Executive Summary 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 the employee. Employees today are different. They are not the ones who don t 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 don t, they would be left with no good employees. A good employer should know how to attract and retain its employees. Most employees feel that they are worth more than they are actually paid. There is a natural disparity between what people think they should be paid and what organizations spend in compensation. When the difference becomes too great and another opportunity occurs, turnover can result. Pay is defined as the wages, salary, or compensation given to an employee in exchange for services the employee performs for the organization. Pay is more than "dollars and cents;" it also acknowledges the worth and value of the human contribution. What people are paid has been shown to have a clear, reliable impact on turnover in numerous studies. Employees comprise the most vital assets of the company. In a work place where employees are not able to use their full potential and not heard and valued, they are likely to leave because of stress and frustration. In a transparent environment while employees get a sense of achievement and belongingness from a healthy work environment, the company is benefited with a stronger, reliable work-force harboring bright new ideas for its growth

Introduction Employee turnover is one of the largest though widely unknown costs an organization faces. While companies routinely keep track of various costs such as supplies and payroll, few take into consideration how much employee turnover will cost them: Ernst & Young estimates it costs approximately $120,000 to replace 10 professionals. According to research done by Sibson & Company, to recoup the cost of losing just one employee a fast food restaurant must sell 7,613 combo meals at $2.50 each. Employee turnover costs companies 30 to 50% of the annual salary of entry-level employees, 150% of middle-level employees, and up to 400% for upper level, specialized employees. Now that so much is being done by organizations to retain its employees, why is retention so important? Is it just to reduce the turnover costs? Well, the answer is a definite no. It s not only the cost incurred by a company that emphasizes the need of retaining employees but also the need to retain talented employees from getting poached.

Resume Writing Tips Employee Retention

Retention involves five major things: Ø Compensation Ø Environment Ø Growth Ø Relationship Ø Support Compensation Compensation constitutes the largest part of the employee retention process. 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. While setting up the packages, the following components should be kept in mind: Salary and monthly wage: It is the biggest component of the compensation package. It is also the most common factor of comparison among employees. It includes Basic wage House rent allowance Dearness allowance City compensatory allowance Salary and wages represent the level of skill and experience an individual has. Time to time increase in the salaries and wages of employees should be done. And this increase should be based on the employee s performance and his contribution to the organization. Bonus: Bonuses are usually given to the employees at the end of the year or on a festival. Economic benefits: It includes paid holidays, leave travel concession, etc.Long-term incentives: Long term incentives include stock options or stock grants. These incentives help retain employees in the organization's startup stage. Health insurance: Health insurance is a great benefit to the employees. It saves employees money as well as gives them a peace of mind that they have somebody to take care of them in bad times. It also shows the employee that the organization cares about the employee and its family. After retirement: It includes payments that an Employee gets after he retires like EPF (Employee Provident Fund) etc. Miscellaneous compensation: It may include employee assistance programs (like psychological counseling, legal assistance etc), discounts on company products, use of a company cars, etc. Employers And Their Key Drivers To Attract And Retain Talent Employers Key Drives To Attract And Retain Talent Procter and Gamble India

Early responsibilities in career Flexible and transparent organizational culture Global opportunities through a variety of exposure and diverse experiences Performance Recognition American Express (India) Strong global brand Value-based environment Pioneer in many people practices NTPC Learning and growth opportunities Competitive rewards Opportunity to grow, learn and implement Strong social security and employee welfare performance- oriented culture Johnson & Johnson Strong values of trust, caring fairness, and respect within the organization Freedom to operate at work Early responsibility in career Training and learning opportunities Visible, transparent and accessible leaders Competitive rewards Innovative HR programs and practices Glaxo Smith Kline Consumer Healthcare Performance-driven Rewards Its belief in Growing our own timber Comprehensive development and learning programs Flat organization, where performance could lead to very quick progression Challenging work context Competitive rewards Exhaustive induction and orientation program Tata Steel Organization philosophy and culture Job stability Freedom to work and innovate Colgate Palmolive India Company brand Open , transparent, and caring organization

If an organization manages people well. It is about managing people.People want to work for an organization which provides Ø Appreciation for the work done Ø Ample opportunities to grow Ø A friendly and cooperative environment Ø A feeling that the organization is second home to the employee Organization environment includes Culture Values .Management according to the managing with respect to guiding principles Training ad development programs Structured career planning process Global career opportunities Wipro Company s brand as an employer Early opportunities for growth High degree of autonomy Value compatibility Innovative people program Indian Oil Corporation Company brand image Work ethics Learning and growth opportunities Challenging work assignments Growing organization TCS The group brand equity Strong corporate governance and citizenship Commitment to learning and development Best in people practices Challenging assignments Opportunity to work with fortune 500 clients Organization Environment It is not about managing retention. Organizations should focus on managing the work environment to make better use of the available human assets. employee retention will take care of itself.

he ll not be able to contribute in organization growth. The profile should not be too low or too high. challenging work. etc. Growth and Career Growth and development are the integral part of every individual s career. Organization should not limit the resources on which organization s success depends.The important factors in employee growth that an employee looks for himself are:Work profile: The work profile on which the employee is working should be in sync with his capabilities. Organizations can not keep aside the individual goals of employees and foster organizations goals. supportive co-workers. Many employers fear that if the employees are well rained. Work life balance includes: Flexible hours Telecommuting Dependent care Alternate work schedules Vacations Wellness Work environment: It includes efficient managers. Training and development: Employees should be trained and given chance to improve and enhance their skills. If he s not satisfied with his growth. Lack or absence of such environment pushes employees to look for new opportunities. involvement in decision-making. The environment should be such that the employee feels connected to the organization in every respect. If an employee can not foresee his path of career development in his current organization. and recognition. Employees priority is to work for themselves and later on comes the organization. there are chances that he ll leave the organization as soon as he gets an opportunity. clarity of work and responsibilities. Personal growth and dreams: Employees responsibilities in the organization should help him achieve his personal goals also. they ll leave the organization for better jobs.Company reputation Quality of people in the organization Employee development and career growth Risk taking Leading technologies Trust Types of environment the employee needs in an organization Learning environment: It includes continuous learning and improvement of the individual. Support environment: Organization can provide support in the form of work-life balance. These trainings can be given to improve many skills like: Communications skills Technical skills In-house processes and procedures improvement related skills . certifications and provision for higher studies.

