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Top 10 Ways to Retain Talent in Organization
Effective employee retention policies are essential for the continued success of any organization.
Thu, 02/10/2011 - 17:09 by Sandhya Joseph
Organizations need to formulate various strategies to retain their best workers. This in turn sustains growth and ensures customer satisfaction. Every employee seeks appropriate financial compensation. But a fat salary alone is not enough to make workers stay. To retain their best employees, organizations need to pay attention to many factors.
Qualities of a Good Manager
-The manager should be a team player
-Should have the ability to remain calm.
-Should have adequate knowledge of the industry.
-A good manager should exhibit strong leadership skills.
-Should have effective soft skills.
-Must be able to motivate his team.
-Should possess the ability to make quick decisions.
The ways an organization can retain employees are:
1. Clear Job Description
Have a clear job description. Communicate openly and ensure the employee understands what is expected out of him from the very start.
Vague and ever changing job descriptions create unnecessary job stress. When employees know what is expected out of them, they come prepared to deliver.
2. Well Trained Managers
Work experience is fashioned as a result of daily interaction between the employee and manager/supervisor.
Therefore, ensure the managers acquire the right soft skills. Understand that often people resign from a job to get away from a bad manager.
3. Avoid Favoritism and Prejudice
Do not create the impression that the boss’s pet will always end up with the best projects and promotions. Keep a check for sexual, racial, religious or ethnic discrimination. Take complaints about any kind of abuse seriously and initiate action immediately.
4. Acknowledge Employees
Provide timely feedback. This is one way of acknowledging employees. Do not make the employee feel invisible. Appreciate a job well done. Also, praise consistent performance on a daily basis.
5. Offer Additional Benefits
Offer health insurance, paid vacation, gift certificates, savings bonds and other perks.
6. Effective HR Department
Train the HR department to respond quickly to employee complaints, concerns and inquiries.
7. Avoid Keeping Departments Understaffed
Certain companies keep departments understaffed to save costs. This leads to one employee having to perform a task that should have been shared between two or three workers.
Over a period of time, employees in understaffed departments begin to develop various health problems or simply become frustrated and leave.
8. Allow Employees to Speak Up
Create a non-threatening atmosphere where employees can express their take on tasks assigned. Ask for feedback and suggestions from employees. Create a format that allows employees to register complaints anonymously.
9. Provide Opportunities for Growth
Offer promotions, opportunities to learn new skills. This helps to avoid intellectual stagnation.
10. Timely Salary Review Policy
Have a salary review policy that measures, recognizes and rewards quality performance.
Proper attention to these factors can help an organization retain its best employees.
