Employees are the soul of any organization. It is the employees who push the organization towards its goals and objectives par excellence. Therefore, employee retention is one of the most clinical as well as a critical aspect of any organization. Retention of employees who add value is more important than hiring any new labor as the existing employee has a better knowledge and understanding of the company’s hierarchy, working culture and systems and controls. In this blog, we will focus on the employee retention strategies.
Providing funds and helping the employees in learning new skills that can ultimately help them in new and profound opportunities is one of the best ways to keep the employees engaged in the company’s projects and retain them for a longer period. In a study conducted by a research organization, 42 percent of the employees feel more secure about their future and their jobs when they are provided with the opportunities to learn more and grow consequently.
Employees feel confused when they are not aware of what exactly is expected of them. Not making their jobs clear also creates a chaos in the system which ultimately will lead to tension between the two parties and subsequent elimination of the employees from the project or the organization. A clearly specified policy along with the job specification and expected results is the best way to keep the employees in the loop. It also improves the feedback mechanism of the organization.
Benefits are the commodities that attract everyone in the world. It also lures the employees and motivates them to stay glued to your organization. Also, while offering benefit packages to the employees, make sure that you are actually giving the benefits. Being a cheat will never let you help in retaining the much valued human labor.
Communication helps you in growing and building relations with the employees. One must always focus on creating a culture of open communication with the employees to promote a better understanding between the two parties and help everyone involved grow.
Employees define the organization and its work culture. Hence, employees must be a priority for the organization as well. Employees spend a lot of time in the company facility and devote more than half of their day to the company. Therefore, they must be treated properly in return.
Burden infects the employees’ works with inefficiency. You can never compensate the amount overburdened with benefits and incentives. Overburden can lead to the human labor losing their focus from their work and can also increase the stress levels. It also impacts the routine of the employee and might also impact their health.
Every employee desires to contribute to the meaningful aspects of the organization’s work and wants to be a part of the most important projects and work. Assigning work and projects to the employees that do not utilize their potential to the fullest will only make the employees uninterested and unsatisfied. Hence, it is always necessary to assign the work to the employees by judging and analyzing them precisely and according to their caliber and potential.
To retain the employees in an organization, it is very important for the employer to crack the code about why any employee would want to stay at any organization. Making exit interviews a crucial part of the work culture of any organization is an important pillar that might give the employers an insight about what changes they should make in order to keep the skilled labor in their party.
Employee retention is the most important aspect of any organization’s journey towards excellence and continual and sustainable development. Providing proper objectives and following the policies will not only keep the organization in the run to be the best but will also help them in retaining the much valued skilled labor that is highly important in today’s competitive world.
Written & Compiled By Faber Kishlay & Faber Mayuri