Need Your Advice For Employees Retention - DOC Download

We are a Steel manufacturing unit in Maharashtra. There has been significant employee turned around in our company. After valuable training employees leaving our organization and joining the other companies, even though our compensation policy is reasonable.
In order to retain such employees can we keep their original certificate in our custody until the fulfillment of contractual agreement?
I kindly request experts here to advise me or give alternate solution to this perennial problem.
Thank you very much.

Dear Prashant,
Thank you very much for your instant response.
In regards to your question regading exit interview. No, we did not had an exit interview; as you suggested we will start with this. Till date our understanding is that they have been offered better position and compensation as they are well trained and experienced.
As addtional collateral can we take custody of their original certificate which will be returned once they fullfill their contractual agreement?
Thanks once gains.

Bonded labours are prohibited in India be careful before starting any such activity.
If the employee are leave for Better position & better companesation then don/t you have any plan regarding " Succession Planning"?

@ Mr. Jagdish,
Yes I believe there would have been something else, we are also trying to find out the concrete reasons.
Thanks you for the response.
@ Mr. Prashant,
Well there is a practice in India where IT companies are taking employees certificate in their custody at the time of appointment; is it so why not other industry.
When you have a fair contract as per law of land; question of bonded labor does not arises. Can you please clarify your stand on certificate custody issue please.
Thanks Jagdish and Prashant.

hi please find attached document of retention policy

As a HR I too worked for 1.5 years in a large steel industry.As per my experience,
you can think upon below points
1- Revised your appraisal policy .
2- Implement promotion policy as said by prashant.
3- Increase the level of employee engagement with the firm.
4-If you can,try to implement a flexible and wide Overtime policy.
5- Find out in which area of operations,employee turnover is high.If possible have a discussion with few of left employee over a phone on their off day.
6- Ensure any work place bully is there resulting form supervisory bureaucracy
7-Arrange employee welfare activities through program like family get together.
8- Ensure that organization vision and mission is clearly known to all employee.If not,arrange seminars to highlight the vision of management.
I think this may be helpful for you.
Mangesh Wakodkar
Aurangabad

Dear,
Keeping Original Certificate of an Employee as security is Elegal and you can not mention it anywhere as a valid document.
Please try to understand what I want to state. Do not waste your time by thinking the security policy by which you can keep an Employee with you. There is no provision in the Constitution of India by which we can detain an Employee with us with out his/her wish.
It will be batter if you give importance to know the reason why Employees are not willing to continue in your Organisation. You will definitely get the reason.
You can notice a big Psychological change among the Employment class which greatly affected the Organisations since last decade. Now a days Employees are more aware about their Job Security then money. Employees can compromise with salary if getting a good professional environment which can provide them a good expo user in future.

Firstly i am fully satisfied with prashant.you need to start exit interview at ur organizaion to find the backgroud factors for turnover ratio. and secondly need to review ur compensation policy.because money play a vital role in motovating a employee for stay in a job or to change...
Regards
Sunil Sharma

Retention of an employee\'s original qualification papers is highly illegal apart from being immoral.
I would definitely suggest obtaining a bond from the employee duly countersigned by a family member or a Net worthy person. This is a compulsive method.
There are other methods. You may yourself chalk out a future development program for the employee. This may include not only the scope of climbing up the ladder in your own organisation but also other market futures.
One needs to look at the employees point of view also and the solution lies in development of a long term strategy.