Strategies to retain best employees in the organization



Employee Retention

“An effort by a business to maintain a working environment which supports

current staff in remaining with the company.” (Business Dictionary)

A high employee turnover means that the average period of an employee in a company is less than others.

Herzberg’s Two-Factor Theory

 “Two-Factor theory” explains the relationship between employee retention and motivation.




Employee Retention Strategies

1. Hiring the Right People

People who hire the organization’s expectations and whose expectations you can fulfill.

2. Shaping their Growth and Development

Helping employees achieve their short-term and long-term goals.

3. Encouraging Open Communication

Create a workplace where they can freely question their leaders and voice their concerns.

4. Appreciating your Employees

Every employee expects acknowledgement and recognition for their work.

5. Balancing their Workload

Encouraging team members to share the work load and  take a break can be effective.

6. Developing Orientation Programs

Clearly explain the policies, expectations to the employee from the beginning.

7. Rewarding and Recognizing Employees

Employees expect more than a thank you when they fulfill their goals, rewarding them to congratulate their efforts is important. 

8. Maintaining Work and Life

Workers have refused a new job due to lack of good work-life balance opportunities. Take pressure off employees, share the workload, allow work from home etc

9. Initiating a Mentor

The newcomer can learn about their work and the existing techniques from assigned mentor.

10. Encouraging Teamwork

Creating a culture where employees work in their own way but as a team helps.

11. Bonding with Employees

Bonding with employees outside work is as important as inside the organization.

12. Living up to their Expectations

Many employees feel that they do not t get the growth and exposure promised to them during hiring.

13. Providing Monetary Benefits

Give fair appraisal to every deserving candidate. A salary hike is another way to retain top performers.

14. Practicing a Feedback Culture

Feed backs make it easier for employees to understand and achieve their goals, responsibilities.

15. Conducting Exit interviews

An exit interview is asking a departing employee about his experience at the company.

16. Providing Leadership Opportunities

Assigning the right tasks, opportunities and responsibilities can increase employee satisfaction.

17. Altering Work Responsibilities

This will make them more skill and advance of their professional development.

18. Generating Peer-to-Peer Recognition

Employees should trust and believe in each other. When they value each other, they will help and work as a team.

Conclusion

The above strategies can be used as a checklist to analyze the areas which need to develop in an organization.

References

Vantage circle blog (2021) The 20 Best Employee Retention Strategies.[blog entry] 29 January.Available from https://blog.vantagecircle.com/employee-retention-strategies/[Accessed 12 April 2021].

 

Comments

  1. Ruwan Herath19 April 2021 at 04:29

    Employee retention is really important to the organization. Having a high retention rate means keeping staff members long-term, resulting in less time and resources required for training new staff and having the loyalty needed to run a business.
    Author has mentioned almost all retention strategies that can practice to the organization.

    ReplyDelete
  2. Udari Weerasinghe30 April 2021 at 10:21


    A company can’t survive if the top performers quit. It needs employees who are loyal and work hard with full dedication to achieve the organization’s objective. It is essential for the management to retain its valuable employees who think in favour of the organization and contribute their level best. Author has described the strategies to retain the employees very well.

    ReplyDelete

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