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Hi!

One of the most important aspects of HRM is retention strategies, especially in a company that employs Engineers who are paid comparatively less than what they would get in the market. Could someone suggest some good retention strategies?

Regards,
Shalini
[Hard work and sincerity always pays., yes it does]

From India, Mumbai
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Hi!

One of the most important aspects of HRM is retention strategies, especially in a company that has engineers who are paid comparatively less than what they would get in the market. Could someone suggest some good retention strategies?

Regards,
Shalini
[Hard work and sincerity always pay. Yes, it does.]

From India, Mumbai
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Hi ,
Retention is directly proportional to the Organization Culture, so make sure that your organization has a conducive culture fro employees to operate.
Provide continuous trainings and learning opportunities to your employees so that bith the organization and individual talent level increases.
Continuously reward and recognize talent in the organization.
Eliminate hierarchy and try creating ownership in the individual, by this the employee will gain ownership and will be satisfied with his current job.
Continuously focus on employee welfare activities like continuous education etc.
Organize get together programs, cultural events etc so that the employees don't feel the work pressure.
Make the employee feel valued and provide visibility to the employee, this may be done by 1 on 1 sessions with the Manager's Manager or business head.
Hope this helps you.
Regards
Sathiya

From India, Madras
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Hi Shalini,

Here are some interesting Retention Tools which I came across-

1. Offer fair and competitive salaries. Fair compensation alone does not guarantee employee loyalty, but offering below-market wages makes it much more likely that employees will look for work elsewhere. In fact, research shows that if incomes lag behind comparable jobs at a company across town by more than 10 percent, workers are likely to bolt. To retain workers, conduct regular reviews of the salaries you offer for all job titles — entry-level, experienced staff and supervisory-level. Compare your department's salaries with statistically reliable averages. If there are significant discrepancies, you probably should consider making adjustments to ensure that you are in line with the marketplace.

2. Remember that benefits are important too. Although benefits are not a key reason why employees stick with a company, the benefits you offer can't be markedly worse than those offered by your competitors

3. Train your front-line supervisors, managers and administrators. It can't be said often enough: People stay or leave because of their bosses, not their companies. A good employee/manager relationship is critical to employee satisfaction and retention. Make sure your managers aren't driving technologists away. Give them the training they need to develop good supervisory and people-management skills.

4. Clearly define roles and responsibilities. Develop a formal job description for each title or position in your department. Make sure your employees know what is expected of them every day, what types of decisions they are allowed to make on their own, and to whom they are supposed to report.

5. Provide adequate advancement opportunities. To foster employee loyalty, implement a career ladder and make sure employees know what they must do to earn a promotion. Conduct regular performance reviews to identify employees' strengths and weaknesses, and help them improve in areas that will lead to job advancement. A clear professional development plan gives employees an incentive to stick around.

6. Offer retention bonuses instead of sign-on bonuses. Worker longevity typically is rewarded with an annual raise and additional vacation time after three, five or 10 years. But why not offer other seniority-based rewards such as a paid membership in the employee's professional association after one year, a paid membership to a local gym after two years, and full reimbursement for the cost of the employee's uniforms after three years? Retention packages also could be designed to raise the salaries of technologists who become credentialed in additional specialty areas, obtain additional education or take on more responsibility. Sign-on bonuses encourage technologists to skip from job to job, while retention packages offer incentives for staying.

7. Make someone accountable for retention. Measure your turnover rate and hold someone (maybe you!) responsible for reducing it. In too many workplaces, no one is held accountable when employees leave, so nothing is done to encourage retention.

8. Conduct employee satisfaction surveys. You won't know what's wrong ... or what's right … unless you ask. To check the pulse of your workplace, conduct anonymous employee satisfaction surveys on a regular basis. One idea: Ask employees what they want more of and what they want less of.

9. Foster an environment of teamwork. It takes effort to build an effective team, but the result is greater productivity, better use of resources, improved customer service and increased morale. Here are a few ideas to foster a team environment in your department:

• Make sure everyone understands the department's purpose, mission or goal.

• Encourage discussion, participation and the sharing of ideas.

• Rotate leadership responsibilities depending on your employees' abilities and the needs of the team.

• Involve employees in decisions; ask them to help make decisions through consensus and collaboration.

• Encourage team members to show appreciation to their colleagues for superior performance or achievement.

10. Reduce the paperwork burden. If your technologists spend nearly as much time filling out paperwork, it's time for a change. Paperwork pressures can add to the stress and burnout that employees feel. Eliminate unnecessary paperwork; convert more paperwork to an electronic format; and hire non-tech administrative staff to take over as much of the paperwork burden as is allowed under legal or regulatory restrictions.

