Employee Retention Strategies - Base Pay
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Employee Retention Strategies - Base Pay

S Vishwanathan Started The Discussion:

Dear HR professionals, Can u please provide some information on the Employee Retention Strategies followed across the different industries ? Regards, S Vishwanathan

S Vishwanathan - Member Since: Jan 2006
Dear HR professionals, Can u please provide some information on the Employee Retention Strategies followed across the different industries ? Regards, S Vishwanathan

S Vishwanathan - Member Since: Jan 2006
Dear HR professionals, Can u please provide some information on the Employee Retention Strategies followed across the different industries ? Regards, S Vishwanathan

jayavelk_mba - Member Since: May 2005
Hi

I have posted the general techniques through which an employee can be retained in an organisation. An employee works for your organization and will be loyal only when there is consensus between the management and the employees. There should a clear understanding between both the parties and the management has to approve the requirements by the time the employee thinks about it....


Five Strategies for Retaining Employees

Retaining employees and developing a stable work force involves a two-step process -- understanding why employees leave in the first place, and developing and implementing strategies to get them to stay.

Employees leave jobs for five main reasons:

Poor working conditions


Lack of appreciation


Lack of support


Lack of opportunity for advancement


Inadequate compensation

Overcoming these reasons requires the implementation of five distinct categories of retention strategies:


Environmental strategies create and maintain a workplace that attracts, retains and nourishes good people.


Relationship strategies focus on how you treat your people and how they treat each other.


Support strategies involve giving people the tools, equipment and information to get the job done.


Growth strategies deal with personal and professional growth.

Compensation strategies cover the broad spectrum of total compensation, not just base pay and salary.

Top Tips for Retaining Employees

To retain their employees, companies should implement the following best practices:

Hire right to begin with.


Engage in longer orientations with new employees.


Live the values.


Use creative rewards and recognition.


Create annual personal growth plans for each employee.


Consider non-compete agreements.


Recruiter-proof your company.


Make it easy for people to get their jobs done.


Do corporate succession planning.


Conduct exit interviews with employees who resign.

Retaining Key Employees

By focusing on key players who truly make or break your business, you can get the most leverage from your employee retention efforts. Retaining key employees requires a five-step process:

Identify key employees and positions.


Know what motivates your key employees on an individual level.


Provide a deferred compensation plan.


Monitor and manage key employee performance.


Review key employees annually.

Using Benefits as an Employee Retention Tool

Employee benefits provide a powerful tool for attracting and retaining top-notch employees. To design a retention-oriented benefits program, use the following steps:

Create a benefits mission statement.


Identify your audience and their specific benefits wants and needs.


Define a benefits budget that fits within the financial constraints of the company.


Give employees as much control as possible over their benefits.


Communicate the plan.

Creative Rewards and Recognition

Reward people for specific behaviors/results.


Make your rewards program simple and easy to understand.


Get employees involved in designing and running the program.


Make it fun!.

with warm regards
k.jayavel (09894805856)

jayavelk_mba - Member Since: May 2005
Hi

I have posted the general techniques through which an employee can be retained in an organisation. An employee works for your organization and will be loyal only when there is consensus between the management and the employees. There should a clear understanding between both the parties and the management has to approve the requirements by the time the employee thinks about it....


Five Strategies for Retaining Employees

Retaining employees and developing a stable work force involves a two-step process -- understanding why employees leave in the first place, and developing and implementing strategies to get them to stay.

Employees leave jobs for five main reasons:

Poor working conditions


Lack of appreciation


Lack of support


Lack of opportunity for advancement


Inadequate compensation

Overcoming these reasons requires the implementation of five distinct categories of retention strategies:


Environmental strategies create and maintain a workplace that attracts, retains and nourishes good people.


Relationship strategies focus on how you treat your people and how they treat each other.


Support strategies involve giving people the tools, equipment and information to get the job done.


Growth strategies deal with personal and professional growth.

Compensation strategies cover the broad spectrum of total compensation, not just base pay and salary.

Top Tips for Retaining Employees

To retain their employees, companies should implement the following best practices:

Hire right to begin with.


Engage in longer orientations with new employees.


Live the values.


Use creative rewards and recognition.


Create annual personal growth plans for each employee.


Consider non-compete agreements.


Recruiter-proof your company.


Make it easy for people to get their jobs done.


Do corporate succession planning.


Conduct exit interviews with employees who resign.

Retaining Key Employees

By focusing on key players who truly make or break your business, you can get the most leverage from your employee retention efforts. Retaining key employees requires a five-step process:

Identify key employees and positions.


