Main retention strategies
This is not an exhaustive list, one can add or delete any of the below mentioned strategies. Secondly, the need of the hour is to have "right basics". Every individual is different, his needs are different, and his emotions, his problems are different. So, dear HR-ProfessionalsˇKsit down and concentrate on your basics.
1. Communications - Getting Your People to Care
Communication is the first step toward creating the kind of environment that people care about, and if they care, they just may stay. At any time, all of employees should have a pretty good idea of how business has been, and they should be aware of what issues the company is attempting to address. Listen to employees when they have ideas for improvement. Again, the benefits extend beyond just making people feel appreciated for their contributions. These are, after all, the people who do the work every day. They may have some ideas to improve productivity, and when they do come up with one, let everybody know where it came from. Post a "brag board" in your break room, or circulate an internal newsletter that touts these contributions.
2. Set Clear Expectations
Setting expectations initiates the process. Managers need to sit down with each employee and clearly define what's expected of them. Management consultant, Kenneth Philips, states that when expectations are not clear, employees may not be in sync with their job's current demands and priorities. Setting expectations is not a once and done activity. Jobs change. Priorities change. Resources change. Managers need to revise and set new expectations throughout the year. Setting expectations revolves around the following three areas:
„X Key job responsibilities
„X Performance factors and standards
Why is a setting expectation important? Quite simply, this process can be the cornerstone of improving the motivational climate within your sphere of responsibility. If your employees know what is expected of them, it allows them to focus on results and to monitor themselves against the set standards. Environments in which expectations are not clear, or change from week to week, seldom create high-performing work groups.
The three principles that should drive expectations are clarity, relevance, and simplicity.
Clarity. Expectations should focus on outcomes, not activities. In other words, we achieve clarity when we identify the expected results rather than the method for achieving them. Managers often make the mistake of attempting to direct the process that an employee will use rather than being clear about results. The advantage of identifying the outcome is that you, the manager, focus only on the goal; after all, the employee will develop the method for achieving the desired results.
Defining the objective often requires some thought on the part of the manager because it is easy to fall into the "activities trap." While developing a strategic plan for a department or division is a worthy activity, it does not represent an outcome. In the activities trap, developing a plan is the goal, rather than increasing your market share.
Relevance. The principle of relevance helps define the "why" of the assignment. If your employees have a full understanding of the project's importance, they can make adjustments as unanticipated factors crop up within the process. They probably also will be more committed to the result because they can see more easily how it fits into the big picture and how their efforts impact the company.
This understanding typically is accomplished through dialogue between the manager and subordinate, which allows for a more thorough review of the situation and for feedback and discussion. This process builds good will with the employee and sets the stage for additional responsibilities.
Simplicity. Simplicity creates a sense of grounding for employees as they endeavor to carry out assignments. If managers identify the work in simple, straightforward terms, employees will find it much easier to follow through on managers' wishes. To accomplish this, a manager must identify the key message in a fashion that the employee can embrace.
30th August 2007 From India, Bangalore
First of all try to find out the problems of the employee.
Why the employee want to quit?
If the reason is hike in the salary, If u the employee is good you show him some hike he will definitely stay back.
If the problem is with the collegues, try to sit with the team & try to solve the problem.
If he has some personal problems, Try to discuss if possible find out the solution from your side.
let the employees come up with their problems, solve them as early as possible.
Retention of the Empoyees is an asset to the company
30th August 2007 From India, Hyderabad