The retention of employees is one of the key issues for any company. Companies focus on creating a recruitment pipeline to supply workforce, however it is also important to focus on existing staff to encourage them to remain with the employer. Retaining employees is a result of combined actions for new and existing employees that are taken by the employer.
Many times HR Leaders fail to gaze the balance between turnover and retention, what is going on in specific staff groups, departments, and teams. During the work programme, several key retention themes emerged which are explored in more detail in this guide. These are:
1. Blooming the organisational values and culture
2. Flexible working Culture
3. Helping employees in
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8th October 2017 From India, Delhi
Incentive to Employees in the form of deferred compensation, when in a policy framed judiciously brings in a number of advantages, both for Employers and Employees. Examples are:-
1. Motivation to Employees providing encouragement and simulation to improve productivity.
2. Creation of a spirit amongst Employees to enhance the image of the Employers in general public.
3. Recognition for high achievers and Key Personnel.
4. Appreciation for good work.
5. A tool for retention of Key Employees in employment for a longer duration.
6. Reduction in Attrition Rate of Employees.
7. An opportunity for High Income Earning Employees to defer their Tax Liability to a future period.
Organization can offer other forms of deferred Incentives. Few are listed below:-
A. Incentive in Form of Property (i.e. Villas, Flats, Plots etc.)
B. Incentive in Form of Gold.
C. Incentive in Form of Deferred Annuities Plans.
D. Incentive in Form of Insurance Plans.
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26th June 2019 From India, Delhi