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Effective Employee Management Strategies for Optimal Retention

Enhance employee retention strategies through effective remuneration and arrangements. Learn about wages, benefits, and employer of choice criteria. Understand employment contracts and induction process for optimal onboarding experience.

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Effective Employee Management Strategies for Optimal Retention

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  1. VCE Business ManagementUNIT 4 Chapter 6 Managing the Employment Cycle Part 2

  2. Work requirements • From 6.6 will relate to work covered in SAC 1B. • Read pages 170 • Activities on page 173, 175, 178, 185 • Chapter Review Questions • Extended Activity • Click View – My new job (adult) • Worksheet is on

  3. EmployeR Arrangements & remuneration • Providing employment conditions that attract valuable employees and ensure they want to stay. • Remuneration – salary, wages, incentives, bonuses, commissions and indirect forms of financial benefits • Indirect benefits may be called ‘fringe benefits’

  4. EmployeRArrangements & remuneration • Wages and Salary • Cash payments to employees under awards or contract / agreements • Award payments have provision for overtime at increased rates. • Salary payments are per annum and have no extra payments. • Superannuation payments start at $450 per month.

  5. EmployeRArrangements & remuneration • Employment Packages: • Part of the idea of attracting and maintaining good employees. • Includes monetary payments, fringe benefits (school fees, house, car etc) • Employers with good packages become Employers of Choice.

  6. EmployeRArrangements & remuneration • Employer of Choice: • Employees and job seekers actively seek them out for their careers. • Google • Virgin Blue • Rip Curl • Ramsay Health Care

  7. EmployeRArrangements & remuneration • What makes an Employer of Choice? • Good management team • Share plans for employees • Training leading to career development • Flexibility • Open communication • Above average pay

  8. EmployeRArrangements & remuneration • Employer of Choice: Textbook Choices • Berri – good training • Crown – Extensive training • Commonwealth Securities – high achiever • Johnson & Johnson – performance bonuses • Sara Lee – extra holidays

  9. EmployeRArrangements & remuneration • Employer of Choice: • Research the internet this week and locate an employer of choice and report back next Monday

  10. Employment Contract • A legally binding agreement. • May be interpreted in a court. • Can not take away your rights under common law eg: safety, illegal activities or unconscionable conduct.

  11. Employment Contract • Unconscionable conduct: • Like misrepresentation, they relate to defective negotiations - something happened during the negotiating period which makes it unconscionable for one party to insist on the contract.

  12. Employment Contract • Employment relationships between employers and the employees they hire are known as employment relationships. • The contract covers: • Working conditions • Payment • Hours worked

  13. Employment Contract • Can be a verbal agreement with or without a handshake. • Written contracts are often more binding and can be enforced legally by the courts. • HR Managers often consult with legal expects before standardising contracts in their corporations.

  14. Australian workplace agreements (AWA) • Individual contracts • Can be agreed to by groups (Collectively) • Signed individually • This is complex and often is in an industry and specifically relates to it.

  15. Individual Employment Contracts • Cover employees - not on Federal Awards. • - not on State Awards. • Used for managers or professionals.

  16. Induction of employees • Mentor – a person who acts as a role model, provides advice and assistance. • - hands out NRL rugby league balls

  17. induction • Is a process and can take 30 minutes or weeks depending on the job, industry and location of the organisation or its operations. • This is the Induction Process. • The new employee gets to know the company by doing it. • May satisfy legal requirements.

  18. induction • May be a way to reduce Lost Time Injuries. • May use an employee handbook. • Workmates and supervisors are introduced. • Safety procedures etc handed out. • Mentoring programs – becoming popular

  19. Induction checklist • Refer to the induction checklists on pages 174 – 175

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