In any Company, an employee quits the company for so many reasons, and if the Management of the company is not having a proper employee retention plan and an effective policy which may be rewarding to the employee who is performing and if growth in the company is certain for the right employee then a company may not lose its employees.
The Management has to ascertain the truth behind if so ever any employee leaves the company for whatsoever reason and a good employee who quits on his own will severe the company in the following ways.
1.Loss in Production.
2.Cost and time involved in recruiting a new employee.
3.Time consumption in training of the new employee.
4.Client relationship the employee had gained while in the company is a matter of concern.
5.Frustration and stress involved within the time frame for the new employee to join the team.
So in brief retaining the existing talents in the company is the best possible solution any company may adapt, and it does not always means hiking the market trend and paying more than existing pay packages in a similar company relevant to your line of operation and always the best method is to fine tune the pay package linking with production and turnover and performance, and if it may involve Activities in the sales department a pay package or incentive based pay check directly linked with the gross turnover can be the possible option in retaining a talented employee.
An employee may leave the company for the following reasons.
1.Politics in the company.
2.Frustration and constant friction with the team members.
3.No growth in the company is predicted or foreseen.
4.Negative environment in the workplace.
5.Low salary when compared in the market.
6.Bureaucratic or diplomacy in the hierarchy system.
7.Lack of challenging work or monotonous working style.
8.Lack of proper supervision.
9.lack of required resources or materials essential for quicker and better performance.
If in an organization, a couple of talented employees or few of them have concluded and decided to quit the job and the Management quick reaction can be to investigate the reasons behind the same in all possible manners.
If a competitor is trying to intrigue your work force then a firm decision has to be taken wisely, and a board meeting or arbitration of serious concern within the management had to be taken.
When an employee is serious in quitting his job and trying to Allure more from your company to your competitor firm and a stern action of discipline needs to be taken by the management and if an employee is serious in quitting the job and if you had employed all possible maneuver to retain him and the employee is firm in his decision and then the best possible way is quickly and firmly palliate the candidate and start looking out for an alternate candidate with all possible sources and alternatives.
Murali Reddy is the CEO Bangalore Secretary Services and offers Staffing Solutions Bangalore Secretary Services is a staffing firm assisting individuals and corporations in making the right employment fit.
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