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  • Motivation and Retention

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    Andrea Lộc Thảo Nguyên
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    The document provides an overview of motivation and retention strategies for reducing employee turnover. It discusses the direct and indirect costs of employee turnover and common reasons why employees leave, such as job mismatch, lack of opportunities, and poor leadership. The document also outlines components of an effective retention plan, including recruiting the right employees, career development, and creating a supportive organizational culture. It emphasizes the importance of exit interviews to understand why employees decide to leave and identify changes an organization can make to improve retention.

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    The document provides an overview of motivation and retention strategies for reducing employee turnover. It discusses the direct and indirect costs of employee turnover and common reasons why employees leave, such as job mismatch, lack of opportunities, and poor leadership. The document also outlines components of an effective retention plan, including recruiting the right employees, career development, and creating a supportive organizational culture. It emphasizes the importance of exit interviews to understand why employees decide to leave and identify changes an organization can make to improve retention.

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    © All Rights Reserved
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    Flag for inappropriate content
    10 views16 pages

    Motivation and Retention

    Uploaded by

    Andrea Lộc Thảo Nguyên
    The document provides an overview of motivation and retention strategies for reducing employee turnover. It discusses the direct and indirect costs of employee turnover and common reasons why employees leave, such as job mismatch, lack of opportunities, and poor leadership. The document also outlines components of an effective retention plan, including recruiting the right employees, career development, and creating a supportive organizational culture. It emphasizes the importance of exit interviews to understand why employees decide to leave and identify changes an organization can make to improve retention.

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    © All Rights Reserved
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    of 16

    Becamex Business School

    Motivation and Retention

    HRM351 1
    Lesson Objectives
    1. Identify the costs of employee turnover.
    2. Identify the difference between direct and indirect turnover costs.
    3. Describe the major reasons why employees leave.
    4. Discuss major theories on job satisfaction and dissatisfaction.
    5. Explain the components of a retention plan.
    6. Explain the strategies and considerations in the development of a
    retention plan.

    Motivation and Retention


    Types of turnover
    ● Voluntary in which the employee makes
    decision to leave.
    ● Involuntary in which the organization
    terminates the employment relationship.

    3
    Cost of turnover
    DIRECT INDIRECT
    ● Recruitment ● Lost of knowledge
    ● Advertising ● Lost of productivity
    ● Orientation and Training ● Lost of trade secrets
    ● Severance ● Cost of lack motivation
    ● Tests before leaving
    ● Time to interview
    ● Time to replace

    4
    Reasons why employees leave
    ● Job mismatch
    ● Lack of opportunities
    ● Internal pay equity
    ● Poor and ineffective leadership or management
    ● Conflicts with managers
    ● Workload
    Reasons why employees leave
    ● Low job satisfaction
    ● Perception of unfair treatment
    ● Conflicts with company missions and values
    ● Feeling unappreciated
    ● Personal issues
    ● Relocation of partner or spouse
    Job Withdrawal
    Actions employees take when dissatisfied
    Even they satisfied but still consider a career change
    7 hidden reasons employees leave
    Reason #1: The Job or Workplace Was Not as Expected
    Reason #2: The Mismatch Between Job and Person
    Reason #3: Too Little Coaching and Feedback
    Reason #4: Too Few Growth and Advancement Opportunities
    Reason #5: Feeling Devalued And Unrecognized
    Reason #6: Stress From Overwork and Work-Life Imbalance
    Reason #7: Loss of Trust and Confidence in Senior Leaders
    11
    Exit interview
    ● A meeting of a departing employee with the employee’s
    supervisor and/or a human resource specialist to discuss the
    employee’s reasons for leaving.
    ● A well-conducted exit interview can uncover reasons why
    employees leave.
    ● When several exiting employees give similar reasons for
    leaving, management should consider whether this indicates a
    need for change.

    12
    To reduce voluntary employee turnover
    ● Recruiting the right people: Clear job description.
    ● In interview try to explore what candidates expect, provide
    them information.
    ● Discussion of career development plan.
    ● Employee assistance program.
    ● Job design, job enlargement, job enrichment, empowerment.
    ● Provide management training for manager.
    ● Creating supportive organizational culture.
    ● Team building; Satisfaction surveys; Informal exit interviews.
    Motivation and Retention
    Case Study: Kevin was leaving
    Homework

    ❏ Do you think Kevin made the right decision


    to leave?

    ❏ What can be learned from the case?

    Motivation and Retention


    Becamex Business School

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