Try to make the current employees stay instead of recruiting new ones. certifications. Recruit whole heartedly: An employee should be recruited if there is a proper place and duties for him to perform. It leads to less satisfaction and eventually attrition. the management should keep the following points in mind. Induce loyalty: Organizations should be loyal as well as they should promote loyalty in the employees too. Support Lack of support from management can sometimes serve as a reason for employee retention. Employers can also provide valuable feedback to employees and make them feel valued to . Show them that the organization cares and he ll show the same for the organization. Management can support employees by providing them recognition and appreciation. The management is sometimes not able to provide an employee a supportive work culture and environment in terms of personal or professional relationships. This decreases employee s interest and he becomes de-motivated. Importance of Relationship in Employee Retention Program Sometimes the relationship with the management and the peers becomes the reason for an employee to leave the organization. An employee based culture may include decision making authority. Supervisor should support his subordinates in a way so that each one of them is a success. Individual development: Taking proper care of employees includes acknowledgement to the employee s dreams and personal goals. It is his duty to involve the employee in the processes of the organization. He designs ands plans work for each employee. 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. To enhance good professional relationships at work. open door policy. not only among teams but in different departments as well. Create opportunities for their career growth by providing mentorship programs. Deliver what is promised. This will induce competition as well as improve the Relationship among collegues. There are times when an employee starts feeling bitterness towards the management or peers. So an organization should hire managers who can make and maintain good relations with their subordinates. Relationship with colleagues: Promote team work. Employees should know what the organization expects from them and what their expectation from the organization is. availability of resources. This bitterness could be due to many reasons. etc.Promote an employee based culture: The employee should know that the organization is there to support him at the time of need. Otherwise he ll feel useless and will be dissatisfied. Respect for the individual: Respect for the individual is the must in the organization. individual meetings. employee satisfaction surveys and by being in constant touch with the employees.C or customer satisfaction related skills Special project related skills Need for such trainings can be recognized from individual performance reviews. etc. A supportive work culture helps grow employee professionally and boosts employee satisfaction. educational courses. Relationship with the immediate manager: A manger plays the role of a mentor and a coach.

Descriptive research also includes demography characteristic of consumer who use the product.the organization. It mainly involves surveys and fact finding enquiries of different kinds. Questionnaire Design The questionnaire framed for the research study is a structured questionnaire in which all the questions are predetermined before conducting the survey. etc Employers can also support their employees by creating an environment of trust and inculcating the organizational values into employees. The researcher also used analytical research design to analyze the existing facts from the data collected from the customer. Thus employers can support their employees in a number of ways as follows: Ø By providing feedback Ø By giving recognition and rewards Ø By counseling them Ø By providing emotional support RESEARCH METHODOLOGY Research Design The research design indicates the type of research methodology under taken to collect the information for the study. The main objective of using descriptive research is to describe the state of affairs as it exits at present. confident and empowered. Research instrument The Structured questionnaire is used as the research instrument for the study. The researcher used descriptive research to discover the characteristics of customers. The form of question is of both closed and open type. childcare services. The feedback from supervisor helps the employee to feel more responsible. Top management can also support its employees in their personal crisis by providing personal loans during emergencies. . The researcher used both descriptive and analytical type of research design for his research study. Chennai. Area of study The area of study is confined to employees of GEMINI COMMUNICATION LTD. employee assistance Programs. conseling services.

Neither Satisfied nor dissatisfied. R2. Dissatisfied. The questionnaire was designed in such a way that the questions are short and simple and is arranged in a logical manner.The scales used to evaluate questions are: Dichotomous scale (Yes or No) Likert 5 point scale (Highly satisfied. Sampling design A Sample design is a definite plan for obtaining a sample from a given population. Pilot study It is appropriate to conduct pilot survey to check the reliability of the questionnaire. literature review and also from the past records maintained by the company. Highly dissatisfied) Category scale (Multiple items) Ranking type (R1. variance and confidence methods are used for determining sample size. Secondary data The secondary data are collected through the structured questionnaire. So pilot study was conducted on 5 respondents which is a 10% of the sample. Sample size Sample size=125 samples. DATA COLLECTION METHOD Primary data Primary data is the new or fresh data collected from the respondents through structured scheduled questionnaire. Sampling Technique: The researcher adopted simple random sampling for the study. R3 ) The questionnaire for the research was framed in a clear manner such that it enables the respondents to understand and answer the question easily. . It is the procedure used by the researcher in selecting items for the sample. satisfied.

Null Hypothesis (Ho): There is no difference in attributes 2.STATISTICAL TOOLS AND TECHNIQUES PERCENTAGE ANALYSIS: Percentage = (No. Alternate Hypothesis(H1): There is a difference in attributes 3.T 6. Where total score = no of respondents*weighted average CHI SQUARE TEST: 1.T × C.n1.05 4.n1 . Degrees of freedom = (r-1)(c-1) 5. of respondents/ total no. Expected frequency: E = R. The tabulated value of at given level of significance with (r-1)(c-1) Degrees of freedom ONE RUN TEST Null hypothesis (H0): There is a no significant relationship between the variables Alternate hypothesis (H1): There is significant relationship between the variables µr = 2 n1 n2 + 1 n1 + n2 2 n1 n2.T G. of respondents)*100 WEIGHTED AVERAGE METHOD: Formula: Mean score = total score/no of respondents. Calculation of : = (O-E)² E 7. Level of significance = 0.

H0: There is a no significant relationship between Work Culture of the Company and interpersonal relationship between employees.58) Upper limit = µr + (2. Findings of the research may change due to area. The findings of the study are subjected to bias and prejudice of the respondents. The accuracy of findings is limited by the accuracy of statistical tools used for analysis. demography. The findings of the study are solely based on the information provided by the respondents. 5. Analysis and Interpretation of data PERCENTAGE ANAYLSIS AWARENESS OF HR POLICIES Chi-Square Test To find whether there exists a significant relationship between Work Culture of the Company and interpersonal relationship between employees. . Time factor can be considered as a main limitation.58) KENDALL S COEFFICIENT OF CONCORDANCE: Null hypothesis (H0): There is a difference in attributes Alternate hypothesis (H1): There is no difference in attributes Rj = (Rj-Rj)2 S= Rj = Rj LIMITATIONS OF THE STUDY 1. 4. 3. H1: There is a significant relationship between Work Culture of the Company and interpersonal relationship between employees. 2. Area of the study is confined to the employees in Chennai only.r = 2 n1n2 (n1+ n2)2 (n1+ n2-1 ) Lower limit = µr + (2. age condition of economy etc. 6.

