Hanging on to Employees
Employee retention is one of the greatest challenges that organizations in today’s dynamic working environment have to face. In fact, it has become such a problem that employers are willing to try almost anything to retain employees.
Here are a few tips:
1. Freedom to work. Rather than imposing how tasks are accomplished, let the employee decide how he/she does and accomplishes his/her work. Interrupting employees unnecessarily creates distraction and kills creativity.
2. Teamwork culture. An organization’s success lies in group effort that is interconnected and interdependent among the employees. Supervisors and managers need to revise their role to become team leaders rather than dictators.Suitable titles include coach, team leader, mentor etc.
3. Open performance management systems. The performance management systems of a company need to be crystal clear and based on objectives that both parties have agreed to. It is advisable to communicate to the employee what is expected from them and how they can improve their shortcomings during a performance management session.
4. Retaining the Champions. As per the trend, high achievers tend to switch jobs more often compared to the average workforce. To retain this high potential group, focus on developing their skills and professional needs.
5. 100% Retention. A hundred percent retention within a company is not a good idea and in indicative that there is something wrong in the setup. A reasonable quota for turnover is a good idea.