Does anybody know what is best way to retain and reward people in organisations by the content and process theories to motivation assist? Thank you!
From United Kingdom, Ilkley
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From United Kingdom, Ilkley
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Hi Huxi,
Some Tips for Employee Retention
Recruiting the right employees and keeping the right employees matters, especially now.
A recent Society for Human Resource Management (SHRM) press release revealed the answer to the question of what people plan to do when the job market rebounds. The majority of the Human Resource (HR) professionals and managers surveyed agreed that turnover will rise significantly once the job market improves. Both groups felt that the job market will improve within the next year, according to the latest Job Recovery Survey.
The survey is produced by SHRM and CareerJournal.com, the free, executive career site of The Wall Street Journal, two of my personal favorite sites. The survey results include responses from 451 HR professionals and 300 managerial or executive employees.
"We are surprised by the percentage of executive employees who say they plan to jump ship once hiring rebounds," says Tony Lee, editor in chief/general manager of CareerJournal.com. "And with 56 percent of HR professionals agreeing that turnover will rise, we are interested to see what types of retention efforts those companies launch to keep their best employees on board."
Employees cited the following three top reasons they would begin searching for a new job:
· 53 percent seek better compensation and benefits.
· 35 percent cited dissatisfaction with potential career
development.
· 32 percent said they were ready for a new experience.
HR professionals were asked which programs or policies they use currently to help retain employees.
The following three are the most common programs employers are using to retain employees:
· 62 percent provide tuition reimbursement.
· 60 percent offer competitive vacation and holiday benefits.
· 59 percent offer competitive salaries.
Most HR professionals surveyed (71 percent), in large organizations (those with more than 500 employees), thought it would be extremely likely or somewhat likely to experience an increase in voluntary turnover once the job market improves. Forty-one percent from small organizations (1-99 employees) said it was extremely likely or somewhat likely that turnover would increase. Fifty-three percent of respondents from medium organizations (between 100 and 499) thought the same.
In addition to the three retention tips offered by HR professionals in the SHRM-CareerJournal.com survey, competitive salary, competitive vacation and holidays and tuition reimbursement, these are your key retention strategies. (If you think they read like the Golden Rule, you're right they do.) And, they're also common-sense, basic and incredibly hard to find in organizations today.
·Select the right people in the first place through behavior-based testing and competency screening. The right person, in the right seat, on the right bus is the starting point.
·Offer an attractive, competitive, benefits package with components such as life insurance, disability insurance and flexible hours.
·Provide opportunities for people to share their knowledge via training sessions, presentations, mentoring others and team assignments.
·Demonstrate respect for employees at all times. Listen to them deeply; use their ideas; never ridicule or shame them.
·Offer performance feedback and praise good efforts and results.
·People want to enjoy their work. Make work fun. Engage and employ the special talents of each individual.
·Enable employees to balance work and life. Allow flexible starting times, core business hours and flexible ending times. (Yes, his son's soccer game is important.)
·Involve employees in decisions that affect their jobs and the overall direction of the company whenever possible.
·Recognize excellent performance, and especially, link pay to performance.
·Base the upside of bonus potential on the success of both the employee and the company and make it limitless within company parameters. (As an example, pay ten percent of corporate profits to employees.)
·Recognize and celebrate success. Mark their passage as important goals are achieved.
·Staff adequately so overtime is minimized for those who don't want it and people don't wear themselves out.
·Nurture and celebrate organization traditions. Have a costume party every Halloween. Run a food collection drive every November. Pick a monthly charity to help. Have an annual company dinner at a fancy hotel.
·Provide opportunities within the company for cross-training and career progression. People like to know that they have room for career movement.
·Provide the opportunity for career and personal growth through training and education, challengine assignments and more.
·Communicate goals, roles and responsibilities so people know what is expected and feel like part of the in-crowd.
·According to research by the Gallup organization, encourage employees to have good, even best, friends, at work.
Now that you have the list, why not work to make your organization one of the few, the best, that truly honor and appreciate employees. If you treat your employees wonderfully, you will never lose them.