Alternate hypothesis (H1): There is a significant difference in the rank assigned by respondents towards the attributes that gives them satisfaction in the company. ONE RUN TEST Null hypothesis (H0): .714 Table value : 1158 Calculated value is more than table value therefore reject H0 Result: There is a significant difference in the rank assigned by respondents towards the attributes that gives them satisfaction in the company. KENDALL S COEFFICIENT OF CONCORDANCE Null hypothesis (H0): There is a no significant difference in the rank assigned by respondents towards the attributes that gives them satisfaction in the company. Ranking Based on Satisfaction K=20 Salary Superior Role Team Coordination Work responsibilities Rules and Policies Physical work environment Training Calculated value : S= 5815.Calculated value is more than table value therefore accept H0 Result: There is a significant relationship between overall satisfaction and aspects of job.

good things happen for customers. The purpose is to compare the qualitative study. has becoming a key in why people stay and what usually drives them away from a company.1 EMPLOYEE S SATISFACTION REGARDING MONETARY BENEFITS PROVIDED BY THE COMPANY. Empower the employees: Give the employees the authority to get things done. The intention of investigating and using the Finnish company Tradeka Limited as a case company. The background of the thesis present a few articles that discuss issues that makes it important for the organization. Hire the right people in the first place.The samples are not taken randomly. Retention Management Abstract: Background: retention management is a highly topical subject and an important dilemma many organizations might face in the future. The research is based on the leaders in the Finnish case company Tradeka. and also the interest in how retention management works in practice. and talent finder. Characteristics in a leader that are of importance. How can the provision of key human resources develop a long-term relationship that makes top employees stay in the company? The study aims to establish the procedure leaders apply to retain employees. 2. . and the leaders. because employees need to feel involvement. both with supervisors and employees to get a broader view at the phenomenon retention management. made at the case company. The concept of retention management can both have a narrow. esteem builder. with findings from the thesis theoretical framework. Eleven qualitative interviews were conducted at Tradeka?s financial department.5. if not facing it already. The leader has become the main factor in what motivates people s decision to stay or leave. and a broader significance. Following key questions are intended to be answered: What are the consequences between leaders actions and employees retention? Which is the leader s role when it comes to retaining employees? Purpose statement: The purpose of the thesis is to investigate and analyze how company leaders today can retain their key employees. We believe that the leader plays a key role in employee retention and retention management. to work hard with retention management. and that their presence count. talent developer and coach. as well as a theoretical study where empirical findings and theories has been compared. For organizations to keep its key employees their number one priority should be to look at their management. is to make the information from the theories more valid. When retention is a core value. communicator. Alternate hypothesis (H1): The samples are taken randomly. Table:2. because people leave managers and not companies. Research method: The study is a qualitative. Result: Leaders and their skill in creating a culture of retention. Both parts of its significance are generally included in this thesis. employees. and the company. as the leader plays a key role in retention management is: trust builder. Employee Retention Strategies The basic practices which should be kept in mind in the employee retention strategies are: 1. The leader s relation to the employees plays a central role in retaining employees.

medium and high level. restaurants. Low Level Employee Retention Strategies Appreciating and recognizing a well done joby Personalized well done and thank-you cards from supervisorsy Congratulations e-cards or cards sent to spouses/familiesy Voicemails or messyages from top management Periodic days off for good performancey Rewards ( gift. etc. etcy Discounts in cinema halls. 7. trust and respect them 5. celebrations and gifts Providing benefitsy Home insurance plans Legal insurance Travel insurance Disability programs Providing perks: It includes coupons. Keep their morale high.Create an environment where the employees want to work and have fun. discounts. These practices can be categorized in 3 levels: Low. Keep providing them feedback on their performance. Recognize and appreciate their achievements. monetary and non monetary rewards)y Recognizing professional as well as personal significant eventsy Wedding gifts Anniversary gifts New born baby gifts Scholarships for employee s children Get well cards/flowers Birthday cards.3. Retail store discounts Computer peripherals purchase discounts Providing workplace conveniencesy On-site ATM On-site facilities for which cost is paid by employees laundry facility for bachelors Shipping services . 4. 8. rebates. 9. Make employees realize that they are the most valuable asset of the organization. certificates. museums. 6. Provide them information and knowledge. Have faith in them.

dushera.Assistance with tax calculations and submission of forms Financial planning assistance Casual dress policies Facilities for expectant mothers Parking Parenting guide Lactation rooms Flexi timings Fun at worky Celebrate birthdays. hair braiding stalls on weekends Mini cricket in office Ice cream Fridays Holi-Day breakfast Employee support in tough time or personal crisisy Personal loans for emergencies Childcare and eldercare services Employee Assistance Programs ( Counseling sessions etc) Emergency childcare services Medium Level Strategies for Employee Retention Appreciating and recognizing a well done job Special bonus for successfully completing firm-sponsored certifications Benefit programs for family support Child adoption benefits Flexible benefits Dependents care assistance Medical care reimbursement . cricket matches Organize picnics and trips for movies etc Sports outings like cricket match etc Indoor games Occasional stress relieversy Casual dress day Green is the color day Handwriting analysis Tatoo. retirements. promotions. hockey. anniversaries. holi. mehandi. etc Holiday parties and holiday gift certificates Occasional parties like diwali. etc Organize get together for watching football.

Providing conveniences at workplacey Gymnasiumsy Athletic membership programy Providing training and development and personal growth opportunitiesy Sabbatical programs Professional skills development Individualized career guidance High Level Strategies window.y Suggestion committees can be created Open door communication policy can be followed Regular feedbacks on organization s goals and activities should be taken from the employees by: Management communications Intranet and internet can be used as they provide 24X7 access to the information Newsletters. etc.y Understand employee needs: This can be done through proper management style and culturey Listen to the employee and show interest in ideasy Appreciate new ideas and reward risk-taking Show support for individual initiative Encourage creativity Encouraging professional training and development and/or personal growth opportunities: It can be done through:y Mentoring programs Performance feedback programs Provide necessary tools to the employees to achieve their professional and personal goals Getting the most out of employee interests and talents Higher study opportunities for employees Vocational counseling Offer personalized career guidance to employees Provide an environment of trust: Communication is the most important and effective way to develop trust. . notice boards. Promoting Work/Life Effectivenessy Develop flexible schedulesy Part-time schedulesy Extended leaves of absencey Develop Support Servicesy On-site day care facility etc.google_render_ad().

The new joinees should fit with the organization s culture. the physical work environment.Companies invest very many hours and monies in training and educating employees. They are the best source of networking. trust. recruits. pride and so on. More importantly. These companies are severely affected when employees check out. Retention Success Mantra Transparent Work Culture In today s fast paced business environments where employees are constantly striving to achieve business goals under time restrictions. The personality. An internship program can be followed to recruit the fresh graduates. . It induces responsibility among employees and accountability towards other peers. It is believed that in a transparent work culture employees rigorously communicate with their peers and exchange ideas and thoughts before they are finally matured in to full-blown concepts. Thus. they leave mainly because of work related stress and dissatisfactions. Although employees most often prefer to stay with the same company and use their time and experience for personal growth and development. especially in the middle of some big company project or venture. Referral bonus should be given to the employees for successful hires.Related apathy and frenzy. which gradually builds up trust and pride. The elements that are relevant to an individual s quality of work life include the task. Proper training should be given to the managers on interview and management techniques. leadership characteristics of the candidate should be in sync with the culture of the hiring organization. organizations are required to retain employees by addressing their work life issues. communication. Organizations need to be more flexible so that they develop their talented workforce and gain their commitment. Quality Of Work The success of any organization depends on how it attracts. responsibility. social environment within the organization. Closed doors work culture can serve as a deterrent to communication and trust within employees which are potential causes for work. transparency in work environment discourages work-politics which often hinders company goals as employees start to advance their personal objectives at the expense of development of The company as a single entity.More and more companies have now realized the importance of a healthy work culture and have a gamut of people management good practices for employees to have that ideal fresh work-life. and retains its workforce. The process of retention begins right from the start of the recruitment process. open minded and transparent work culture plays a vital role in employee retention. administrative system and . A transparent work environment can serve as one of the primary triggers to facilitate accountability. motivates.y Hire the right people from the beginning: employee retention is not a process that begins at the end.