11. Make room for fun. Celebrate successes and recognize when milestones are reached. Potluck lunches, birthday parties, employee picnics and creative contests will help remind people why your company is a great place to work.

12. Write a mission statement for your department. Everyone wants to feel that they are working toward a meaningful, worthwhile goal. Work with your staff to develop a departmental mission statement, and then publicly post it for everyone to see. Make sure employees understand how their contribution is important.

13. Provide a variety of assignments. Identify your employees' talents and then encourage them to stretch their abilities into new areas. Do you have a great "teacher" on staff? Encourage him/ her to lead an in-service or present a poster session on an interesting case. Have someone who likes planning and coordinating events? Ask him to organize a departmental open house. Know a good critical-thinker? Ask him/ her to work with a vendor to customize applications training on a new piece of equipment. A variety of challenging assignments helps keep the workplace stimulating.

14. Communicate openly. Employees are more loyal to a company when they believe managers keep them informed about key issues. Is a corporate merger in the works? Is a major expansion on the horizon? Your employees would rather hear it from you than from the evening newscast. It is nearly impossible for a manager to "over-communicate."

15. Encourage learning. Create opportunities for your technologists to grow and learn. Reimburse them for CE courses, seminars and professional meetings; discuss recent journal articles with them; ask them to research a new scheduling method for the department. Encourage every employee to learn at least one new thing every week, and you'll create a work force that is excited, motivated and committed.

16. Be flexible. Today's employees have many commitments outside their job, often including responsibility for children, aging parents, chronic health conditions and other issues. They will be loyal to workplaces that make their lives more convenient by offering on-site childcare centers, on-site hair styling and dry cleaning, flexible work hours, part-time positions, job-sharing or similar practices. For example, employees of school-age children might appreciate the option to work nine months a year and have the summers off to be with their children.

17. Develop an effective orientation program. Implement a formal orientation program that's at least three weeks long and includes a thorough overview of every area of your department and an introduction to other departments. Assign a senior staff member to act as a mentor to the new employee throughout the orientation period. Develop a checklist of topics that need to be covered and check in with the new employee at the end of the orientation period to ensure that all topics were adequately addressed.

18. Give people the best equipment and supplies possible. No one wants to work with equipment that's old or constantly breaking down. Ensure that your equipment is properly maintained, and regularly upgrade machinery, computers and software. In addition, provide employees with the highest quality supplies you can afford. Cheap, leaky pens may seem like a small thing, but they can add to employees' overall stress level.

19. Show your employees that you value them. Recognize outstanding achievements promptly and publicly, but also take time to comment on the many small contributions your staff makes every day to the organization's mission. Don't forget — these are the people who make you look good!

Regards,

Amit Seth.

From India, Ahmadabad
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Hi Amith,

Thanks a lot for the informative content; it was practical and helpful. As an HR Manager, it assists me greatly in implementing strategies for my employees. I have already incorporated some of the methods you mentioned in your post. Please continue to share such valuable information regularly.

BYE! 😀


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Amit, you are a gem. The strategies are wonderful and useful. Also, can you suggest the various salary slabs for IT professionals and BPOs for an experience level of 0 to 6 years? The company size is 100.

Thanks,
Shravan

From India, Hyderabad
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Dear Amit,

Thank you so much for the following retention tools. I have implemented a few of them and will definitely implement the rest that you've mentioned. I really like them because they're simple, easy to administer, and fairly easy to maintain and monitor. With any retention tool, you need it to be simple enough so that it's understood by everyone in the organization, from HR implementing to managers maintaining, and have the employees engaged to assure their buy-in.

One question: Is there a source that you've used, or is it just from pure experience? Kindly reply.

Thanking you once again for the insightful post!

Warm regards,
A people person

From United Arab Emirates, Dubai
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Dear Amith,

Well said... practical as well as feasible for any company to have their talent as their active stock. If we can keep these basics intact and convince the management to practice without fail, we will have great pleasure in the worry (RETENTION) of HR.

Regards,
Benance

From United Arab Emirates, Abu Dhabi
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Hi ! Excellent reply. Only less payment is accepted if employee has job satisfaction, personal growth & development. Swati
From India, Nasik
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Hi Amit, Its very informative and practical too. Can you pls elaborate on Retention Bonus through some examples??? Rgds, Agnya.
From India, Ahmadabad
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Thanks Amit, but I think everything you mentioned above may not be applicable in a small organization where 25-30 employees work. Can you please help me out? I mean, how can we retain employees in a small organization, especially in the IT sector where retention is quite high?

Deepali Saraogi

From India, New Delhi
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presentation on retention strategies regards Rajnish SApra
From India, Delhi
Attached Files (Download Requires Membership)
File Type: ppt retention_855.ppt (86.5 KB, 305 views)

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Welcome, Deepali.

