Employee Turnover in Chandigarh: What Non-Monetary Benefits Can Foster Loyalty?

Hi,

Our company is an America-based software company. In India, we operate through Chandigarh, and there is frequent employee turnover. I want to reduce it. So, my question is: what are the non-monetary benefits that we can offer our employees so that they can feel a part of the company?

Thanks,
Anuradha
Sr. HR Executive

Hi Radha1512,

I don't see your question, but from your thread, let me understand what you will ask about. In my company, there are several key persons whom we refer to as the "think tank" of our organization. Management has provided these key persons with:

- Better benefits
- Better rewards
- Better positions
- Etc.

Thanks, Bambang

Hey Radha,

In your puzzled question, I have become. 🙄 Waiting for your question... ❓ 💡

Regards, Majestuoso

Hi,

My question is: How would you retain your key employees? Additionally, what HR practices would you implement besides salary raises?

Thank you.

Hi,

Hardly any employee changes jobs solely for money at key positions, except for personal or family reasons. No one changes jobs just for a salary increase. If such a situation does occur, it is only the top management to be blamed, as it seems that fairness is lacking before firmness.

Outbursts of key employees are also a significant psychological problem that requires HR attention, but if the top management is not fair, HR personnel may also seek change. This insight comes from my personal experience; I am not an HR professional.

I hope you will consider forwarding this message to the top management if you agree and wish to convey these points to them.

Regards,
Suresh

Hi Radha G,

If you can motivate your employees, you will get what you deserve. It is better to change the environment and try to behave towards them as a friend.

Regards,
Yogesh

Hi,

Besides giving a good raise, offer them extra benefits such as a short vacation for the family, a fortnightly bash, a monthly trip to a resort on the outskirts, and some useful gifts. I think it works. But all said, developing a good organizational culture will definitely help you in retaining them.

Ramesh

Hi, Employee retention is ably executed by the following measures:

- Improved working conditions
- Promotions and vertical redeployments
- Salary review
- Transparent Performance Management System implementation
- Effective Compensation and Benefits Scheme
- Flatter Organogram which aids
- Regular communication and feedback
- Idea schemes, for example, successful employee business plans via a suggestion box to which incentives are tied. I introduced this in the organization I belong to.
- Paid vacations for key employees
- Bonuses
- Recognition of effort via commendation letters, etc.

Hope this helps.
Imoisili

Hi Radha,

Don't confuse, it's nothing but a human approach; also, a matter of loyalty between Key Personnel and the Organization. They are treated as key role players because they understand the theme, mission, vision, target, and all through a long-time relationship with the organization, creating a vice versa effect. When each one is well known to each other, there should be openness in pay, perks, and facilities, which may be at market rate or above the market rate.

The best practice is to study them carefully from psychology to need-based enhancement, which will surely help to retain them. Giving additional benefits and compensation will also help, such as family care practices, any new allowances, new creative vacations, etc., depending on the criteria.

Thanks,
Tarun

By implementing the best HR practices in the organization such as:

1. Congenial working environment
2. Better performance rewards
3. Better perks available in reputable companies
4. Concessional housing loans
5. Lucrative ESOPs right from the start.

Regards,
Ashok K. Gupta

Madam,

Your question is: How to retain a key person in an organization?

In my experience, my daughter was working in an organization with a background of M.Com., M.Phil., and MBA qualifications. The required qualification was a simple graduation.

One of her colleagues had the character of acting as a spy and conveying all unwanted small shortcomings in official careers to the boss, thus threatening all the employees to leave the organization.

The organization is also not taking care of the situation, even though they are well aware that all employees are well and contributing their highest potential. The salary in the organization was also good, Rs 30,000.00 per month.

The main motivation for this individual is that he should not be surpassed in his career and he is willing to go to any extent to prevent that. Consequently, a number of employees in that department have left the organization to date.

Therefore, HR should investigate why employees from a specific department are resigning despite good compensation. Employees should be given the opportunity to express their grievances, and swift action should be taken to eliminate such culprits.

Although I advised my daughter to discuss this with HR, she mentioned that private organizations are not like government departments where employees are given a chance to speak.

Currently, she is pursuing her Ph.D. I suggest examining why people are leaving, especially if it is from a particular department, and taking immediate action for resolution.

Warm regards,

C K Jambulingam alias Sengailingam