Some More Tips for Employee Retention
1. Set clear expectations.
Just like the company, each employee needs a clear focus, especially during volatile or uncertain times. When employees see the economy turn sour or cutbacks occur, they naturally fear any change that could affect their own future. To keep those fears from surfacing, continually communicate with your employees and state your expectations of them. Tell them what you want, what they did right, what you expect of them, and how you will measure their progress.
2. Show respect.
These days we needs employees who can run 100 meter races rather than marathon, that means we need people who can deliver immediately. Therefore, your people may stay up all night to finish a project, but over the long term they won’t sacrifice family and friends for the sake of their
jobs. To respect employees’ time, consider flexible work schedules. Be creative about building in the flexibility. When people feel respected, they’ll be more loyal over the long term.
3. Make the workday meaningful.
Employees today want more than just a job. They want to contribute to the big picture and help the company sustain it through the tough times. Therefore, leaders need to provide challenging and meaningful work assignments that stimulate their employees. When employees feel bored,
their motivation declines and they lose focus on how their work fits into the big picture. Delegate meaningful work whenever possible so employees can learn something new and feel challenged. Additionally, provide regular development and learning opportunities.
4. Give appropriate praise and recognition.
Recognize and celebrate even the small accomplishments, as praise and recognition inspire people to increase productivity. Employees appreciate spontaneous and positive recognition along the way instead of delayed recognition during a performance review. However, as you give praise and recognition, consider the receiver. Although praise is a great motivator, some people prefer to receive praise privately, while others like it publicly.
One simple way to give praise and recognition is with a simple “thank you.” It can be done in a moment in the hallway, by phone, or during a drop-in visit. “Thank you” is a powerful phrase that can make a person feel appreciated and valued. Whatever you choose to do, remember that
rewards and recognition are great motivators, so use them freely.
5. Continually coach.
To keep morale high, coach and facilitate every day. The “I tell/you do” method of management simply does not work for motivating and retaining people. Instead, become a coach to your people and encourage them to try things their own way. Allow for mistakes to happen, as mistakes are often our greatest learning opportunities. When people know that mistakes are understood as a part of the experience, they’ll be more creative and take more risks. When you need to correct employees, do so constructively by offering information on ways they can improve, attain, and surpass desired results. Most people are grateful for constructive
feedback. It shows that you’re paying attention to their progress.
I hope it had solved your query.
dsv
From India, Delhi
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45Some Tips for Employee Retention
Recruiting the right employees and keeping the right employees matters, especially now.
A recent Society for Human Resource Management (SHRM) press release revealed the answer to the question of what people plan to do when the job market rebounds. The majority of the Human Resource (HR) professionals and managers surveyed agreed that turnover will rise significantly once the job market improves. Both groups felt that the job market will improve within the next year, according to the latest Job Recovery Survey.
The survey is produced by SHRM and CareerJournal.com, the free, executive career site of The Wall Street Journal, two of my personal favorite sites. The survey results include responses from 451 HR professionals and 300 managerial or executive employees.
"We are surprised by the percentage of executive employees who say they plan to jump ship once hiring rebounds," says Tony Lee, editor in chief/general manager of CareerJournal.com. "And with 56 percent of HR professionals agreeing that turnover will rise, we are interested to see what types of retention efforts those companies launch to keep their best employees on board."
Employees cited the following three top reasons they would begin searching for a new job:
· 53 percent seek better compensation and benefits.
· 35 percent cited dissatisfaction with potential career
development.
· 32 percent said they were ready for a new experience.
HR professionals were asked which programs or policies they use currently to help retain employees.
The following three are the most common programs employers are using to retain employees:
· 62 percent provide tuition reimbursement.
· 60 percent offer competitive vacation and holiday benefits.
· 59 percent offer competitive salaries.
Most HR professionals surveyed (71 percent), in large organizations (those with more than 500 employees), thought it would be extremely likely or somewhat likely to experience an increase in voluntary turnover once the job market improves. Forty-one percent from small organizations (1-99 employees) said it was extremely likely or somewhat likely that turnover would increase. Fifty-three percent of respondents from medium organizations (between 100 and 499) thought the same.