Providing employees salary at par with the other counterparts of above that what competitors are paying motivates them to stick With the company for long. such as autonomous work groups. Supporting Employees Organizations these days want to protect their biggest and most valuable asset and they want to do this in a way that best suits their organizational culture. loyal. The employer and employee. Directly. Employers can also support their employees by creating an environment of trust and inculcating the organizational values into employees. Become employer of choice: What makes a company an employer of choice? Is the benefit it offers or . Suitable working time: Organizations are offering flexible work options to their employees wherein employees enjoy flexi-timings for dedicating their efforts at work. aware of their risks and rights. Providing quality work life involves taking care of the following aspects:Occupational health care: The safe work environment provides the basis for the person to enjoy working. It requires employee commitment to the organization and an environment in which this commitment can flourish. Strategies should be framed in advance and implemented when the times arrives. The work should not pose a health hazard for the person. Managing the turnover. Providing quality at work not only reduces attrition but also helps in reduced absenteeism and improved job satisfaction. People also conceive of QWL as a set of methods. A proactive approach can be adopted to reduce attrition. they provide support in terms of personal crises. The management can support employees directly or indirectly.relationship between life on and off the job. Appropriate salary: The appropriate as well as attractive salary has always been an important factor in retaining employees. indirectly. hence. Not only does QWL contribute to a company's ability to recruit quality people. Providing support to the employees acts as a mantra for retraining them. managing stress and personal development. but also it enhances a company's competitiveness. job enrichment. and high-involvement aimed at boosting the satisfaction and productivity of workers. Turnover costs should also be taken into consideration while framing these strategies. Retaining employees is a difficult task. QWL consists of opportunities for active involvement in group working arrangements or problem solving that are of mutual benefit to employees or employers. in a number of ways as follows: Manage employee turnover: Employee turnover affects the whole organization in terms of productivity. becomes an important task. Common beliefs support the contention that QWL will positively nurture amore flexible. and motivated workforce. The basic objectives of a QWL program are improved working conditions for the Employee and increase organizational effectiveness. Management can support employees. which are essential in determining the company's competitiveness. based on labor management cooperation. could achieve a lot in Their mutually beneficial dialogue.

So.Positive feedback communicates managerial satisfaction. But such times are very rare. Some managers do not provide any kind of feedback to their employees. Employees are said to be engaged when they show a positive attitude toward the organization and express a commitment to remain with the organization. Employee satisfaction also comes with high engagement levels.the compensation packages it gives away to its employees? Or is it measured in terms of how they value their employees or in terms of customer satisfaction? Becoming an employer of choice involves following a road map which tells where to go as a brand. Coaching and mentoring: Employees whose work performance suffers due to poor interpersonal relationships or because of lack of interpersonal skills should be provided proper coaching by their superiors. The amount of information employees receive about how well or how poorly they have performed is what we call feedback. It suggests where the employee performance is effective and where performance has to improve. Keeping them engaged is an important task. Positive recognition for good performance boosts up morale of employees and results in performance improvement to a higher productivity level. Due to no feedback. feedback is necessary because: It builds trust and enhances communication between manager and employee. organizations should aim to maximize the engagement among employees. Feedback Feedback acts as a channel of communication between the employee and his manager. Studies reveal the performance tends be same or even decreases if no feedback is provided. Engage the new recruits: The newly hired employees are said to be least engaged in the organization. It helps in identifying performance areas that need improvement and specific ways to improve them.Thus. It is believed that positive feedback is the only type of feedback that generates performance above the minimum acceptable level.Managers can provide either positive feedback or negative feedback to employees. Optimize employee engagement: An organization s productivity is measured not in terms of employee satisfaction but by employee engagement. However. The fresh talent should be utilized to maximum before they start feeling bored in the organization. It . maximize his potential and return to peak performance. Planed coaching sessions help an individual to work through issues. It gives managers and employees a way to identify and discuss skills and strengths. It is a dialog between a manager and an employee which acts as a way of sharing information about the performance. This feedback helps the employee assess his performance and identify the improvement areas. Moreover this improvement is short term. Positive feedback leads to employee retention and Retention. negative feedback sometimes make employee to put more efforts to improve his performance. employees may assume that they are performing productively or they may feel that the manager is satisfied with their performance. Negative feedback obviously communicates manager s dissatisfaction.

Newsletters. Same applies to employee retention also.acts as an opportunity to enhance performance by identifying resources for skill development. Intranet and many more So there should be effective communication across the organization and this communication should be two-way. It helps employees to understand the effectiveness of their performance and contributes to their overall knowledge about the work Managers have tendency to ignore good performances of their employees. Providing no feedback may demotivate employees and may lead to employee absenteeism. Frequent meetings and Social gatherings Emails. It is an opportunity for managers and employees to assess and identify career and advancement opportunities. Encoding and decoding also helps in the security of the message. Nothing is hidden and shared with the employees. There are 3 categories of employees: A: Who will leave their current employer in 3 years of their employment B: Who have a probability of leaving their current employer in next 3 years C: Who will stay with their current employer in the next 3 years Category A: These are the employees who lack communication with their employers. Employees trust the employers who are friendly and open to them. This trust leads to employee loyalty and finally retention.Communication is also the way to win the employees trust in the organization. Input from manager s side is necessary as it help employees to improve their performance and increase productivity. Employees look for organizations where communication and process are transparent.Category C: These are the employees who have proper.Communication mediums Open door policy: Organizations should support open door policies so that the employees feel comfortable and are able to express their doubts and feeling to their employers. The process of communication is incomplete without the feedback. Straight-from-the-shoulder communication is what the employees need from their employers. Employers also feel that the immediate supervisors are the most authenticated and trusted source of information for them. well structured communication with their employers. So the organizations should hire managers who are active communicators. Communication Between Employee and Employer Communication is a process in which a message is conveyed to the receiver by the sender. The message may be or may not be in a common format or language that both the sender and receiver understand. Communication is the solution to almost everything in this world. Importance Of Employee Retention . So there is a need to encode and decode the message in the process. Communication alone can lead to unimaginable heights of employee retention.

