Employee Retention

Hey all,

Im working on a final project on Employee Retention. I would like to know if there are any measurement tools that are used for Employee Retention so that I could give it a more practical perspective. Thanks a lot.

- Jyoti

Hi, Jyoti
one of the most important point for employee retention is employee relationship
you have to get involved with your workforce and see what are their greviences and complaints
secondly you have to award the employee for his good work and introduce systems where the employee gets benefits on yearly or quaterly basis ...increment and bonus is also a part off employee retention

hope this might help u

Regards

Rakshak N Shetty

Hi Jyoti,

Analyse the exit interview data to find out the reasons..

Employee Survey may provide broad outline on the issues to be dealt with vis-a-vis attrition.

Money alone cannot be tool alone to retain the talent but one has to address the myraid cultural issues of the organization and more importantly review two factors -

1. Work processes

2. Managers who run the show and deal with nitty gritty of the personal issues of employees.

Also, you can refer my article on retention strategies in this forum..may provide some insight.

Have a great day.

Regards,

Rajat Joshi

Hey Rakshak and Rajat,

Thanks a lot for your inputs. I would find out more about them and inculcate them in my project.

- JP

Hello Jyoti

I always tell my fellow colleagues to do the basics, correctly. "Employee Retention Process" starts from Interview.

Your communication Policy.
Career Planning.
Transprancy in Performance Appraisal.
Succession Planning.
Work environment.
Medical Benefits
Retirement Benefits

Ensure these things and I am sure that you will be able to control the attrition rate.

You will get a good data from your "Employee Satisfaction Survey" and "Exit Interview Details"

These are the things...which helps a lot in retaining people...in any industry.

You can also refer to the article... Employee Retention Process and Your Marriage (Link to the article: http://ezinearticles.com/?Employee-R...s-and-Your-Mar riage&id=368554)

I hope this will help. Feel free to ask any query.

Regards
Sanjeev Sharma
(Blog: http://sanjeevhimachali.blogspot.com/)

Hi jyoti, Employee retention cannot be measured using simple rating instruments. It is a very complex problem which has links to several factors. The main reason for an employee to stay or leave is a mixture of several influences working on his mind. Some of these influences may be at the sub conscious level too making it difficult to detect even for the person concerned. ("I dont know what's wrong here, but somehow, I simply want to leave") The personality related factors are extremely powerful in deciding whether to continue or quit, that we cannot have a common measuring tool to either detect or analyse the process of attrition.
However, academic inferences can be made by studying the causes for employees staying back beyond an average period of time( through a well designed survey) and by the causes for attrition( exit interviews).

best wishes

Rajeev.V