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It’s quite normal for a business to receive occasional resignations for better job prospects or any other reason. However, if there is a 􀃓urry of resignations piling on the HR’s desk, it’s a worrisome signal.

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10 5 2017

10/5/2017

5 Ways to Improve Staff Retention in the Organization | Your Retail Coach

5 Ways to Improve Sta? Retention in the

Organization | YRC

Sep 8, 2017

It’s quite normal for a business to receive occasional resignations for better job

prospects or any other reason. However, if there is a ?urry of resignations piling

on the HR’s desk, it’s a worrisome signal. As an employer, you need to maintain a

balance at any time of the year. In today’s world, talent is in high demand. If your

resources are not content with the current professional surrounding, it’s easy for

companies to absorb them. If the best of your employees leave, it pulls the

organization many steps backward.

Employee retention is critical to business. Losing out on talent and experience

forces you to look deep into the causes and take corrective measures. This article

will highlight 5 unique and tested ways to improve sta? retention in an

organization.

De?ning the ‘Right’ Habits

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At home front, everyone follows a routine. It makes your life more systematic and

pleasant. For instance, you have to drop your kid to the school each day; there is

no exception to it. Try to incorporate the same logic in your o?ce environment.

Every business has its own cadence. Along with work, bring in fresh employee

engagements initiatives and make it a routine. From the management

perspective, few things have to be taken as priority. You can prepare a recognition

program on a weekly or monthly basis. The important part is to create a habit for

this activity. Engage and encourage your sta? with activities related to the

organization as a whole. Creating the right habits and nurturing them will assist in

building up trust among the employees. Always try to loop in your resources with

some activities and make it a routine.

From the management perspective, few

things have to be taken as a priority. You can

prepare a recognition program on a weekly or

monthly basis

Training and Skill Enhancement

There is a segment of employees in every business who look out for learning new

things every day. When they realize that, they are going nowhere in the current

job, they decide to quit. Along with enhancing their skills, de?ne a proper career

path for them. It gives the employee a reason to stick for a longer haul and boosts

con?dence. The most important bene?t is the employees see it as an investment

in their career. This increases the likelihood of their stay in the company for a

longer duration. The management can chalk out a training structure which gives

practical bene?ts to the employees, keeping an eye on the budget. Training can

be in the form of classroom or e-learning modules. The trainer can be internal or

external, depending upon the subject. Aligning employees to di?erent technical

and management certi?cation courses are a good way to hold your best

resources. This will turn to be a win-win situation for both the employees as well

as the employers.

The most important bene?t is the employees

see it as an investment in their career

Attractive Remuneration

Believe it or not, for some, the salary day is the best day of their professional lives.

In addition, it is one of the biggest factors which employees count while switching

jobs. If remuneration is the word highlighted on most of your exit forms, it’s high

time you give a makeover to your existing compensation structure. It’s always

good to review the compensation of the employees who have been an asset to

your company. If an employee leaves with a hike of say 25%, the overall cost of

hiring and training a new sta? of the same quality is approximately 40-50%.

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5 Ways to Improve Staff Retention in the Organization | Your Retail Coach

Therefore, for the deserving candidates move a step ahead and increase the bar.

Quality has the ability to overcome quantity anytime, so you have to be ?exible.

Adding incentives and perks are also a good way to increase the retention

percentage. If you can meet up the salary expectations, chances are very slim that

a person will leave the organization.

It’s always good to review the compensation

of the employees who have been an asset to

your company

Motivation

A letter of appreciation can transform an employee’s outlook towards his work.

The feeling of ‘left-out’ can degrade the quality of work, and that is when an

employee starts to look elsewhere. If you look up to companies like Google,

employees are highly motivated and contended with the job. It’s vital to recognize

and appreciate the employees to pump up there motivational levels. You have to

align the vision of your business with the personal values of your employees. Give

them more space and responsibility to perform and achieve their goals.

Explaining the importance of employee contributions bolsters con?dence and

achievement. You can ask for their insight or initiate an opinion poll on

improvising policies. Collect inputs from employees which make them feel

important. A personal communication is the best form of motivation. Try to know

and understand there mindset. Sometimes it’s just a conversation which can light

up the mood, so plan it accordingly.

Give them more space and responsibility to

perform and achieve their goals

Policies and Procedures

An un-organized internal workplace system can also be a reason for the waves of

resignations. Often procedures can be a major obstacle in the path of an

employee. Re-evaluate your workplace and phase out the ‘odd’ processes,

wherever you can. An anonymous survey can give you the best results. Introduce

an advertisement campaign in your premises related to the changes. Let your

resources understand the positive steps taken for creating a better work

environment for them. Your objective is to give a free atmosphere wherein the

employee can be most productive. Filling out forms, multi level of approvals,

policies on promotion, leave and transfers, are examples wherein you have scope

to improve. In addition, publish the sales data and some ?nancial outlines on a

monthly or quarterly basis. Companies’ performance helps them to understand

all the nuances of their jobs. A clear hierarchy de?ned a set of processes, proper

communication makes an employee professionally satis?ed.

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5 Ways to Improve Staff Retention in the Organization | Your Retail Coach

Let your resources understand the positive

steps taken for creating a better work

environment for them. Your objective is to

give a free atmosphere wherein the employee

can be most productive

Conclusion

Drafting the correct retention policy has always been a pain-area for the HR

professionals and management. However, by revamping the existing setup and

emphasize on the gray areas, you can minimize the count of resignations. The bottom

line is you have to retain the talented and motivated employees who can contribute to

the organization’s success.

There can be other e?ective ways of managing retention, but you must be aware of the

core issues before initiating a retention discussion with the employee.

Author Bio

Rupal Agarwal

Chief Strategy O?cer

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