There are certain circumstances that lead to their leaving the organization. The Cost of Turnover: The cost of employee turnover adds hundreds of thousands of money to a company's expenses. he takes with him valuable knowledge about the company. the employee feels de-motivated and loses interest in job. Higher retention rates motivate potential employees to join the organization. seniors and management: Trust is the most important factor that is required for an individual to stay in the job. Loss of Company Knowledge: When an employee leaves. Often much time and money has been spent on the employee in expectation of a future return. 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. The unspoken negativity often intensifies for the remaining staff.The process of employee retention will benefit an organization in the following ways:1. Turnover leads to more turnovers: When an employee terminates. current projects and past history (sometimes to competitors). If he is given a job which mismatches his personality. When an employee leaves. Lack of appreciation: If the work is not appreciated by the supervisor. And even after this you cannot assure us of the same efficiency from the new employee What Makes Employee Leave? Employees do not leave an organization without any significant reason. . Regaining efficiency: If an employee resigns. No growth opportunities: No or less learning and growth opportunities in the current job will make candidate s job and career stagnant. then he won t be able to perform it well and will try to find out reasons to leave the job. training costs and productivity loss). the effect is felt throughout the organization. The most common reasons can be: Job is not what the employee expectedy to be: Sometimes the job responsibilities don t come out to be same as expected by the candidates. Lack of trust and support in coworkers. Job and person mismatch: A candidate may be fity to do a certain type of job which matches his personality. Co-workers are often required to pick up the slack. customers. While it is difficult to fully calculate the cost of turnover (including hiring costs. Goodwill of the company: The goodwill of a company is maintained when the attrition rates are low. Interruption of Customer Service: Customers and clients do business with a company in part because of the people. Non-supportive coworkers. Relationships are developed that encourage continued sponsorship of the business. which could lead to potential customer loss. industry experts often quote 25% of the average employee salary as a conservative estimate. seniors and management can make office environment unfriendly and difficult to work in. the relationships that employee built for the company are severed. Unexpected job responsibilities lead to job dissatisfaction. When the employee leaves. the investment is not realized.

This will help in assessing the whether the employee retention rates are healthy in the company. 2. attrition costs companies 18 months salary for each manager or professional who leaves. can lead an employee to leave the organization. Identify cost of employee turnover. 3. considering that one out of every three employees plans to leave his or her job in the next two years.Understand why employee leave. Secondly. The most effective strategy is to adopt a holistic approach to dealing with attrition. compensation. According to a survey. So an impartial person should be appointed with whom the employees feel comfortable in expressing their opinions. New job offer: An attractive job offer which an employee thinks is good for him with respect to job responsibility. Exit interviews are an ideal way of recording and analyzing the factors that have led employees to leave the organization. and 6 months pay for each hourly employee who leaves. This amounts to major organizational and financial stress. An effective retention strategy will seek to ensure: Attraction and recruitment strategies enable selection of the right candidate for each role/organization New employees initial experiences of the organization are positive Appropriate development opportunities are available to employees. a strategy is to be implemented so as to reduce employee turnover.Stress from overwork and work life imbalance: Job stress can lead to work life imbalance which ultimately many times lead to employee leaving the organization. the cost of employee turnover can be calculated. on an average. growth and learning etc. and that they are kept aware of their likely career path with the organization . Understand why employees leave : Why employees leave often puzzles top management. Implement retention strategy : Once the causes of attrition are found. They allow an organization to understand the reasons for leaving and underlying issues. Managing Employee Retention The task of managing employees can be understood as a three stage process: 1. Compensation: Better compensation packages being offered by other companies may attract employees towards themselves.Implement retention strategies The organizations should start with identifying the employee turnover rates within a particular time period and benchmark it with the competitor organizations. However employees never provide appropriate response to the asked questions.

hardly reduces turnover. tenure and other factors. followed by financial service providers and manufacturing firms. while management and top-level supervisors earn an additional 50 percent of their annual salaries. Retaining quality performers contributes to productivity of the organization and increases morale among employees/ Four basic factors that play an important role in increasing employee retention include salary and remuneration. benefits and opportunities for individual growth. According to a survey. the employees who have worked hard on it are entitled to receive the retention bonus. . bonuses range from 25 percent to 50 percent of annual salary. Although retention bonuses are becoming more common everywhere. Today. To retain its key senior employees post merger with EDS Corporation. A project has its own life span. Retention bonuses are becoming more common in the corporate world because companies are going through more transitions like mergers and acquisitions. They need to give key people an attractive incentive to stay on through these transitions to ensure productivity. However. A retention period can run somewhere between six months to three years.A retention bonus plan is not a panacea. Retention Bonus is one of the important tools that are being used to retain employees. non-management employees generally receive about 10 percent of their annual salaries in bonuses. Retention bonuses are generally vary from position to position and are paid in one lump sum at the time of termination. It can also run for a particular project. Mphasis is providing cash component based retention bonus plan for its employees. This is mainly to retain good employees and provide them a cash incentive to keep them motivated. In some companies. some industries are more likely than others to offer them. Employees are chosen for retention bonuses based on their contributions to management and the generation of revenue. some companies choose to pay a flat figure. For example. providing recognition. Companies of all sizes use retention bonus plans to keep knowledge employees retained in the company. so a retention bonus will be offered after 20 months. Retention Bonus Higher attrition rates within a particular industry have forced companies to use some innovative strategies to retain employees. these days. As long as the project gets completed. Retention bonus is an incentive paid to an employee to retain them through a critical business cycle. depending on position. While bonuses based on salary percentages are the generally used. But are they really positively contributing to the retention rates of a company? Basic salary. the implementation of a system may take 18 months. some companies pay in installments as on when the business cycle completes. Retention bonuses have proven to be a useful tool in persuading employees to stay. employees look beyond the money factor.The organization s reward strategy reflects the employee drivers How To Increase Employee Retention Companies have now realized the importance of retaining their quality workforce. Retail/wholesale companies are the most appropriate to implement stay-pay bonuses.

