How Can HR Strategically Retain Key Employees Without Just Offering Raises?

Retaining Key Employees: A Strategic Approach

It is always a very important issue in almost all companies that some of the key employees change their jobs frequently. This poses a significant challenge for management in retaining them due to various issues. My question is, as an HR professional, how can we plan to retain key personnel in the company? While offering an immediate salary increase or other incentives might work, we should also have a long-term career plan in place to retain these key employees. I invite you to brainstorm ideas on this matter.

Regards,
Benny M Joy

Nowadays, key personnel are leaving due to the overloading of responsibilities. Endeavor to balance their workload. Introduce some sort of ESOP or retention bonus with a lock-in period.

Regards, R. Ponraj

Retention is not a one-day activity! It happens from the day a new employee joins hands with the company. It covers from Induction-Deployment-Outcome (I.DO). It's the I.DO activity that regulates an employee's stay within the organization. Proper Induction, Deployment, Training, Employee Engagement, Work-Life Balance (WLB), Counseling, Appraisals, Work Environment, Reporting Authority, Grievances, and so on!

So, my friend, in an organization, we need not those who work for money but for a career, learning, and growth! Any clarifications, please get back to me!