Looking For Retention Policy - CiteHR
Amitmhrm
Hr Practices
RadhikaPallav
Recruiter
Deepti.HR
Independent Hr Consultant, Staffing &

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Dear Friends
I am working in a Multinational Telecom Industry. I have to work on Retention Policy. Though we have so many motivational programs but still due to competition there is a huge attrition in our Company.
Please help me by proposing some Retention Policy. If someone is already have this Policy in their Organisation then please share with me as I need it on a very urgent basis.
Rgds.
Deepti

Hi Deepti,

Here is some guidelines that you can apply in your Organisation-

1. Show employees that you have an interest in their success

60 to 70 per cent of workers do not feel that their companies help them to develop their career. Managers of successful companies are acutely aware that even the most brilliant business model will not work without skilled individuals motivated by a culture of management concern.

2. Allow employees the room to develop their skills

Many employees find themselves trapped in a narrow job function so mission-critical that the organisation cannot afford to move them. Frustrated employees, unable to satisfy their need for growth, resign, leaving holes that disrupt the company’s workflow in the short term. The company also loses strong performers who could have filled other, more important, roles over the long term.

3. Give employees a clear idea of the long-term goals of the company

Three quarters of unhappy employees do not believe that their company knows where it is going. Companies should endeavour to change their perceptions by communicating effectively to employees the direction it wants to take. This should be followed up with behaviour that is consistent with what they have told employees!

4. Measure soft skills

Many companies say they value people and train their management team to cope with people issues. Yet these same managers are rewarded based on their technical skills and financial results. Too often, people skills are not rewarded and no measure exists to evaluate them. Employees get the message that, “people skills don’t matter” and so neither do people.

5. Fight turnover with smart training

Two principles can help companies score big retention wins through training. Firstly, keep it relevant. Some firms act as though any training is better than none. From the employees’ perspective, that is not true. If training is not relevant to their jobs they feel it is a waste of time. Secondly, use training to broaden experience. Companies too often provide training that merely reinforces old skills instead of building new ones.

6. Develop your management team

People see good bosses as the wind beneath their wings, and employees who lack confidence in their bosses will leave the organisation sooner rather than later. A key retention strategy is to weed out marginal managers. Replace them with managers who can craft a compelling game plan, communicate it effectively to their teams and deploy initiatives that are consistent with company strategy.

7. Weed out poor performers in non-management ranks

Managers often under-estimate how strongly employees resent the presence of underperformers within their work group. The productive employee often has to take on more work to compensate for the poor performance of others, and they can feel that management is either turning a blind eye to unjust practices, or does not have sufficient interest in what goes on “below decks” to notice any disparity in working practices amongst employees. When the slackers are weeded out, both morale and retention improve.

And yes share the experience after implementation.

Amit Seth.

Hi Deepti,
U Welcome,
But Sorry,Don't have any Policy with myself regarding the same. These are some actions that you can implement in your system. And definitely it will give a good result. Don't forget to notify how much it was useful.
Amit Seth.

Hi Deepthi:

All you have to do is what ever Amit has shared is the best as of now to start on with.

If your management insist on a document, then copy the points of Amit. Use in your creativity in understanding, how best it could be planned for your company.

For instance: (Amit's view points)

1. Show employees that you have an interest in their success

This you could split it to - Social & official. Under official split it further to Induviduals performers, Team performers - How you would recognize them, How would be there growth within the company, How the management is planning to support them with sponsors or travel opportunities.. (you will have to detail them down,...make sure you cover it for every levels in your organization), as the need is urgent, you could start at higher level and then modify it as you need.

2. Allow employees the room to develop their skills

You could make it interesting by understanding what your employees want. Circulate a list of interest that would be appropriate to your business among your employees, you will be more than surprised to receive the response, which will make it clear for your to accomodate them...

like - on job training, library access, travelling - client place, further studies, certification, softskill training,

3. Give employees a clear idea of the long-term goals of the company

Plan out a quarterly meeting with the Team and the Mangement to understand where the company is headed and future plans. Make sure the future risk, new assignment and focus is shared, this brings in lot of oneness among the teams.

Amit: has stated some of the fundamental points, you could work out from it. He has given you the best.

Good effort Amit..

I am sure,with your creativity you could make it up a best document. All the best

Regards

Radhika

Hi Deepti/Radhika,

Here are some points to understand the same-

Carol's Top Ten Best Practices for Retention

To retain top talent, many companies would do well to take a page from the

books of companies who already have high levels of employee satisfaction and

retention. Through her work with multinational organizations and small start-ups,

Carol Barber has developed a list of best practices followed by those companies

who enjoy great morale and high retention.