In addition to the three retention tips offered by HR professionals in the SHRM-CareerJournal.com survey, competitive salary, competitive vacation and holidays and tuition reimbursement, these are your key retention strategies. (If you think they read like the Golden Rule, you're right they do.) And, they're also common-sense, basic and incredibly hard to find in organizations today.
·Select the right people in the first place through behavior-based testing and competency screening. The right person, in the right seat, on the right bus is the starting point.
·Offer an attractive, competitive, benefits package with components such as life insurance, disability insurance and flexible hours.
·Provide opportunities for people to share their knowledge via training sessions, presentations, mentoring others and team assignments.
·Demonstrate respect for employees at all times. Listen to them deeply; use their ideas; never ridicule or shame them.
·Offer performance feedback and praise good efforts and results.
·People want to enjoy their work. Make work fun. Engage and employ the special talents of each individual.
·Enable employees to balance work and life. Allow flexible starting times, core business hours and flexible ending times. (Yes, his son's soccer game is important.)
·Involve employees in decisions that affect their jobs and the overall direction of the company whenever possible.
·Recognize excellent performance, and especially, link pay to performance.
·Base the upside of bonus potential on the success of both the employee and the company and make it limitless within company parameters. (As an example, pay ten percent of corporate profits to employees.)
·Recognize and celebrate success. Mark their passage as important goals are achieved.
·Staff adequately so overtime is minimized for those who don't want it and people don't wear themselves out.
·Nurture and celebrate organization traditions. Have a costume party every Halloween. Run a food collection drive every November. Pick a monthly charity to help. Have an annual company dinner at a fancy hotel.
·Provide opportunities within the company for cross-training and career progression. People like to know that they have room for career movement.
·Provide the opportunity for career and personal growth through training and education, challengine assignments and more.
·Communicate goals, roles and responsibilities so people know what is expected and feel like part of the in-crowd.
·According to research by the Gallup organization, encourage employees to have good, even best, friends, at work.
Now that you have the list, why not work to make your organization one of the few, the best, that truly honor and appreciate employees. If you treat your employees wonderfully, you will never lose them.
Some More Tips for Employee Retention
1. Set clear expectations.
Just like the company, each employee needs a clear focus, especially during volatile or uncertain times. When employees see the economy turn sour or cutbacks occur, they naturally fear any change that could affect their own future. To keep those fears from surfacing, continually communicate with your employees and state your expectations of them. Tell them what you want, what they did right, what you expect of them, and how you will measure their progress.
2. Show respect.
These days we needs employees who can run 100 meter races rather than marathon, that means we need people who can deliver immediately. Therefore, your people may stay up all night to finish a project, but over the long term they won’t sacrifice family and friends for the sake of their
jobs. To respect employees’ time, consider flexible work schedules. Be creative about building in the flexibility. When people feel respected, they’ll be more loyal over the long term.
3. Make the workday meaningful.
Employees today want more than just a job. They want to contribute to the big picture and help the company sustain it through the tough times. Therefore, leaders need to provide challenging and meaningful work assignments that stimulate their employees. When employees feel bored,
their motivation declines and they lose focus on how their work fits into the big picture. Delegate meaningful work whenever possible so employees can learn something new and feel challenged. Additionally, provide regular development and learning opportunities.
4. Give appropriate praise and recognition.
Recognize and celebrate even the small accomplishments, as praise and recognition inspire people to increase productivity. Employees appreciate spontaneous and positive recognition along the way instead of delayed recognition during a performance review. However, as you give praise and recognition, consider the receiver. Although praise is a great motivator, some people prefer to receive praise privately, while others like it publicly.
One simple way to give praise and recognition is with a simple “thank you.” It can be done in a moment in the hallway, by phone, or during a drop-in visit. “Thank you” is a powerful phrase that can make a person feel appreciated and valued. Whatever you choose to do, remember that
rewards and recognition are great motivators, so use them freely.
