Retention Strategy - Mid Size Organisation - PPTX Download

Dear All,

I am working as an HR professional in a mid-sized organization. I have attached a few retention tools for your review and would appreciate your feedback. I strongly believe that implementing these strategies will help us minimize attrition.

Please share your thoughts on whether these strategies would be effective for a mid-sized organization. Additionally, I would appreciate any suggestions for other strategies.

Specifically, I am seeking strategies to prevent new employees from absconding within a few months of joining.

Regards,
Kavitha

The presentation you have prepared is really nice work, and it covers many aspects that work as a retention strategy.

The most important thing to prevent attrition is to make your employees feel good working in your company. Based on that, you should prepare company policies.

Dear Kavitha,

You have shared the presentation. Have you prepared the presentation? On slide No. 2, you have given data on why people stay. But then what is the source of this information? Who has conducted this survey, where was it conducted, and what was the sample size? There is no information. Above all, you are working in HR. Have you tried implementing the strategies that you have shared with others? Which worked best for you? Which did not work and why? What other challenges did you face in implementing these strategies? Are the strategies mentioned in the PPT your wishlist? These details are more important than the presentation itself.

Thanks,
Dinesh V Divekar

Dear Dinesh,

Thanks for your time in looking into the PPT and sharing your views. Yes, I had prepared this PPT based on my views. I feel these strategies would work out to retain an employee to a certain extent. The survey conducted was in general; I got it from Google, hence I am not aware of the sample size. Could you please put forth your views on whether these strategies would work out for a mid-sized org? Also, I would appreciate a few suggestions from your end on "Retention Strategy."

Regards,
Kavitha

Dear Kavitha,

Good to note that you have taken my views in the right spirit.

When we quote some data, it is important to cite the source of information. Please note.

Yes, retention strategies will surely work. However, these will differ from one industry to another and also from one company to another. For example, TCS and a mid-sized IT company in Chennai are from the same industry, but retention challenges would differ for both.

Coming back to slide No. 2 again, what your slide does not mention is "employee empowerment." In India, there is no empowerment to speak of. Decision-making is heavily centralized. Frankly speaking, businesses in India are controlled by certain castes. They have their own way of doing business; it is in their DNA. These individuals will never change, no matter what. The new generation may have acquired MBA degrees from foreign universities, but the ground reality has not changed at all.

In the same slide, the positive aspects of retentions, i.e., dos, are mentioned. But what about the don'ts? Employee retention also depends on the motivating work environment. Motivations needs differ from person to person. What is the use of retaining an employee who is not necessarily motivated? He/she may stick to the company for different reasons. Click the following links to read my reply on employee motivation:

- https://www.citehr.com/427885-motiva...ml#post1934498
- https://www.citehr.com/455372-techni...ml#post2040493

Employee exit is not bad per se. If an exited employee becomes a positive spokesperson for the job, then what else do you need?

Thanks,

Dinesh V Divekar

Dear Dinesh,

I completely agree with you. For a mid-size IT company, could you please suggest some retention strategies?

A few concerns which I am facing are quite high levels of unauthorized absence within one month of joining. I also want to retain my long-term employees. Would an employee development program work?

Regards,
Kavitha

Dear Kavitha,

I have gone through your PowerPoint presentation; it's quite nice, and you have tried to cover many aspects.

I would like to suggest the following:

1. If you want your employees to be retained, then "keep them inspired."

2. Activities like peer appreciation should also be taken up.

3. Visible perks like cookware, refrigerator, and cars do become a retaining factor for the firm.

4. Security aspects like reimbursement of hospitalization expenses in reputed hospitals for family members, parents, etc., also have a big impact on the retention of employees.

5. Free abroad tours for employees sponsored by the company for learning, education, or could be a sabbatical for education, etc., can also become a retaining factor.

6. Identifying strengths and weaknesses of employees, creating an action plan for improvements, and also creating an individual development plan by training and coaching them for the next higher-level position is also a retaining factor.

7. Implementing engagement initiatives like a formal communication framework, listening exercises, and enhancing leadership skills.

8. Team-building activities can also be taken up along with exercises to identify weak areas in the team and also creating action plans for improvement.

9. A "CULTURE OF RESPECT" should be created, which does go a long way in retaining employees.

Remember that employees can be retained by giving them the "INTANGIBLES," which are difficult for competitors to replicate.

Hope this helps you.

Dear Vishal,

Thanks for your suggestions. The overall concept I got from you... will work on it. If you could brief me on what exact activities can be implemented in a mid-sized organization for retention, that would be very helpful.

Regards,
Kavitha

Dear Kavitha,
For mid sized organisations following activities can be taken up:-
Identifying individual areas of improvement and making action plans in form of training.
Talent Engagement initiatives like Formal Communication framework – Listening exercises, town halls, Birthday bash, Motivational Guru Poornima day, customer delight day.
teambuilding activities.
Fun at Work activities at organization level.
SWOT analysis
Hope this is the exact answer you are expecting in terms of exact activities.If still not please revert.

Dear Vishal,

Currently, we are conducting these activities at regular intervals, but my management team feels that these activities contribute only a little part to retention. My main concern is retaining new joiners who leave the organization within a month due to unauthorized absence.

Please provide a brief explanation of SWOT analysis. Is there a particular way to conduct this?

Regards,
Kavitha

Dear Kavitha,

For new joiners, you will have to chalk out ways to find out what were the exact reasons for them to abscond. This can be done by taking a closer look or studying how their department is functioning. In my experience, when I encountered such a problem, we did a study of the way that the new joiners' department is working by analyzing people's behavior, gathering facts of what was happening in the department in a discreet yet informal way.

We also spoke to the friends of the new joiners, and thus, many reasons for their absconding could be traced from all this. Create informal groups that will also help you provide good insights in this regard. Please also ensure that there is proper hand-holding for the new joiners in the organization. In many cases, assigning a buddy alone is not enough. Maintain interaction with new joiners to understand their problems, grievances formally and informally.

For SWOT analysis, you can focus on a particular department or combine 2-3 departments for a brainstorming session. Alternatively, you can also conduct a survey in your organization which will provide good insights on your organization's strengths and weaknesses, both internal and external. You may also make use of targeted questionnaires.

Please also analyze your organization from the following aspects: staffing - does your organization have the right number and quality of people, Systems and Policies - what kind of policies and systems are prevailing in line with culture, Shared values - are the values understood by all employees and are they being practiced.

Hope this helps.

Kindly see [Asda rolls out degree programme for staff - Yahoo! Finance UK](http://uk.finance.yahoo.com/news/asda-rolls-degree-programme-staff-193507135.html) to understand what a supermarket chain is doing in the UK.

Hello Kavita,

Your presentation and comments from seniors and experts are useful and informative. I am also working on the employee retention policy for the company. Preparing on pen and paper is easy, but it is very difficult in implementing the same. I would like to add that competitive pay, a positive working environment, and continuous development programs are major factors for employee retention. Besides this, an open house and a proper grievance address system will be an added advantage. Kindly keep me updated about your experiences in implementing.