employee retention

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MANAGING EMPLOYEE

TURNOVER

By

Swetha

Swathi

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OUR ASSET WALK OUT OF THE OUR ASSET WALK OUT OF THE DOOR EACH EVENING .WE DOOR EACH EVENING .WE HAVE TO MAKE SURE THAT HAVE TO MAKE SURE THAT

THEY COME BACK THE NEXT THEY COME BACK THE NEXT MORNING.MORNING.

- NARAYANA MURTHY CHIEF MENTOR OF INFOSYS

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Turnover? The ratio of

the number of workers that had to be replaced in a given time period to the average number of workers.

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Why an employee Why an employee leaves an organization?leaves an organization?

Monetary factorsLack of good working conditions

Inflexible working schedules

Lack of respect

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Very few supportive Colleagues

More concern of organization towards business

Increase in favoritisms

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Lack of appreciationLack of challenges in job

Mismatch between job and person

Less frequency in giving rewards

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Too little coaching and feedbackLack of supportStress from overwork and life imbalanceLoss of trust and confidence in senior leaders

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Who is responsible for attrition?

- Poll result

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How to manage How to manage turnover?turnover?

1.OFFER COMPENSATION - Attractive and competitive

2. BENEFITS NEED TO BE QUANTIFIED AND QUALITATIVE

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3. ROLES AND RESPONSIBILITIES NEEDS TO BE DOVETAILED4. OFFER RETENTION BONUS 5. GO IN FOR EMPLOYEE ENGAGEMENT PRACTICES

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6.TEAMWORK AND CROSS FUNCTIONAL TEAMS

7. FUN IS MUST

8. ASSIGNMENTS FOR JOB ENRICHMENT

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9.DEVELOP AN EFFECTIVE INDUCTION PROGRAM

10. VALUE YOUR EMPLOYEES

11. TRANSPARENCY IN COMMUNICATION

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12.Open doors

13.Demotivation to work on holidays

14.People care index

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Re-Hiring Ex-Employees

IN ORDER TO CONTROL ATTRITION, ORGANISATIONS TODAY ARE RE-HIRING THEIR EX-EMPLOYEES WHO HAD QUIT THEIR JOBS ON A PLEASANT NOTE.

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Conclusion

“If you truly respect, appreciate and treat your employees wonderfully, you’ll never lose them” !!!

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ReferencesReferenceshttp://www.piworldwide.com

http://www.allbusiness.com

http://www.ehow.com

http://retentionconnection.com

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