushar Upadhyay
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[1] The company is facing high attrition and needs to assess employee motivation and attitudes.
[2] The manager proposes using questionnaires, employee meetings, monitoring entry/exit, and performance metrics to evaluate factors like satisfaction, incentives, supervision, and work conditions.
[3] Theoretical models can also be applied to analyze motivation, such as calculating a motivation potential score based on job characteristics, and using expectancy theory to understand employee expectations.Analysis of Attrition & Employee engament activity at IDEA Cellular ltd
Analysis of Attrition & Employee engament activity at IDEA Cellular ltdalpana96
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The document presents an analysis of employee attrition and engagement at Idea Cellular Ltd., highlighting the company's profile and the high attrition rate of 34%. It outlines the study's objectives, methodologies, and findings, including strategies for improving employee retention through various HR policies and engagement activities. Additionally, the document emphasizes the importance of family support in employee achievements and proposes evaluation processes for new joiners to enhance their integration into the company.Human Resource Practices
Human Resource Practiceskalipada Adhikary
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The document discusses the importance of effective HR practices in enhancing employee satisfaction and retention within organizations. It outlines best practices such as 360-degree feedback, creating a safe and healthy workplace, performance incentives, and recognizing top performers, which all contribute to a motivated workforce. Furthermore, it emphasizes the need for open communication, fair evaluations, and a supportive work environment to foster productivity and organizational success.Ad
Effective Retention Policy
- 1. Copyrights 息 2010 KNR Management Consulting (P) Ltd. Effective Retention Policy The baseline of Attrition control Written By: Kushagr Agarwal, Principal Consultant KNR Management Consulting, New Delhi The HRs have been bothered by the retention issues and specifically the current trend of hopping over has become a mess now. It largely depends on the fact that what motivates your associates. Trying finding out that and also what is the core reason of their leaving the company. Probably after that you can design retention strategy effectively. Retention policy has to be framed by taking many factors into consideration; Understanding the fact all organizations need fresh and new brains to a certain extend. So the retention strategies need to be planned & executed in such a way where the attrition can be set at an optimum level. Optimizing the attrition will reduce HR concerns and will give fair opportunity for the juniors to grow horizontally & vertically. Very few companies have done it, it will be advisable to have a Welcome Back program for employees so that we will be able to monitor, assess and formulate retention practices more effectively. My idea is take a sample group of associates and run through a survey / psychometric test / feedback about supervisors & initiate conducting Exit Interviews and maintain a strong analysis on the same. Basis of such reports, formulate something unique. Although there are no quick-fix & no magic formulas but a persistent effort can create remedial solutions. Firstly format the Exit interview to provide you the basic cracks to work on (I have experienced that some of the organizations never take it seriously & blame it on HR & its practices), secondly design the HR Survey and analyze it with the feedbacks given in the exit interviews and then you will come to certain conclusions on what your associates are expecting from organization. Most of the exit interview's I've taken reveal a deeper need for recognition by the immediate managers. It is actually all about Employee Engagement and how are they engaged with the organization? For engaging them, organizations should have fair-play policies like a fun clubs, learning clubs along with calculated performance recognition policies. Supporting associates with further Education programmes (MBA, Diploma, Technical studies on company costs) has proved quite beneficial for many companies although it can be immensely expensive for SMEs. Good communication pattern also helps to drive engagement like periodical feedback on performances. These all has to be driven by people but HR has to support and put all things in right directions. We have a habit of conducting quite a few engagement activities and we have a good response from our employees, however the responses I receive from the departing employees is that these activities are impersonal. Even b-day cakes / cards are not considered personal if everyone else is getting the same. We've introduced an early warning system which ensures managers have a one on one meeting with their reportees at least once a month to talk about things other than work. The improved bonding helps employees feel recognized, aligned with the org goals and helps the manager understand where the employee is from an attrition point of view. In an active market, you have to expect a reasonable degree of turnover - some employees you cannot retain, no matter what and others may just be average performers and more easily replaced. If your turnover rate exceeds, say, 10% do an analysis to determine if it is across the board or confirmed to certain units and/or job classifications. Employee opinion surveys administered by 3rd party firms followed by focus groups can be extremely effective in understanding and merging the concerns of employees and management. Out of this the information can be obtained which can guide you in determining what company policies, if any, to add or modify All we need is to develop a positive correlation amongst these factors namely, Performance, Rewards & Development.