Employee Retention involves taking measures to encourage employees to remain in the organization for the maximum period of time

. Corporate is facing a lot of problems in employee retention these days. Hiring knowledgeable people for the job is essential for an employer. But retention is even more important than hiring. There is no dearth of opportunities for a talented person. There are many organizations which are looking for such employees. If a person is not satisfied by the job he¶s doing, he may switch over to some other more suitable job. In today¶s environment it becomes very important for organizations to retain their employees.

Employee Retention: Tips and Tools for Employee Retention
Employee retention, especially of your best, most desirable employees, is a key challenge in organizations today. Use these tips, articles, tools and ideas to learn employee retention strategies that will help you retain your best staff. Learn loyalty strategies for employee retention. Top Ten Employee Complaints Are you interested in discovering your employees¶ most serious complaints? Knowing what makes employees unhappy is half the battle when you think about employee work satisfaction morale, , positive motivation, and retention. Listen to employees and provide opportunities for them to communicate with company managers. If employees feel safe, they will tell you what¶s on their minds. Your work culture must foster trust for successful two-way communication. More Tips to Reduce Employee Turnover Competitive salary, competitive vacation and holidays, and tuition reimbursement are three basics in employee retention. Especially for millennial employees, these are the holy grail for recruitment and retention. But, employers can reduce employee turnove in many other ways. (If you think r these read like the Golden Rule, you're right, they do.) Reducing employee turnover is dependant on the total work environment you offer for employees. Learn more. Top Ten Ways to Retain Your Great Employees Key employee retention is critical to the long term health and success of your business. Managers readily agree that their role is key in retaining your best employees to ensure business s uccess. If managers can cite this fact so well, why do many behave in ways that so frequently encourage great employees to quit their job? Here are ten more tips for employee retention. The Bottom Line for Employee Retention Want the bottom line when it comes to employee retention? The quality of the supervision an employee receives is critical to employee retention. People leave managers and supervisors more often than they leave companies or jobs. Learn how to help your managers address employee retention. How to Retain Your Best Employees Interested in keeping your best employees when the job market reboun ds? Retention will be a challenge, according to a recent study. Retention requires a competitive salary and great benefits. However, retention of your best requires a whole lot more. Employee involvement, recognition, advancement, development and pay based on performance just get you started in your quest to retain your best. Keeping the People You Really Need in the Outsourced Economy The outsourced economy is here to stay. As a leader, you may not relish the idea of outsourcing. However, the reality is that you may soon need to. When that happens, you will want a workforce that is nimble, adaptable, and prepared to participate in your organization at a new level of competitiveness. Organizations that partner with their employees will retain those employees when they have the opportunity to become free agents.

once you find them. they're making use of one of the few tools available to increase and maintain their group spirit.. best practices for retaining top talent include offering a stimulating work environment. contributing superior employee. Here's how to use humor to. Here's how to select and retain these people and create an environment in which they continue to thrive. humor isn't an option. . Keeping the best people. Poll: Why Do You Stick With Your Employer? Recruiting and Retention Special Finding the best possible people who can fit within your culture and contribute within your organization is a challenge and an opportunity. Employee Recognition Rocks: Kick Employee Recognition Up a Notch Employee recognition is limited in most organizations.What People Want From Work: Employee Motivation and Positive Morale Some people work for personal fulfillment. busy. it's necessary. life at work is busy. others work for love of what they do. He presents the findings of the Families and Work Institute. These necessary and recommended actions will help you create an appreciated. Others work to accomplish goals and to feel as if they are contributing to something larger than themselves. Learn more. but it can certainly help people survive it. Fun and the Bottom Line: Using Humor to Retain Employees In today's uncertain work environment. they're not wasting valuable time. Employees complain about the lack of recognition regularly. is easy if you do the right things right.´ And. Retaining Talent in a Competitive Market In a competitive market. and a culture that values staff contributions. flexible career options. valued benefit that helps you achieve your business goals. The bottom line is that we all work for money and for reasons too individual to assign similarities to all workers. Take a look at the helpful features in the Industry and Business Recruiting and Retention Special. Keeping Great Employees Pay people reasonably and treat them great. and examples for new employee orientation processes that promote longevity and loyalty.. Use Your Team for Recruitment: A Retention Strategy Selecting and retaining great staff is key for business success. Here are tips. Laughter may not change reality. an excellent benefit package. Learn how job analysis helps you in recruiting and hiring a superior staff. Employee Orientation: Keeping New Employees on Board You want your new employee to experience his new job as a major turn on. tools. Managers who prioritize employee recognition understand the power of recognition. Magnify the Retention Value of Your 401k Plan Tired of feeling as if your 401k plan doesn't get the appreciation and participation it deserves? You can maximize the impact of your 401k retirement plan to benefit the people you employ. Talented people who continue to develop skills and increase their value to your organization and to your c ustomers are your most important resource. Don Grimme recommends these top two ways to retain employees. When employees clown around. ³Why should I recognize or thank him? He¶s just doing his job. busy. Nine Recruiting and Selection Tips to Ensure Successful Hiring These nine tips will help you in recruiting and hiring a candidate who will become a successful. These factors combine to create work places that fail to provide recognition for employees. Managers ask.