Hire appropriatey candidates. Manager Role in Retention When asked about why employees leave. Provide realistic job preview at the time of hiring: Mostly employees leave any Organization because they are given the real picture of their job responsibilities at the time of joining. Managers and team leaders can reduce the attrition levels considerably by creating a motivating team culture and improving the relationships with team members. value the quality of work life and provided chances for learning have loyal and engaged employees. Clearly discuss whaty is expected from the employee: Before joining the organization. internships etc. trial periods. For this the employer should understand the job requirements clearly. Or tell them before hand that their requirements can not be fulfilled. Referrals: According toy the research. However. tell the candidate what is expected from him. research has shown that people join companies. y Discuss what the expectations of the employees are: Ask employees what they expect from the organization. Don t show them an unrealistic picture. Setting wrong expectations or hiding expectations will result in early leaving of employees. Culture fit: Try to judge individual s capability toy adapt to the organization s culture. Don t hire under qualified or clearly overqualified candidates. assure challenging work. arranging a talk by the VP of Quality on career opportunities in the field of quality. If their requirements can be fulfilled only then promise them. There is a fear of hampering the image and reputation of the person who referred the candidate. Attrition rate can be reduced if a right person is hired for a right job. A drastic change in the culture may give a culture shock to the candidate. Retention does not necessarily have to come through fun events such as parties. Therefore. Employees who look forward to these events and are likely to remain more engaged. low salary comes out to be a common excuse. . celebrations.Hire Right Talent employee retention starts with recruitment. Early departures arise from the wrong recruitment process. referred candidates stay longer with the organization. It is seen that managers who respect and value employees competency. Be realistic. They can also come through serious events e.g. This can be done in a following way: Creating a Motivating Environment: Team leaders who create motivating environments are likely to keep their team members together for a longer period of time. pay attention to their aspirations. Here are a few ways to ensure how to hire the right talent for a particular job.Realistic preview of the job responsibilities can be given to the employment seekers by various methods like discussions. team outings etc. but leave because of what their managers do or don t do. managers and team leaders play an active and vital role in employee retention. Hire candidates who are actually suitable for the job.

When agents see the team leader standing up for them. However. While they need to ensure smooth functioning of their teams by implementing management decisions. Offer attractive. Delegation is a great way to develop competencies. such as loyalty. Therefore. should they get hired into the company. Managers often tend to escape this role by just coaching their employees. Consider allowing anonymous surveys occasionally so employees will be more honest and candid with their opinions. they will have one more reason to stay in the team. Providing coaching: Everyone wants to be successful in his or her current job. managers should play the role of career counselors as well.Standing up for the Team: Team leaders are closest to their team members. competitive benefits and 401(k)s. However. Rewarding and recognizing people for performance not only affects the person being recognized. seek out traits. coaching is followed by monitoring performance and providing feedback on the same.google_render_ad(). Extra Responsibility: Giving extra responsibility to employees is another way to get them engaged with the company. window. just giving the extra responsibility does not help. Organizations should target job applications for employees who have characteristics that fit well with the organizational culture. Rewards and Recognition Employees want to be recognized for a job well done. but others in the . The manager must spend good time teaching the employees of how to manage responsibilities given to them so that they don t feel over burdened. Upon conducting an interview. However. How to Improve Employee Retention People want to enjoy their work so make work fun and enjoyable. Provide opportunities within the company for career progression and cross-training. they do not delegate their jobs as much as they should. Rewards and recognition respond to this need by validating performance and motivating employees toward continuous improvement. Therefore. Delegation: Many team leaders and managers feel that they are the only people who can do a particular task or job. Provide 360 feedback surveys and other questionnaires to foster open communication. not everyone knows how. Therefore. ask the potential employee what motivates them on the job. Focus on future career: Employees are always concerned about their future career. Also. If an employee sees that his current job offers a path towards their future career aspirations. they also need to educate their managers about the realities on the ground. Understand that employees need to balance life and work so offer flexible starting times and core hours. Having more information about the potential employee s expectations can help retain them. then they are likely to stay longer in the company. A manager should focus on showing employees his career ladder. one of the key responsibilities will be providing coaching that is intended to improve the performance of employees.

or. Employees should be asked for input on their most desirable form of recognition. more frequent payouts. Rewards are to be immediate. Nonmonetary rewards. Rewards that are spontaneous (sometimes called on-the-spot awards) are also highly motivating and should also use a set criteria and standard to maintain credibility and meaning. the following guidelines should be considered. A Harvard University study concluded that organizations can avoid the disruption caused by employee turnover by avoiding hiring mistakes and selecting and retaining top performers. rewards are meaningful. Rewards are one of the keys to avoiding turnover. that employee might be given a spa membership. however.organization as well. Organizations may want to evaluate whether getting a bonus at the end of the year is more or less rewarding than getting smaller. and personal. For example. Amour. Designing a Rewards and and Recognition Solution In designing a rewards and recognition program. Professionalism in presenting the reward is also interpreted as worthwhile recognition. or that others in the organization are rewarded for the wrong behaviors. an avid camper might be given a 10-day pass to a campsite. Recognition for a job well done fills the employees' need to receive positive. if the reward system is broken. 2000). Additionally. Unrecognized and nonvalued performance can contribute to turnover. Rewards should be visible to all members of the organization. especially if they are immediate. Rewards should be achievable and not out of reach by employees. A cash award of $50 would be inappropriate for someone who just recommended a process that saved the organization a million . When the reward system is credible. Need for Rewards and Recognition Recognition should be part of the organization's culture because it contributes to both employee satisfaction and retention. Rewards can be based on an event (achieving a designated goal) or based on a time frame (performing well over a specific time period). Through a rewards program. if an individual enjoys physical activity. a personal note may mean more than a generic company award. the opposite effect will occur. the entire organization can experience the commitment to excellence. Rewards should be appropriate to the level of accomplishment received. and personal. Organizations can avoid employee turnover by rewarding top performers. Employees may feel that their performance is unrecognized and not valued. One of the keys to avoiding turnover is to make rewards count. Use what employees say when it comes time to reward for performance (St. Rewards should have meaning and value for the recipient. honest feedback for their efforts. credible standards that have been developed using observable achievements. appropriate. Rewards should be based on well-defined. appropriate. The nonmonetary rewards are best received when they are thoughtfully prepared and of highest quality. if used. should be valued by the individual.