1. They know who they are and hire for "fit"

Through employee focus groups, external perception studies and continuous selfexamination,

these companies have an understanding of their cultures and the

personality traits that lead to success within them. They are very often not

disturbed over a longer than average time-to-fill, as they, with their employees'

endorsement, would rather have a job go unfilled than fill it with the wrong

person. Their employees have told me they prefer to carry more of a load for a

period of time than work with less than "A" players.

One of my HR clients once told me, "This is a very demanding and competitive

environment. We look for people who will thrive under those circumstances. "

While some workers would perceive demanding and competitive as downright

undesirable, others would be highly stimulated by it. Recruiting for that company

is always skewed to the latter group, and not surprising, its retention rate is very

impressive.

2. They sweat the details of on-boarding

Since these companies put so much into recruiting the right talent, they don't

want people falling through the cracks when they start work. They have wellplanned

on-boarding processes to help employees quickly assimilate and begin

to contribute. And, just to make sure they're doing the right thing, they ask for

post-hire feedback on the hiring and on-boarding process. When I 've conducted

these types of interviews with employees in best-practice companies, they

always share amazement over how great the entire experience was. And wouldn't

you know, they almost always have ideas for how it could have been improved,

which my clients are happy to hear and consider.

3. They set clear expectations and objectives

These companies see employees as partners in the business, and provide them

with every detail of what's expected and how their performance will be measured.

All of them conduct regular employee performance reviews, but more than that,

they've trained their supervisors and managers to provide continuous feedback.

This eliminates any surprise element from performance reviews and gives

employees specific, job-related areas for focus and/or improvement. Many

workers have told me how much they appreciate knowing where they stand

all the time.

Carol's Top Ten Best Practices for Retention

Carol Barber

Senior Vice President

Bernard Hodes Group

hodes.com 888 . 438 . 9911

4. They provide training and development at all levels

Employees have told me their company's commitment to employee development

is a key reason for staying. Today's workers know how quickly things are changing,

and they want to work with companies that will help them keep their skills and

knowledge at the cutting edge. And, of course, training and development

activities, coupled with career growth based on mastering new skills, have

wondrous effects on employee morale and satisfaction.

5. They don't wait for trouble to find them

Rather than taking a no news is good news posture, these companies have devised

ways to keep tabs on their workforces' pulse. Any change in mood or attitude is

important to them, and they prefer to deal with issues before they fester into big

problems. Whether through employee relations specialists, confidential feedback

processes or employee focus groups, best-practice companies never shy away from

learning the truth or dealing with what they learn.

6. They value open communications above all else

Best-practice companies are where you find CEOs who post their own performance

reviews for everyone to see. They're where employees hear about business initiatives

and/or results before the outside world does. These companies place a huge

emphasis on building internal communications tools, like Intranet sites and webbased

conferencing platforms, to keep their employees informed and engaged.

The last people they want to surprise are their own team members.

7. They believe in work/life balance

These are companies that recognize their employees juggle the demands of family,

work and life in general. To ensure their employees can manage it all, they lead

the way in paid time off, job sharing, flexible scheduling and many alternative

work arrangements. They would rather have people on the job who can focus and

produce at top levels, than people who are too exhausted and stressed out to

think straight.

8. They view workforce diversity as a competitive advantage

In today's business world, enlightened companies realize their customers come

from all walks of life and have distinct opinions, desires and needs. Best-practice

companies aggressively pursue top talent from diverse backgrounds as a catalyst

for growth and success. But, they don't stop there. They ensure collaboration and

understanding among employees through diversity training, affinity networks and

cultural awareness programs.

9. They understand the power of teamwork

Employees in high-performing companies have told me how exciting it is to work

on complex projects--some of which may cross international boundaries--and

discover that no matter where their coworkers are from or located, the level of

commitment to driving results is always the same. I t seems to me best-practice

companies know that teamwork fosters confidence, trust and respect among

employees.

10. They never think they have it right

The best-practice companies I 've worked with are inclined to shrug off accolades

and recognition with comments like, "We think we can do better. " I t's not false

modesty, they mean it. That's why they're always exploring new ways to understand

what their employees want and need to succeed. I t's a continuous loop of quality

improvement. As one of my clients said to me, "The minute we think we have it

nailed, we're dead. "

hodes.com 888 . 438 . 9911

Dear Friends Thank you all for your valuable suggestions. I would definelty work on this and would let you know by couple of months what impact it would bring on my organization. Thanks Deepti
Hi Deepti, Its our pleasure, sure we are also waiting for your comments after implementation. Amit Seth.
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