EMPLOYEE RETENTION : CHALLENGE TO INDIAN ORGANIZATIONS

Prepared by: ANJALI SAHU PRATIK BAKSHI

SHRI SHANKARACHARYA INSTITITE OF TECH.& MANAGEMENT

.Understanding Attrition LOSS OF PERSONNEL = Gradual reduction of workforce in the organization.

COMPARISON ATTRITIVE FACTORS RETENTIVE FACTORS COMPLIANCE CONTROL UNEXCITING JOB DISCRIMINATION RIGID NORMS ABRUPT CHANGES BRAND IMAGE FAIR COMPENSATION GOOD CULTURE EMPOWERMENT HEALTHY ENVIRONMENT TALENT UTILIZZATION .

.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.

Why Retention Important? Cost of turnover Loss of company knowledge Turnover leads to more turnovers Goodwill of company .

KEY ASPECTS OF EMPLOYEE RETENTION Human Resource Planning.  Optimal Human Resource Utilisation  Quality of Work Life  Compensation and benefits  Employee Relations  . Recruitment and Selection.

Factors for Retention Organizational Environment Growth Support Relationship .

Why do employees leave Organization? Financial considerations Organisational Fit Work environment not conducive to growth Career development Lack of effective communication and ineffective grievance procedures Resistance to change .

4 W·s 1 H CONCEPT = Why an Employee leave an Organization? .

Strategies to be Adopted .

Denote employees as valuable asset Trust Proper training and coaching .Other KEY POINTS Right people at Right place Frequently Data Analysis Empower the employees.

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Other Practices : Open communication Performance based payment Career development program Recreational facilities Gift at some occasions .

CONCLUSION««« .

RETENTION : IS ABOUT R .EMUNERATE COMPETITIVELY E .NCOURAGEMENT AND EXPECTATIONS T ² RAINING AND DEVELOPMENT A ² NNUAL REVIEW CYCLES I ² INFORM AND INVOLVE N .URTURE .

..THANK YOU FOR PATIENT HEARING««««««.

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