employees can be rewarded using money in numerous ways.dollars. One of the most popular awards at First Data is called the "Fat Cat Award" that consists of: $500 gift check Professional portrait of the employee Appreciation letter from the CEO and senior management E-mails. If the reward is based on an unachievable result. rewards and recognition should be based on a clear set of standards. with performance verifiable or observable. Cash is a welcome motivator and reward for improving performance. Small acts of recognition are valuable for employee daily Retention.000 individuals in Omaha. uses a formal recognition program (Adams. phone calls. Determining the amount of money given is a delicate matter of organizational debate in which organizational history. 2000): Employee of the month awards Years of service awards Bonus pay (above and beyond overtime) for weekend work Invitations for technicians to technical shows and other industry events Meaningful and Retentional Rewards What gives meaning to rewards and recognition? What makes them effective? First. and other items. a data processing services company that employees more than 6. The problem of retention is compounded by the predicted talent shortage . Case Studies Employee Retention Best Practices in Keeping and Motivating Employees By LisBeth Claus Ask any CEO of an organization. What keeps you awake at night? and you will get a response that relates to people management issues. and yearly basis. Mahaffey. financial parameters. and Rick. mugs. Profit sharing and pay-for-skilis are monetary bonus plans that both motivate individuals and improve goal achievement. Recognition for a job well done can be just as valued and appreciated as monetary awards. pens. Formal recognition program can be used with success. First Data Resources. Nebraska. Meaningful rewards and recognition that are achievable have the greatest impact. private. Variable bonuses linked to performance are another popular reward strategy. Rewards are given on a monthly. employees cited the following as meaningful rewards (Moss. plaques. then those employees will not be motivated. and desired results are all factors. and retain the right people. and notes from peers In addition to nonmonetary rewards. public or nonprofit) is its capacity to attract. a main concern for any organization (whether small or large. whether at formal meetings or on the spot. such as a production goal that is beyond employees' power. quarterly. gift certificates. 2002). Sometimes a personal note may mean more than a generic company award. and range from Nebraska football tickets. The standards for the reward should also be achievable. In one survey. engage.

which consist of four categories: the hiring process. the employee needs to have a Swedish university degree. the scarcity of talent with relevant work skills for today s jobs. the person needs practical experience for a specific period of time. keeping employees for longer periods is an imp-ortant challenge for firms. Maja Cassel. responsibility.resulting from the upcoming retirement of the baby boomers. Furthermore. It is a fact that a too high turnover rate affects companies in a negative way and retention strategies should therefore be high on the agenda. we have been able to conclude that the firm s retention practices are to a great extend in line with the theoretical framework. Due to these statements the challenge of retaining and motivating valuable em-ployees is crucial for the auditing firms. Firstly. EMM (Entrepreneurskap. development and work-atmosphere in the Swedish financial Sector. [2008] Abstract: Introduction: Companies today are forced to function in a world full of change and complexity. fairness. Linda Lindgren. 2001). Research and human resource practices provide us with a number of recommendations to increase employee retention. such as having a holistic and long-term orientation. Retention: An explanatory study of Swedish employees in the financial sector regarding leadership style. responsibility. remuneration and elements like participation. remuneration and elements towards job satisfaction University essay from Växjö universitet/Ekonomihögskolan Author: Sanna Paulsson. fairness. We have compared the findings to our chosen theory. such as an individua-lized reward system and communication between managers and employees. and finally culture and leader-ship. at Auditing Company X. Elina Armanto.In our conducted case study. When looking at this problem area we found that there may be actions and tools that companies could use to come to terms with this problem. How Auditing Company X Works with Retaining Valuable Employees : Swedish Case study University essay from Högskolan i Jönköping/IHH. development and work-atmosphere is important for job satisfaction and retention. motivation and performance. Yet. Management) Author: Josip Bogic. including specific courses within au-diting/accounting. There are some areas that need further attention from the company. autonomy. and it is more important than ever to have the right employees in order to survive the surrounding competition. the changing values about work and the high cost of turnover. feedback. remuneration and elements such as participation. feedback. autonomy. These four categories are initially based on Leigh Branham?s book: ?Keeping the people who keep you in business: 24 ways to hang on to your most valuable talent? (Bran-ham. which is why we have chosen to do a case study at Auditing Company X to see how they work with employee retention. Marknadsföring. Method: We wanted to investigate how employee of the Swedish financial sector prefers to be . Even though there are some parts to work on the most important aspects of retention. Research told us that leadership. [2008] Abstract: Today. in-ternal labor market and career. this because certain requirements are needed to become an auditor. Auditing Company X seems to have incorporated this into their practices successfully. Object: The main objective is to increase the understanding regarding employee s retention in relation to leadership style. neither employees nor employers seem to take for granted that a person will stay with the same firm until retirement. One industry where retention is interesting is the auditing industry in Sweden.

[2007-09-03T08:22:31Z] Abstract: Background: retention management is a highly topical subject and an important dilemma many organizations might face in the future. Maria Helnius. autonomy.Retention Management University essay from Göteborgs universitet/Företagsekonomiska institutionen Author: Lisa Hedberg. The survey has a quantitative approach with a web based questionnaire and includes 129 respondents from banks. made at the case company. esteem builder. and a broader significance. and that their . feedback. base pay with additional bonus and benefits were preferred.retained. What leaders can do to keep their key employees . Eleven qualitative interviews were conducted at Tradeka?s financial department. and when asking how the remuneration system should be designed. The leader s relation to the employees plays a central role in retaining employees. as the leader plays a key role in retention management is: trust builder. The theoretical framework includes leadership and leadership style. to work hard with retention management. if not facing it already. and how they consider and react to the chosen areas. has becoming a key in why people stay and what usually drives them away from a company. fairness. The purpose is to compare the qualitative study. Conclusion: The result shows that regarding leadership the respondents prefer leadership based on relations were they feel appreciation. and also the interest in how retention management works in practice. responsibility. both with supervisors and employees to get a broader view at the phenomenon retention management. and talent finder. The intention of investigating and using the Finnish company Tradeka Limited as a case company. insurance and finance companies. The leader has become the main factor in what motivates people s decision to stay or leave. More money was the most common reason for wanting to change jobs. Characteristics in a leader that are of importance. fairness. How can the provision of key human resources develop a long-term relationship that makes top employees stay in the company? The study aims to establish the procedure leaders apply to retain employees. and the leaders. We believe that the leader plays a key role in employee retention and retention management. financial as well as nonfinancial remuneration and research done in later years regarding participation. development and workatmosphere must be taken in consideration to satisfy since they seem to increase employees? Willingness to stay in the company. The concept of retention management can both have a narrow. Following key questions are intended to be answered: What are the consequences between leaders actions and employees retention? Which is the leader s role when it comes to retaining employees? Purpose statement: The purpose of the thesis is to investigate and analyze how company leaders today can retain their key employees. communicator. as well as a theoretical study where empirical findings and theories has been compared. responsibility. autonomy. because people leave managers and not companies. talent developer and coach. For organizations to keep its key employees their number one priority should be to look at their management. Both parts of its significance are generally included in this thesis. Result: Leaders and their skill in creating a culture of retention. development and work-atmosphere connected to retention. The background of the thesis present a few articles that discuss issues that makes it important for the organization. But also non financial factors such as participation. The research is based on the leaders in the Finnish case company Tradeka. Both appreciations from the closest manager as well as the company management influences employee job satisfaction in a positive way. is to make the information from the theories more valid. feedback. Research method: The study is a qualitative. because employees need to feel involvement. with findings from the thesis theoretical framework.