which could lead to potential customer loss. the investment is not realized. The costs associated with turnover may include lost customers. Read more ideas for entrepreneurs at More. 5. LLC for more good ideas. Regaining efficiency: If an employee resigns. No big surprises here. While it is difficult to fully calculate the cost of turnover (including hiring costs. Grimme's Top Ten for Retention Don Grimme lists his top ten recommended strategies for retaining good employees. 2005) . Turnover leads to more turnovers: When an employee terminates.Retain Top Talent Employees may enjoy moving around laterally in different jobs. The unspoken negativity often intensifies for the remaining staff. productivity loss). Replacement costs usually are 2. industry experts often quote 25% of the average employee salary as a conservative estimate. current projects and past history (sometimes to competitors). and training the new employee just to get back to where you started. the relationships that employee built for the company are severed. It¶s not only the cost incurred by a company that emphasizes the need of retaining emplo yees but also the need to retain talented employees from getting poached. why is retention so important? Is it just to reduce the turnover costs? Well. 2. Co-workers are often required to pick up the slack. Also of concern are the costs of employee turnover (including hiring costs. Relationships are developed that encourage continued sponsorship of the business. And even after this you cannot assure us of the same efficiency from the new employee 3. interviewing. Higher retention rates motivate potential employees to join the organization. the answer is a definite no. verifying credentials. 4. 6. The Cost of Turnover: The cost of employee turnover adds hundreds of thousands of money to a company's expenses. training costs and productivity loss). In addition there are the hard costs of time spent in screening . customers. The process of employee retention will benefit an organization in the following ways: 1. he takes with him valuable knowledge about the company. ³Effective employee retention is a systematic effort by employers to create and foster an environment that encourages current employees to remain employed by having policies and practices in place that address their diverse needs. When the employee leaves.com. Job Stickiness Core values that are understood and rewarded and feeling a part of a sense of purpose at work are reasons organizations retain staff.5 times the salary of the individual. See Best Practices. Flexible career options and knowledge sharing opportunities help to retain your talented employees. hiring. When an employee leaves. business and damaged morale. training costs.Business. Loss of Company Knowledge: When an employee leaves. but this is an excellent reminder worth reading.´ (Workforce Planning for Wisconsin State Government. Goodwill of the company: The goodwill of a company is maintained when the attrition rates are low. references. the effect is felt throughout the organization. Now that so much is being done by organizations to retain its employees. Often much time and money has been spent on the employee in expectation of a future return. Interruption of Customer Service: Customers and clients do business with a company in part because of the people. then good amount of time is lost in hiring a new employee and then training him/her and this goes to the loss of the company directly which many a times goes unnoticed.

C." Argote adds. How to Improve Employee Retention: Motivation is Not Enough Bonuses. that relationship can create even more of a strain." says Mark Murphy.based executive education firm." he says. 500 Alumni How to Improve Employee Retention: Keeping the Employee Satisfied . leaders often make the mistake of focusing on the motivators without adequately considering what rubs people the wrong way. their turnover rates are going to go from 5 percent to 50 percent and it will happen overnight. that basically rest on their laurels and think 'the economy will take care of us.' the things that motivate you. So what's one of the biggest reasons people quit their jobs? "One of the major reasons is being dissatisfied with their supervisor. author of The Deadly Sins of Employee Retention and CEO of Leadership IQ. Dig Deeper: Recruiting and Retention Secrets of Inc. but entrepreneurs would be remiss to take their fingers off the pulse of company morale simply because employees have fewer options. vacation days. companies with dissatisfied employees will experience a swift exodus of their top talent. and then there are 'tugs. And in the cramped confines of a small business. In a down economy. where are they going to go?' Those are the companies that. employees have fewer opportunities to take a job at another company. as soon as the labor market picks back up. "Companies that don't think about [employee retention]. and many of the tools in a business owner's arsenal revolve around rewarding employees for a job well done and motivating them to produce similarly stunning results in the future. But Murphy says that leaders who dole out these types of perks are only focusing on half of the picture. While these factors will differ for every employee. a professor of organizational behavior at Carnegie Mellon and editor-in-chief of Organization Science." says Linda Argote. a Washington D.How to Improve Employee Retention As the economy revives. There are "two issues generally going on with employees at any given time: there are 'shoves. that tug at you to stay at the organization. "In bigger companies there are more opportunities to move to other jobs if you're dissatisfied with a particular supervisor but like the firm. Here's how to keep your staff engaged and happy. office parties. whereas smaller companies may have less options so they run the risk of losing the employee.' things that demotivate people.

