Presentation Transcript
PROCESS OF RETENTION :PROCESS OF RETENTION By- Megha Kapil
LOVE OR LOOSE :LOVE OR LOOSE
EMPLOYEE RETENTION :EMPLOYEE RETENTION
“SUCCESSFUL MARRIAGE” :“SUCCESSFUL MARRIAGE” Employer-Employee Relation
Is Like A Marriage.
Retention Process Is
Related To
“Successful Marriage”
BEGINNING ……. :BEGINNING ……. Retention doesn't start from
the day person join your
organization.
Retention starts from the
"Interview Process”.
“ WOOING THE GIRL” :“ WOOING THE GIRL” You need to convince your partner, how you are different from other boys or girls?
What type of future that person will get if he/she decides to marry you.
You need to convince the person as what your company is having that others are not having? What is your competitive edge? What type of future or growth that person will get if he decides to join your company?
Sourcing & Selecting The Candidate :Sourcing & Selecting The Candidate The way you carry the interview
The practices and processes you use to interview candidates
The communication process that you adapt to interact with the candidate
The steps involved in the selection process
Number of hours you made this person to wait
Time you take to issue the offer letter
Hassles and problems you create to give the offer and appointment letter
The credibility of the information that you have provided to this person at the time of interview about the company and about the job
YOUR ENGAGEMENT :YOUR ENGAGEMENT The Girl Has Said YES to You,
Is Interested in You &
Now You Are Engaged
ORIENTATION & INDUCTION :ORIENTATION & INDUCTION This is Orientation Process
It generally continues for 30 days
Remember, you are still in courtship
EXPECTATION MANAGEMENT :EXPECTATION MANAGEMENT The way you welcome your new employee.
The way his team members treat him.
The information you provide to him.
Which senior managers interact with him?
SETTING CLEAR EXPECTATIONS :SETTING CLEAR EXPECTATIONS Criteria To Measure The Performance.
In Brief, Job Description, KRA's; Performance Criteria; Performance Management System; Performance Evaluation; Reward System; Career Planning
In total, the comfort level that you extend to this person.
MARRIED :MARRIED NOW YOU
ARE
ON THE
JOB
RETENTION TARGET GROUP :RETENTION TARGET GROUP
MAJOR TURNOVER & RETENTION DRIVER :MAJOR TURNOVER & RETENTION DRIVER Perceived Benefits of Staying With Current Employer
(Eg. Salary, Professional Networks)
Perceived Benefits of Working at Other Employer
(Eg. Salary, Learning Opportunities)
Situational Factors
(Eg. Health, Family & Friends, Infrastructure, Local Investments)
Cost of Changing Career
(Eg. Risk of Unforeseen Pitfalls, Probation
Periods, Relocation Costs)
JOB REQUIREMENT :JOB REQUIREMENT COMPENSATION
ENVIRONMENT
GROWTH
RELATIONSHIP
SUPPORT
COMPENSATION :COMPENSATION Bonus
Economic Benefits
Long-term Incentives
Health Insurance
After Retirement
Miscellaneous Compensation
Remind your Employees the Benefits they get
ENVIRONMENT :ENVIRONMENT LEARNING ENVIRONMENT
Certifications & Provision for higher studies
SUPPORTIVE ENVIRONMENT
Flexible hours
Telecommuting
Dependent care
Alternate work schedules
Vacations
Wellness
WORK ENVIRONMENT
Efficient Managers, Supportive Co-workers,
Challenging Work, Involvement In Decision
making, Clarity Of Work & Responsibilities & Recognition
SUPPORT :SUPPORT Providing Feedback
Recognition & Rewards
Counseling
Providing
Emotional Support
GROWTH :GROWTH Work Profile
Personal Growth and Dreams
Training and Development
RELATIONSHIP :RELATIONSHIP Relationship With the Immediate Manager
Relationship With Colleagues
Promote an Employee Based Culture
Induce Loyalty
MANAGER ROLE IN RETENTION :MANAGER ROLE IN RETENTION Creating a Motivating Environment
Standing up for the Team
Providing Coaching
Delegation
Extra Responsibility
Focus on Future Career
YOUR IN-LAWS :YOUR IN-LAWS Your in-laws take care of your house, your kids, when you go out to work?
They help you, in preparing the dinner.
They ensure that you get respect and care in the family.
They ensure that you are heard for your ideas and opinion.
Get appreciation for your work.
HR DEPARTMENT :HR DEPARTMENT HR Department can give you infrastructure, facilities to ensure that you give you best.
They can make employee friendly policies, processes and procedures to ensure that you grow in the organization...as a person, as a professional.
They can appreciate your work.
They can ensure proper communication process; make sure that you are heard.
They can give regular feedback, appreciation and recognition.
They can give training to your boss; if his management style is not good.
DIVORCE :DIVORCE RESIGNATION
WHY EMPLOYEES LEAVE :WHY EMPLOYEES LEAVE Job Is Not What the Employee Expected to Be
Job and Person Mismatch
No Growth Opportunities
Lack of Appreciation
Lack of Trust and Support
Stress and Work Life Imbalance
Compensation
New Job Offer
SEPERATION :SEPERATION Employee has already decided to leave the organization
Exit Interview- Attempt to save the Relation.
Major Retention Factors for High Potentials :Major Retention Factors for High Potentials
Retention Is An Organisation Level Activity & Leads To The Success Of The Organisation As A Whole :Retention Is An Organisation Level Activity & Leads To The Success Of The Organisation As A Whole