5. Continually coach.
To keep morale high, coach and facilitate every day. The “I tell/you do” method of management simply does not work for motivating and retaining people. Instead, become a coach to your people and encourage them to try things their own way. Allow for mistakes to happen, as mistakes are often our greatest learning opportunities. When people know that mistakes are understood as a part of the experience, they’ll be more creative and take more risks. When you need to correct employees, do so constructively by offering information on ways they can improve, attain, and surpass desired results. Most people are grateful for constructive
feedback. It shows that you’re paying attention to their progress.
I hope it had solved your query.
dsv
From India, Delhi
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Thanks for dsv2500. However, I think the pay for money is the best way to reward employee, because the pay money is a recognition in a organisation. So what’s your opinion? Thank you!
From United Kingdom, Ilkley
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From United Kingdom, Ilkley
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Hi Huxi,
Definitely, money is the primary motivator. However, no matter how big the amount might be, if the work environment does not provide growth opportunities for the employee, he will quit someday or the other.
I have witnessed an exit interview in one of the most reputed organizations. The employee said, "I do not have any issues with the salary. The environment is the best in the industry, my boss and my colleagues are my best buddies. But in the last 4 years, I haven't attended a single training program. This limits my expertise and makes me redundant in the industry."
If you have heard about Maslow's needs hierarchy, it states that after a certain stage, money no more motivates a person. It is the growth, self-esteem, and other needs which motivate an employee (along with money).
Hope I have cleared your doubt.
Regards,
Sonit Singh
From India, Hyderabad
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Definitely, money is the primary motivator. However, no matter how big the amount might be, if the work environment does not provide growth opportunities for the employee, he will quit someday or the other.
I have witnessed an exit interview in one of the most reputed organizations. The employee said, "I do not have any issues with the salary. The environment is the best in the industry, my boss and my colleagues are my best buddies. But in the last 4 years, I haven't attended a single training program. This limits my expertise and makes me redundant in the industry."
If you have heard about Maslow's needs hierarchy, it states that after a certain stage, money no more motivates a person. It is the growth, self-esteem, and other needs which motivate an employee (along with money).
Hope I have cleared your doubt.
Regards,
Sonit Singh
From India, Hyderabad
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Hi Huxi,
In my opinion, the salary is not the driving force all the time. However, it has been seen in many organizations that people are more inclined to consider salary, but other factors such as growth, working environment, and relationships with supervisors play an important role.
dsv
From India, Delhi
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In my opinion, the salary is not the driving force all the time. However, it has been seen in many organizations that people are more inclined to consider salary, but other factors such as growth, working environment, and relationships with supervisors play an important role.
dsv
From India, Delhi
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Yes, DSV and Sonit are very true. If you are getting paid $20,000 and are designated as a Senior Executive, I think that you would not be motivated to stay at the same place. In fact, you may choose to change to some other company that pays you the same with the position of Assistant Manager. So, money is not a motivating factor all the time. However, yes, money plays a very crucial role in the early stages of your career. Once you have spent a certain number of years in the industry, you would look for recognition and work for it. Of course, money comes in the way during this process.
It is a very good discussion. All the other members, please post your views too.
Regards,
Kiran.
From Netherlands
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It is a very good discussion. All the other members, please post your views too.
Regards,
Kiran.
From Netherlands
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I have a question about the process of motivation.
Intrinsic motivation: People motivate themselves by seeking and finding what leads them to achieve their goals, such as Maslow's theory.
Extrinsic motivation: People can be motivated by management through pay, promotion, and praise, such as expectancy theory.
Is the above definition correct?
Regards, Huxi
From United Kingdom, Ilkley
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Intrinsic motivation: People motivate themselves by seeking and finding what leads them to achieve their goals, such as Maslow's theory.
Extrinsic motivation: People can be motivated by management through pay, promotion, and praise, such as expectancy theory.
Is the above definition correct?
Regards, Huxi
From United Kingdom, Ilkley
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Employee Motivation.ppt
Effective employee retention strategies-BPO. doc
Employee Retention Tools.pdf