Know what motivates your key employees on an individual level.


Provide a deferred compensation plan.


Monitor and manage key employee performance.


Review key employees annually.

Using Benefits as an Employee Retention Tool

Employee benefits provide a powerful tool for attracting and retaining top-notch employees. To design a retention-oriented benefits program, use the following steps:

Create a benefits mission statement.


Identify your audience and their specific benefits wants and needs.


Define a benefits budget that fits within the financial constraints of the company.


Give employees as much control as possible over their benefits.


Communicate the plan.

Creative Rewards and Recognition

Reward people for specific behaviors/results.


Make your rewards program simple and easy to understand.


Get employees involved in designing and running the program.


Make it fun!.

with warm regards
k.jayavel (09894805856)

jayavelk_mba - Member Since: May 2005
Hi

I have posted the general techniques through which an employee can be retained in an organisation. An employee works for your organization and will be loyal only when there is consensus between the management and the employees. There should a clear understanding between both the parties and the management has to approve the requirements by the time the employee thinks about it....


Five Strategies for Retaining Employees

Retaining employees and developing a stable work force involves a two-step process -- understanding why employees leave in the first place, and developing and implementing strategies to get them to stay.

Employees leave jobs for five main reasons:

Poor working conditions


Lack of appreciation


Lack of support


Lack of opportunity for advancement


Inadequate compensation

Overcoming these reasons requires the implementation of five distinct categories of retention strategies:


Environmental strategies create and maintain a workplace that attracts, retains and nourishes good people.


Relationship strategies focus on how you treat your people and how they treat each other.


Support strategies involve giving people the tools, equipment and information to get the job done.


Growth strategies deal with personal and professional growth.

Compensation strategies cover the broad spectrum of total compensation, not just base pay and salary.

Top Tips for Retaining Employees

To retain their employees, companies should implement the following best practices:

Hire right to begin with.


Engage in longer orientations with new employees.


Live the values.


Use creative rewards and recognition.


Create annual personal growth plans for each employee.


Consider non-compete agreements.


Recruiter-proof your company.


Make it easy for people to get their jobs done.


Do corporate succession planning.


Conduct exit interviews with employees who resign.

Retaining Key Employees

By focusing on key players who truly make or break your business, you can get the most leverage from your employee retention efforts. Retaining key employees requires a five-step process:

Identify key employees and positions.


Know what motivates your key employees on an individual level.


Provide a deferred compensation plan.


Monitor and manage key employee performance.


Review key employees annually.

Using Benefits as an Employee Retention Tool

Employee benefits provide a powerful tool for attracting and retaining top-notch employees. To design a retention-oriented benefits program, use the following steps:

Create a benefits mission statement.


Identify your audience and their specific benefits wants and needs.


Define a benefits budget that fits within the financial constraints of the company.


Give employees as much control as possible over their benefits.


Communicate the plan.

Creative Rewards and Recognition

Reward people for specific behaviors/results.


Make your rewards program simple and easy to understand.


Get employees involved in designing and running the program.


Make it fun!.

with warm regards
k.jayavel (09894805856)

anntsi - Member Since: Jun 2008
Dear professionals, Can u plz teel me under which part of HR does employee retention come. can u plz giv names of reference books on the topic Rgrds, anntsi

Rajeev Verma - Member Since: Apr 2008
Dear S Vishwanathan, I enclosing a file containing an article on hiring and keeping best people. May you can take some ideas from that article.


Attached FilesProvided by community member Rajeev Verma. Join us to learn and grow with your peers.
File Type: pdf Hiring and Keeping the Best People - Richard Luecke.pdf (773.2 KB, 671 views)
rohitminton - Member Since: Mar 2008
Dear Mr. Vishwanathan, Please find this article attached. You may find it useful. I request all members to send their feedback/comments on this. Best Regards, Rohit


Attached FilesProvided by community member rohitminton. Join us to learn and grow with your peers.
File Type: pdf Employee Retention Tools.pdf (17.9 KB, 1032 views)
itsforyouravi - Member Since: Oct 2007
Hi

I am ravi and did my project on employee retention. Please find the attached PPT so it could help you

I request people to give their feed back on this PPT. Will be looking forward for your reply...

thanks,
Rvi
9703204590


Attached FilesProvided by community member itsforyouravi. Join us to learn and grow with your peers.
File Type: ppt retention.fial.ppt (542.5 KB, 881 views)


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