During the hiring process. This policy has helped with employee retention. as CEO of Engage Direct Mail." Despite Hoffman's self-professed learning curve." Murphy explains. which is about as good as you can get. and I've learned through painful experience that that's not the case. steadiness. which Hoffman feels helps people understand one another and get along. Engage has a 90-day trial period during which they evaluate whether new hires are good fits for the company. Engage has implemented a number of policies that serve the dual purpose of attracting potential employees and keeping current ones passionate and committed. You want to retain your high performers and strong matches and gracefully part ways with your worst performers. Dig Deeper: Attracting Top Tech People to a Small City How to Improve Employee Retention: Attracting the Right Candidates Over the years. influence. particularly by making it easier for female employees starting families to take time off and ultimately return to work. I used to assume everybody's ambitious because I'm ambitious and that everybody's motivated by money because I'm motivated by money.Even if you resolve to be more attuned to employee likes and dislikes. in which they can accumulate as many as 60 days off to use as they see fit. to build personality profiles for new hires. drive. his company actually has a stellar retention rate for its 130 employees. such as iPods for the whole team or a trip to a nice restaurant. Dennis Hoffman learned the hard way that "I never know what's inside people's heads. Here are a handful of examples: y Engage gives hiring priority to people who live near the office because they believe that long commutes are detrimental to work-life balance. Engage can encourage employees beyond the y y y . and compliance. it can be difficult to ascertain what drives your employees especially when their motives differ from your own. All employees' test results are public knowledge. By setting quarterly goals with rewards attached. Engage administers the DISC Personality test. Instead of a traditional vacation policy. "zero percent turnover is not a thing to aim for. the company lets employees take time off from a leave bank. In the last 10 years. which charts the four characteristics. After all. During that time their retention rate is about 77 percent and afterwards it is over 95 percent.

ZERORISK HR. management style. one that . However. and potentially divisive realm of salary bonuses.033.  Employee turnover¶s greatest cost is lost business and productivity. never assume a turnover problem exists just because the employee was no good to begin with. you have to implement a proven process and strategy to attain that goal. Secondly. As a business executive. The following will outline a seven step strategy to increase employee retention. basically rationalizing the cause of the turnover.competitive. when I ask what their strategy is in that regard they either mention that they¶ve found this great recruiting firm that is going to do nothing but send them top-level talent. says Hoffman. There are a couple of flaws with this line of reasoning. or corporate culture. Inc. As with any business goal." Seven Steps To Increase Employee Retention By Mike Poskey.000 workers by 2010. doesn¶t it make sense to have business processes that add efficiencies to how you conduct business to reach your corporate objectives and provide a positive perception in the marketplace and to your customers? Why is Employee Retention Critical to Business Success?  Projections from the Bureau of Labor Statistics forecast a shortage of 10.5 times the employee¶s annual salary. just because a recruiter has sent you toplevel talent doesn¶t mean that employee is going to stay and prosper with your organization. Many organizations are now realizing the bottom-line effect on retaining quality employees. while reducing the associated costs of turnover. Argote says. When I consult with companies." In addition to spurring employees to productivity. Job fit and performance go well beyond just having a talented employee. First. "there's evidence that being in cohesive work groups where members like each other reduces turnover. this team structure can make them happier in the workplace. Retaining quality performers quite simply adds to increased productivity and morale. the subject of identifying and retaining top talent is always one of the critical items executives tell me they¶d like to improve upon. or they look at me and tell me the people that have left were no good to begin with.  Turnover analysis reports continue to show that the cost of unwanted turnover can be 1. because "somebody who is not motivated by getting an iPod knows that other people in his or her group are and doesn't want to let them down. The group nature of these rewards is important. I can¶t tell you how many talented employees I¶ve seen leave organizations because they were either miscast for the job.

