Naveen.V.

Bynd oor
(21) T.Y.B.M.S

Topic

Organisation
Anorganization is a social arrangement which pursues collective goals, controls its own performance, and has a boundary separating it from its environment. The word itself is derived from the Greek word organon.

Organisational structures
Pyramidsorhiera rchies Committeesorjur ies Matrixorganizatio ns Ecologies

Organisational Functions
Design and Production Finance Human Resources Sales and Marketing Administration Research and Development

Levels of Organisation
Top Level Middle Level Lower Level

RETENTION
Retention is the process of ensuring that your members or volunteers remain active with your organization. Retention is not a particularly formal process. Instead, it focuses on maintaining a welcome environment, member morale, and organizational progress.

Importance of Retention Retention is important for a

variety of reasons, which includes having: A happy organizational community A pool of members who you can count on to help when needed A pool of members who could potentially be future leaders A strong indicator of organizational success

How To Increase Employee Retention?

Open Communication. Employee Reward Program. Career Development Program. Performance Based Bonus. Gifts at Some Occasions. Recreation facilities.

Manager Role in Retention

Creating a Motivating Environment. Standing up for the Team. Providing coaching. Delegation. Extra Responsibility. Focus on future career.

 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 for the employee. Employees today are different. They are not the ones who dont have good opportunities in hand. As soon as they feel dissatisfied with the current employer or the job, they switch over to the next job. It is the responsibility of the employer to retain their best employees. If they dont, they would be left with no good employees.

What is Employee Retention? Retention

Types of Employee Retention

Compensati on

Environment

Growth

Relationship

Suppo rt

Compensation
Compensation constitutes the largest part of theemployee retentionprocess. The employees always have high expectations regarding their compensation packages. Compensation packages vary from industry to industry So an attractive compensation package plays a critical role in retaining the employees. Compensation includes salary and wages, bonuses, benefits, prerequisites, stock options, bonuses, vacations, etc. Time to time increase in the salaries and wages of employees should be done. And this increase should be based on the employees performance and his contribution to the organization.

Environment
It is not about managing retention. It is about managing people. If an organization manages people well , employee retentionwill take care of itself. Organizations should focus on managing the work environment to make better use of the available human assets. It includes continuous learning and improvement of the individual, certifications and provision for higher studies, etc. Lack or absence of such environment pushes employees to look for new opportunities. The environment should be such that the employee feels connected to the organization in every respect.

Growth
Growth and development are the integral part of every individuals career If an employee can not foresee his path of career development in his current organization, there are chances that hell leave the organization as soon as he gets an opportunity. The work profile on which the employee is working should be in sync with his capabilities. The profile should not be too low or too high. Employees responsibilities in the organization should help him achieve his personal goals also. Organizations can not keep aside the individual goals of employees and foster organizations goals. Many employers fear that if the employees are well trained, theyll leave the organization for better jobs.

Relationship
Sometimes the relationship with the management and the peers becomes the reason for an employee to leave the organisation. The management is sometimes not able to provide an employee a supportive work culture and environment in terms of personal or professional relationships. There are times when an employee starts feeling bitterness towards the management or peers. This bitterness could be due to many reasons. This decreases employees interest and he becomes demotivated. It leads to less satisfaction and eventually attrition.

Support
Lack of support from management can sometimes serve as a reason for employee retention Supervisor should support his subordinates in a way so that each one of them is a success. Management should try to focus on its employees and support them not only in their difficult times at work but also through the times of personal crisis. Management can support employees by providing them recognition and appreciation. Employers can also provide valuable feedback to employees and make them feel valued to the organisation.

Importance Of Employee Retention

The Cost of Turnover. Loss of Company Knowledge. Interruption of Customer Service. Turnover leads to more turnovers. Goodwill of the company. Regaining efficiency.

Treat Employees Fairly and Respectfully

Your employees are your company's best asset and you must protect and nurture them. Whether you know it or not, you are in the business of growing people. Let them know how valuable their contributions are to the company. Honor your commitments to them.

Example;

Employee Retention Strategies

The basic practices which should be kept in mind in the employee retentionstrategies are: 1. Hire the right people in the first place. 2. Empower the employees: Give the employees the authority to get things done. 3. Make employees realize that they are the most valuable asset of the organization. 4. Have faith in them, trust them and respect them.

5. Provide them information and knowledge. 6. Keep providing them feedback on their performance. 7. Recognize and appreciate their achievements. 8. Keep their morale high. 9. Create an environment where the employees want to work and have fun.

Levels of Employee Retention Strategies

Low level Medium level High level

Retention Success Mantras

Transparent Work Culture Quality Of Work Supporting Employees Feedback Communication Between Employee and Employer

Managing Employee Retention

The task of managing employees can be understood as a three stage process: 1. Identify the cost of employee turnover. 2. Understand why employee leave. 3. Implement retention strategies.

Hire Right Talent

Hire appropriate candidates. Provide realistic job preview at the time of hiring. Clearly discuss what is expected from the employee. Discuss what the expectations of the employees are. Referrals. Culture fit.

Conclusion
Employers who are able to minimize their employee turnover during recession period are going to emerge stronger and healthier than those companies whose employees have defected. Do everything you can to make sure that you keep your employees happy, engaged, and productive. Your company depends on it.

Questionnaire
1. Happy employees generate higher customer satisfaction. a. True b. False 2. Managers who were surveyed thought employees wanted good wages as their highest priority. a. True b. False 3. Employees who were surveyed ranked good wages as their highest priority. a. True b. False

4. Money is a sufficient reason alone to retain good employees. a. True b. False 5. Our relationships with our coworkers draw us to the best employers. a. True b. False 6. The secrets to attract and retain talented employees are fair pay and good treatment. a. True b. False 7. According to the National Study of the Changing Workforce, job quality and workplace support have a combined 90% impact on employee retention. a. True b. False

 8. Employee accomplishments should be praised verbally and in writing. a. True b. False 9. It is acceptable to tolerate sustained poor performance. a. True b. False 10. Employers should celebrate employee successes and milestones. a. True b. False