When retention is a core value. · It is found out that. · It is found out that. employees. 83% of respondents feel that workload is manageable and 10% of respondents feel that workload is very hard to manage. 74% of respondents feel that superiors are taking efforts to motivate them and 26% of respondents feel that superiors are not taking efforts to motivate them. 51% of respondents feel that their complaints are resolved quickly and 49% of respondents feel that their complaints are not resolved quickly. 78% of respondents skills are recognized by superiors and 22% of respondents skills are not recognized by superiors. . 82% of respondents are able to meet superior s expectation and 18% respondents are not able to meet superior s expectation. · It is found out that. · It is found out that. · It is found out that. · It is found out that. · It is found out that. · From weighted Average analysis it is found that respondents feel that training and orientation programs are neither good nor bad.57% of respondents feels that there pay is on par with compare to employee s handling similar responsibilities.presence count. 70% of respondents are satisfied with hygiene and cleanliness of company infrastructure and 30% of respondents are not satisfied with hygiene and cleanliness of company infrastructure. 76% of respondents are getting right amount of accurate information at right time and 24% of respondents are not getting right amount of accurate information at right time. · From weighted Average analysis it is found that employees feel that their superior's commitment towards job is good. · From weighted Average analysis it is found that most of the respondents are satisfied with job. and the company.55% of respondents feels that the field worker are able to get updates on internal activities. · It is found out that. good things happen for customers. · It is found out that. and 39% of respondents feels that there pay is less with compare to employee s handling similar responsibilities. 40% of respondents are satisfied with Availability of system. storage facilities of company. · It is found out that. 89% of respondents feel that the superiors are easily accessible and 11% of respondents feel that the superiors are not easily accessible. FINDINGS · It is found out that. 40% of respondents are aware of HR Policies and 60 % of respondents are not aware of HR Policies. storage facilities of company and 60% of respondents are not satisfied with Availability of system. · It is found out that. · From weighted Average analysis it is found that most of the respondents are satisfied with the working hours of the organization · From weighted Average analysis it is found that roles & responsibilities are clearly defined by the Reporting heads. and 45% of respondents feels that the field worker are not able to get updates on internal activities.

Job rotation involves shifting an incumbent from one job to another. The Human Relations Movement posits that social contacts will motivate workers. Task variety helps motivate job holders.· From chi-square it is found that there is a significant relationship between Work Culture of the Company and interpersonal relationship between employees. Conclusion Retention is an important concept that has been receiving considerable attention from academicians. They are quality oriented. An enriched job has added responsibilities. They are more productive. · From chi-square it is found that there is a significant relationship between overall satisfaction and aspects of job. Whatever may be the arguments. · From chi-square it is found that there is a no significant relationship between overall satisfaction and Commitment towards Company. two factor theory of Retention. however. Early theories are too simplistic in their approach towards Retention. Job enlargement refers to adding a few more task elements horizontally. search and choice of strategies. · From Kendall s coefficient of concordance it is found that there is a significant difference in the rank assigned by respondents towards the attributes that gives them satisfaction in the company. Employee should be motivated to welcome the change. Reward. The increasing attention paid towards Retention is justified because of several reasons. In its essence. goal-directed behavior. Retention comprises important elements such as the need or content. Motivated employees come out with new ways of doing jobs. job enrichment is considered to be a powerful motivator. Any technology needs motivated employees to adopt it successfully. particularly money. it can be stated that money can influence some people in certain circumstance. Develop an attractive employee value proposition. SUGGESTIONS Employee should be provided with proper training.One such technique is reward. · From One Run Test it is found that the samples are taken randomly. researchers and practicing HR managers. and performance-satisfaction. They need to have certain techniques that help them change the behavior of employees. is a motivator according to need-based and process theories of Retention. Recommendations 1. Being an outgrowth of Herzberg s. social comparison of rewards reinforcement. For the behavioral scientists. advocates of scientific Management believe that money is the motivating factor. Several approaches to Retention are available. Employee should be appreciated for good work. An employee value proposition means that your company has something attractive to offer that is . Mere knowledge about the theories of Retention will not help manager their subordinates. money is not important as a motivator. If any changes are brought in to software or any module is added then proper training should be given. For example. The makes the job interesting and rewarding.

The total reward structure should include.perceived as valuable to an employee. Employees are shifting their loyalty to people. It is imperative to provide supervisors and managers with adequate tools to become effective managers since we cannot assume that these competencies are . in addition to compensation. Give feedback on employee performance on a regular basis. Ongoing performance feedback allows employees to better know where they stand. What messages do they send to others about their employer? Are they honestly saying and believing that. To attract and retain workers with different work and career expectations. Branding yourself as an employer of choice is not just a slick set of marketing tactics. Employees have become more connected with others in the organization (and the broader supply-andcustomer chain) through project-based team work and process management activities. While money might temporarily retain employees. productivity and quality. This is a great place to work. This feedback contributes to employee engagement and retention. Most managers and employees are not enamored with the performance appraisal process in their organization. indicates that their managers pay attention to them and that their performance matters. It calls for a different managerial mindset and practices that involve letting go of old ways of controlling workers time and attendance in favor of result criteria such as output. They want more flexible ways to engage with their employer. teams and projects and away from company loyalty. yet. People want a chance to make a difference and realize themselves. as an employer. Create a culture of engagement. That self-realization is multi-dimensional and different for each employee. It is organizations that create the culture and climate that allow people. processes and projects to become fully connected and engaged with one another. Engaged employees are more likely to stay with their employer. it does not always equate with engagement. support for employees to attain their personal objectives aligned with the goals of their organization. yet. Train managers to be effective. an effective performance management process serves many purposes. The best advocates for an employer s brand are its current employees. gives them a formal means to provide input. Workers more and more value a balance between work and life. Every company should have all the normal compensation mechanisms common to their type of employment. Create a total reward structure that includes more than compensation. organizations have to be more flexible in structuring work and its expectations. 2. Be flexible in terms of work-life balance. total rewards packages go far beyond money. 5. Exit interviews consistently show that poor and bad management practices greatly contribute to an employee s decision to leave a company. 3. you must understand what makes your organization attractive to potential recruits and current employees. 4. 6.

Professor Patrick Connor. BIBLIOGRAPHY BOOKS · Human Resource Management C. they work for themselves.innate.Memoria · Research methodology C. is famous among MBA students and alumni for his Connorisms. I have them reflect on what really matters to employees and what they are constantly asking of their managers and their organizations. When I teach my students about managing organizations. your employees do not work for you. Newspaper and Internet .Kothari · Journals. He told them. recently retired after teaching 25 years at the atkinson Graduate school of Management. what employees expect of their managers is fairly simple: Can I trust you? are you committed to excellence? Do you care about me? What people constantly ask of their organization is: Do you tell the truth? Do you keep promises? Do you act fairly? Do you respect me? Managers and organizations that keep these questions in mind will have a competitive advantage over others in retaining their employees.R.B. In the end.

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