Provide good employee orientation. 6. coaching. Identify roles for which employees may be suited in the future and work with them on designing their succession plan within the organization. and will. Include behavioral assessments and structured behavioral interviewing techniques to increase the likelihood of hiring people that can. Provide ongoing professional development to show your willingness as an organization to develop your greatest asset ²your people. Provide an equitable or fair pay system. § ¤ An Em l nti n Strategy that Delivers esults At The Rainmaker Group we are committed to helping you Maximize Possibility by creating an employee retention program and provide you with the proper retention training system that will identify and retain the top performers within your organization. many organizations are already using several of the aforementioned steps.g. and resources. Be competitive! Encourage succession planning. Break All the Rules. your participation in new employee orientation sends a vital cultural and leadership message: "We¶re all involved here in the drive toward what we want to be in the future. If you have a turnover problem. 3. As a senior leader. computer s ills. Invest in cross training. The people you hire today are potentially your greatest resource for corporate success in the years ahead. 7. but may be lacking or deficient in the other steps. look first at your managers.) to objectively define the core competencies required for success in each role (competency modeling). Implement a well-designed assessment and selection process. Implement programs for employee training and development. This helps in providing a realistic job preview for candidates and managers. job shadowing. do the job at a high level in your environment and for your managers (job fit assessment). Each step is critical to the overall success of a comprehensive employee retention plan. ¡ ¡ ¢ ¡ In summary." Everyone²even the newest employee²has value.helped one Fortune 500 Company realize a 67 percent increase in retention in the first year of   implementing all seven steps behavioral assessments cognitive reasoning assessments job simulations and hard s ills assessments (e. We understand that time is money to your organization. Improve manager and employee relationships." Marcus Buckingham and Curt Coffman write in First. Concentrate on the people that stay with you to learn what makes them happy « then give them more of it! "People leave managers. 2. mentoring. ¢   § ¤ £ ¦¨¦ ¦¦¥   1 Conduct job analysis audits to provide realistic job previews Conduct job analysis audits with . 4.. not companies. Oftentimes what managers think they need for a certain role is different from that they actually need. and cross-experience. Every minute of every day that your employee retention problems persist your organization is losing valuable time. energy. etc. 5.

An effective employee retention program can have a dramatic impact on your organization's bottom line. As employees grow so does your business. reduced employee turnover. and enhanced employee morale.Wit t use of t e powerful tools at our disposal our employee retention experts will get to know your team and organi ational culture better t an you could have ever imagined.did you know? y y y y The cost of employee turnover can range between 1/2 to 4 times an employee's annual wages and benefits 80% of turnover can be attributed to mistakes during the hiring process(Harvard Busin ss Review) Employee retention has as much to do with who you hire as what you do after he or she is hired Traditional methods of hiring employees only provide a 14% likelihood of a successful job hire (Michigan State Universit )   An ineffective employee retention strategy can drive any manager crazy. What if. and the steady outflow of quality workers! How we can help improve your current employee retention program: y y y y y We identify top performing team members and develop strategies to ensure they stay with your organization We can identify the reasons why an employee will leave before they are ever hired We will help you select and hire great employees who are well fit for the job and your organizational culture We can help to improve communication and morale . The crippling effects employee turnover costs can have on your organization's efforts to consistently turn a profit only adds to the stress you are already under as a leader in your organization. It might seem like common sense. By doing so we can get down to the real causes of employee turnover in your organi ation and develop retention program that is right for your team. Stop unwanted employee turnover dead in its tracks and get back to doing what you do best: growing and leading your organi ation!   Employee retention . Our employee retention training programs deliver results . Your turnover rate was half that of the competition You were able to hire employees who are truly fit for the job position You could divert money from recruitment efforts to better train existing employees You were able to know with certainty what actions to take to retain key team members y y y y   © ©  © © . dwindling levels of retention . You can do something about the high cost of employee turnover. but it can't be understated: an organization is only as good as the people it employs..two key elements that affect employee retention We will assist in determining growth opportunities for team members and develop customized training that will improve performance There are few if any issues that business leaders face today that are more important than the effort to hire and retain good employees.we guarantee it! Our clients always see a si able return on investment in the form of improved profitability. Don't despair.. and its bottom line.

what you do after the employee is hired Here at The Rainmaker Group our employee retention experts have some of the most powerful tools available to help you select the best employees and effectively coach and motivate your employees after they are hired. Give us a call today.who you choose to fill job vacancies The Human Development Process .Imagine the possibilities! There are two key components to an effective employee retention strategy y y The Employee Selection Process . We are here to help and would love to hear from you! .

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