Exploring New Global HR Terms: Share Your Insights on Retention Strategies and More

Hi all! 😄

I just want to share more knowledge about various approaches and terms developing in global HR. Here, interested people can introduce new terms and share all the knowledge they have about them.

For example, my topic is "Retention Strategies & the Need for Employee Retention." I request all HR professionals, students, and managers to share their knowledge and experiences.

Tools of Retention of Employees:

Tools that I know are:
1. Recognition
2. Training & Development
3. Provision of motivational factors like higher pay
4. Employee referral for recruitment

If any other tools are applied in practice, please help out by providing your comments.

1. Empowering the staff by giving them both additional responsibility and authority.

2. Non-financial incentives like Idea Award, Best Employee Award, etc.

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RETENTION!!!!!!!!!!a tough nut to crack for d companies in the current scenario.
Your rising stars are employees who are highly valued for their expertise and who have the talent that's vital to the success of your business. In this competitive employment environment, how do you retain them? How do you polish them?
Sme of the effective tools used by sme leadn companies are :
:arrow:
· Coaching
· Mentoring
· Promotion
· Training
· Job rotation
· Job enlargement
· Succession planning
· Assessment and development centres
:!:
Regards
Aanchal

Hi Anshal,

Thank you for your reply. I have received all the tools, but I am unsure about mentoring. Could you please explain what mentoring is exactly and how it is used?

Regards,
Yashswa

"Mentoring is to support and encourage people to manage their own learning in order that they may maximize their potential, develop their skills, improve their performance, and become the person they want to be."
- Eric Parsloe, The Oxford School of Coaching & Mentoring

The Power of Mentoring

Mentoring is a powerful personal development and empowerment tool. It is an effective way of helping people to progress in their careers and is becoming increasingly popular as its potential is realized. It is a partnership between two people (mentor and mentee) normally working in a similar field or sharing similar experiences. It is a helpful relationship based upon mutual trust and respect.

Role of a Mentor

A mentor is a guide who can help the mentee to find the right direction and who can help them to develop solutions to career issues. Mentors rely on having had similar experiences to gain empathy with the mentee and an understanding of their issues. Mentoring provides the mentee with an opportunity to think about career options and progress.

Benefits of Mentoring

A mentor should help the mentee to believe in herself/himself and boost his/her confidence. A mentor should ask questions and challenge while providing guidance and encouragement. Mentoring allows the mentee to explore new ideas in confidence. It is a chance to look more closely at yourself, your issues, opportunities, and what you want in life. Mentoring is about becoming more self-aware, taking responsibility for your life, and directing your life in the direction you decide, rather than leaving it to chance.