You can't say that these would not be useful in a small organization. It would definitely help in every organization, whether it's small or big.

Yes, you are very right that the attrition rate is very high in IT sectors. As I am also handling a small newly set up IT organization, in my view, you are required to provide them good support from the HR side. Moreover, try to interact with them as much as possible as it's a smaller one, so definitely you can do so. Respond to their queries in a shorter period of time not just by words but in terms of actions. It will definitely create a strong relationship between employer and employee, leading to a positive attitude towards the organization.

Regards,
Amit Seth.

From India, Ahmadabad
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Hello Amit,

I am not saying whatever you had mentioned is totally not useful. Something is beneficial for both big and small organizations. If you are in the IT sector, please help me out with recruitment because I am facing lots of problems while hiring web designers as I am not from a technical background.

As an HR professional, what questions should be asked during the interview of a web designer?

Thanks & Regards,
Deepali Saraogi

From India, New Delhi
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Hello Amit,

Yes, you are very right that as a head of the company, it is very important to respond to the queries of the employees in a shorter time and in terms of action. However, it is not practically possible because even HR is supposed to take permission from his/her senior.

So, in that case, how can we manage the attrition rate?

Thanks,
Sujata

From India, New Delhi
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Hi Shalini, Please take the stats for the last year and examine the trend on people leaving. Basing on your study design a retention reward. Thanks, Prasad

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Hi Deepali,

Yes, I am also in an IT company and am involved in recruitment. Even though I do not have an IT background, we HR people generally shortlist candidates based on their experience and skills if they match our requirements.

After that, for technical knowledge information, it is better to conduct a technical interview conducted by a Technical person in the same domain. Once we are through with the technical interview, we need to assess their attitude, concerns, needs, negotiations, and all other relevant factors.

I hope you are following a similar process.

Regards,
Amit Seth

From India, Ahmadabad
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Hi KSK,

To retain employees, every company should look at the following aspects:

1. Working culture
2. Treatment of the employees
3. Reasonable pay compared to the market
4. Welfare of the employees.

Best wishes,

KSK


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Dear Sir,

Can I get the general roles and responsibilities of the below designations:

MANAGEMENT EXECUTIVES

1. CHIEF OPERATING OFFICER
2. GENERAL MANAGER - PRODUCTION
3. SUPPLY CHAIN MANAGER
4. PROCESSING MANAGER
5. GENERAL MANAGER - MAINTENANCE
6. MERCHANDISING MANAGER
7. LOGISTICS MANAGER
8. STORES MANAGER
9. COMMERCIAL MANAGER
10. ACCOUNTS MANAGER
11. QUALITY MANAGER
12. HR MANAGER

SENIOR EXECUTIVES

1. FLOOR INCHARGE
2. ASST - MANAGER MERCHANDISER
3. ASST - SUPPLY CHAIN MANAGER
4. ASST - QUALITY MANAGER
5. STORE ASST.
6. STORE-INCHARGE - FABRIC STORES
7. ASST. HR
8. WELFARE OFFICER
9. ASST ACCOUNTS
10. MECHANIC
11. ELECTRICIAN
12. SUPERVISOR

Regards,
hosmath

From India, Bangalore
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Hi Shanlini,

Please remember that employees join a company with certain expectations or hidden agendas. Fulfilling all the employees' expectations is a herculean task and not always possible. However, to keep a majority of them happy, companies need to rethink and revisit the following strategies:

1. Flexi-time: Give employees the option of flexitime, allowing them to balance work and personal life. If the work can be done remotely, provide the choice to work from home to avoid long commutes to the office once or twice a week.

2. Educate bosses and managers on handling their subordinates sensitively and nurturing them, as this generation is fast-paced and sensitive.

3. Define clear job descriptions for employees and motivate/train them to work systematically.

4. Avoid scolding an employee who underperforms; instead, consider that they may not know the job or are hesitant to ask for help.

5. Provide employees with tips on supportive functions within the organization when assigning tasks.

Above all, treat employees with respect. If there are fixed working hours, allow them to work within the time limit and encourage timely completion of tasks.

The above views are based on my personal experience in an organization.

Regards,

Yoganth Murthy

From India, Bangalore
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Hi,

You can visit the website www.dipstik.in to learn about retention strategies. They offer online surveys, and I'm sure they would help you in this regard.

Regards,
Sri.

From India, Bangalore
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Hi, Thanks for the info. Training,Compensation and Benefits, Vacations, Bonuses, Incentive-laced Targets, they all help in keeping the attrition rate or turnover down. Imoisili

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