RETENTION STRATEGY

• RETENTION STRATEGY
  HUMAN RESOURCE MANAGEMENT
• RETENTION STRATEGIES

1. REFERS TO POLICIES AND PLANS THAT ORGANIZATION FOLLOW TO REDUCE EMPLOYEE TURNOVER AND ATTRITION AND ENSURE EMPLOYEES ARE ENGAGED AND PRODUCTIVITY LONG TERM
2. EMPLOYEE RETENTION IS A PROCESS IN WHICH THE EMPLOYEE ARE ENCOURAGED TO REMAIN WITH THE ORGANIZATION FOR MAXIMUM PERIOD OF TIME OR UNTIL THE COMPETITION OF THE PROJECT. EMPLOYEE RETENTION IS BENEFICIAL FOR THE ORGANIZATION AS WELL AS THE EMPLOYEE

• NEED FOR RETENTION

1. HIRING AND RETAINING GOOD EMPLOYEE HAS BECOME THE CHIEF CONCERN OF EVERY ORGANIZATION
2. DUE TO INTENSITY OF THE COMPETITION FOR QUALIFIED WORKERS RESULT FROM

1.  ROBUST ECONOMY
2. A NEW GENERATION OF WORKERS
3. CHANGES IN SOCIAL
4. LIFE BALANCES
5. GLOBALIZATION

• EFFECTIVE RETENTION

1. UNDERSTAND THE REQUIREMENT OF EMPLOYEE :
2. CAREER DEVELOPMENT OPPORTUNITIES AND A CHANCE TO GROW
3. REGULAR FEED BACK OF  EMPLOYEE AND ORGANIZATION PEROFRMANCE
4. FLEXI WORK SCHEDULE
5. GOOD SALARY AND INCENTIVES AND PROPER INCREMENT POLICY
6. BENEFITS TAILORED TO THEIR INDIVIDUAL NEEDS

• RETENTION STRATEGIES
• GOOD RETENTION STARTS FROM THE TIME ONE HIRE EMPLOYEE TO THE TIME THEY LEAVE THE COMPANY

1. RECRUITMENT AND HIRING :-HIRING AND RETAINING THE SUITABLE CANDIDATE MATCHING WITH JOB REQUIREMENTS
2. TRAIN FRONT LINE ,MANAGERS AND ADMINISTRATORS
3. ORIENTATION AND ON BOARDING:_ APPROPRIATE PRACTICES FOR INDUCTION,ORIENTATION IN THE BEGINNING STAGES OF EMPLOYMENT. IT WILL ENHANCE RETENTION
4. CONDUCIVE WORK ENVIRONMENT
5. WORK LIFE BALANCES
6. TRAINING AND DEVELOPMENT:-KEY FACTORS IN HELPING EMPLOYEE GROW WITH THE ORGANIZATION AND INCREASE THEIR MARKETABILITY
7. PERFORMANCE EVALUATION:PERFORMANCE EVALUATION WILL MAKE HIS MORALE AND MOTIVATION TO GROW

8. PAY AND BENEFITS:-IF EMPLOYEES ARE GETTING BETTER SALARY AND BENEFITS THEY WILL STAY IN THE ORGANIZATION

9. INTERNAL COMMUNICATION:-EFFECTIVE COMMUNICATION CAN HELP ENSURE THAT EMPLOYEE TO WANT TO STAY WITH THE ORGANIZATION. EMPLOYEE NEED TO KNOW AND BE TOLD ON REGULAR BASIS HOW THE ORGANIZATION IS DOING AND WHAT THEY CAN DO TO HELP
10. TERMINATION AND OUTPLACEMENT: EMPLOYEE WHO LEAVE ON GOOD TERMS RECOMMENDING ORGANIZATION FOR ATTRACTION AND RETAINING FUTURE EMPLOYEES
11. ENGAGING EMPLOYEE TO INCREASE RETENTION

1. ENGAGING MAKE WILL THE EMPLOYEE MORE COMMITTED AND PRODUCTIVE.
2. ENGAGEMENT STRATEGIES:-
3. CLARITY OF ORGANIZATION ‘S VISION AND MISSION
4. COMMUNICATION WELL WITH THE EMPLOYEE ON REGULAR BASIS
5. UNDERSTANDING GENERATIONAL DIFFERENCE
6. UNDERSTAND THE REQUIREMENT OF EMPLOYEE
7. EMPOWERMENT TO EMPLOYEE