How to retain your best talent

With the availability of over pouring opportunities for the best talents, retention is on the rise. Smart employers should realize the importance of retaining their deserving employees.
The impact of retention can easily be controlled if the organization is able to address the problem at the root level. The cause of retention differs with every level of organization. The challenge for most of the organizations is to identify the factors leading to retention and develop effective strategies to overcome retention.

Few points that should be kept in mind in order to minimize retention are:

  1. Empower the employees. Let employees feel part of the organization. Hand over the responsibility with complete belief, have faith in the employee’s potential.
  2. Let your employees feel important. Provide them proper information and knowledge and allow them to express freely in the organization.
  3. Organization should be able to provide proper time, tools and training to the employee which will enable them to perform their job well.
  4. Evolve strategies to spend valuable time with employees, enabling the seniors to know more about what employees feel for their current job and company and what aspirations they hold on to.
  5. Supervisors and seniors should develop a strategy to appreciate their employees and let them feel that they exist. Many quitting employees express that their seniors didn’t even know they existed. Recognizing their efforts for their respective roles could prevent retentions.
  6. Never utter negative about employee’s job. If you notice some negligence in employee’s part, talk to them directly and confidentially. Your one wrong step of talking negative about any employee will direct them on the lookout for change.
  7. Reward your employees. Monetary rewards in terms of bonuses and gifts motivate your employees to perform even better and will let them feel recognized.
  8. No matter what the circumstances are, never threaten the employees by cutting their salaries.
  9. Employees should enjoy their work. So make room to express their special talents.
  10. Enable employees to balance work and life. Don’t overburden employees, hire adequate staff. Induce flexi – work schemes like work from home and flexible time frames for work.
  11. Make arrangements within the company for growth opportunities and new learning through education and training.
  12. Make off-sites a tradition and nurture it. Keep it informal and away from work talks.

With such measures let your organization be the one who appreciate and value employees and retain them happily.

Understanding Employee Retention

HR manager’s job is not done only by hiring the best candidates. Retaining them is a key challenge in the organizations today. Hiring intellectual people for the organization is essential but retention is even more important. A heap of organizations available with many new remunerative techniques is making this challenge tougher.

Every organization invests a lot of time, effort and money in training new recruits and making them at par with the existing employees. High employee turnover results not only in loss of time and money but also affects the productivity of the organization. Hence more and more companies are taking measures in retaining their best bets. Smart organizations realized that having an employee retention plan will help them sustaining their growth in the market and also encourages employees to remain in the organization for longer span.

With retention of employees, there is unrealized threat to a company’s loss of valuable information. Often when an employee is hired, company’s knowledgeable information, projects and many other valuable details are shared, but when an employee leaves, all the information is exposed to the outer world. In most of the cases, an employee leaves the organization out of frustration and repetitive conflicts with their supervisors and other team members. In some cases low salary, lack of growth prospects and lack of appreciation force employee to look for a change. In such situations, it is the responsibility of the managers to ensure that the employees are satisfied with the present roles and employees should be engaged in new challenges and new learning.

Research says that the individuals that stay for a longer time in organizations are more loyal towards the management. Organizations should acquire a culture where employees are more compatible and open with each other. Employees should be friendly with their team members and trust them to discuss matters openly.

Every organization needs hard working and talented workforce. No organization can survive if the all the desirable employees quit, it is essential for the organization to retain those employees who are not replaced easily.