An organization cannot exist if the top talent is gone. It requires loyal and hardworking employees who work hard to achieve the goals of the organization. It is essential for management to retain their valued employees who are pro-organization and contribute to their level to the fullest. An employee who spends a long time in a particular organization is familiar with the rules, guidelines, and policies of the organization and can better adapt to them.
Retention of employees includes various measures taken to satisfy the employees so that they stay with the organization for a long time. Strict measures should be taken to retain high potential employees who have had a good time in the organization and know it inside and out. It is essential to retain talented employees who can contribute loyally and effectively to the organization.
An employee quits when he encounters problems in the workplace and is not satisfied with his work. The job should be challenging enough and employees should learn something new every day to stay attached to it for a long time. It is the responsibility of the HR team to ensure that team members are satisfied with their work and share a good relationship with them.
Juneja, P., 2020
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Challenges in Employee Retention
In the present situation, the main challenge for an organization is to retain its valuable and talented employees. Management can largely control the issue of employees leaving the organization, but it cannot be stopped completely. It has several challenges.
Employee retention challenges are as follows
Salary Dissatisfaction
Every employee has high salary expectations and this is a major reason for an employee to leave the company. Retention becomes an issue when an employee is quoted for a particularly high salary that goes beyond the organization’s budget. Every company has a salary budget for every employee, which can be increased to a certain extent but not beyond a certain limit.
Job opportunities are high
There is a cut-throat competition to attract the best talent in the market. Companies go a long way in attracting talented resources from their competitors. Having such lucrative offers makes it difficult to retain good resources for a long time.
Hiring the Wrong Candidate
Recruitment plays an important role, it is the future of any organization. Recruiting the right candidate will give you a good future and recruiting the wrong candidate will give you a bad future. Candidates lie a lot when it comes to job interviews. People realize that there is a mismatch and expect change later. Problems arise when the right candidate does the wrong job.
No job rotation
Any employee will get bored if he / she does the same job together for many years. In the initial stage the work may be good and interesting but soon it may become monotonous. In this situation, the management should go for a job transfer and give such employees the opportunity to do something new. If there is no job rotation, such employees will look for other avenues.
Unrealistic expectations of employees
An organization is not able to meet the expectations of all employees. An employee must mature to understand that not all comforts are available in the workplace. Sometimes, when employees' realistic expectations are not met, they look for a job change.
(tutorialspoint.com)
What HR team can do for retain employees?
Clearly, for employees to make a long-term commitment to a safe organization, the employer must give them a good reason to stay. We suggest active efforts by employers to establish a culture of building strong relationships with their employees - the kind that speaks of long commitment and perhaps life commitment.
What can an employer do? We would like to suggest the following “5R”s on employee relations.
Responsibility
Show that you trust your employees by giving them responsibilities that will allow them to grow. Encourage them to acquire new skills. Providing adequate continuing education opportunities. Rent from the inside wherever possible, and offer generous promotions when appropriate.
Respect
Employees want to know that they are respected and appreciated. As the saying goes, people can quickly forget what you said, but they always remember how you felt. Many workplace legends are built around the terrible things that tired and stressed managers say or do. But if managers regularly prioritize outward respect for employees, it will lead to a strong and lasting workplace culture as well as positive experiences and memories that they will never forget.
Revenue - Sharing
Incorporate a portion of your employees' pay into the company's performance. This aligns their needs with the company’s revenue and profit targets and will serve as an innate incentive to stay with the company as it grows. By making the cost of paying fixed wages inherently more variable under different business conditions, you can make your company more resilient and diligent and treat your employees uniquely.
Reward
The rewards you give your employees should speak to their emotional needs and go beyond their monetary compensation. Recognition in front of the company, company and departmental parties, service projects, lunch with the boss, logos, handwritten notes, etc. can contribute to the positive culture of the company and also build good morale.
Relaxation Time
Be generous with leisure time. Provide adequate time for sick days, family vacations, new babies, etc., despite the difficult economy. Accelerating workflows can be very helpful in prolonging employee relationships. You should expect and demand high quality performance, but it is unreasonable to expect 100 percent continuous pressure. Give employees the opportunity to breathe from one assignment to the next, with the help of team building activities or short breaks throughout the day.
Williams, D. and Scott, M., 2012
Conclusion
It is important to remember that a long-term commitment requires effort on both sides. While it is perfectly understandable that many organizations look at perpetual “hoppers”, keep in mind that if you expect and expect employees to make a long-term commitment to your company, it is equally important that you give them good reasons to stay.
References
Juneja, P., 2020. How to Retain the Best Employee. [online] Managementstudyguide.com. Available at: <https://www.managementstudyguide.com/how-to-retain-best-employees.htm>
https://www.youtube.com/watch?v=jbT-KrrXkYQ
Tutorialspoint.com. n.d. Employee Retention - Challenges. [online] Available at: <https://www.tutorialspoint.com/employee_retention/employee_retention_challenges.htm>
Williams, D. and Scott, M., 2012. Five Ways to Retain Employees Forever. [online] Harvard Business Review. Available at: <https://hbr.org/2012/11/five-ways-to-retain-employees>
This topic that you have talked about is a very important one. HR departments should be able to recognize retention reasons early . So for HR people going through an article like this would be helpful. GOOD ONE. WELL DONE.
An individual spends the majority of his time at work, and his coworkers are with whom he spends the most of his waking hours. He can't afford to argue with his coworkers. Conflicts and misunderstandings exacerbate tensions and, as a result, reduce individual productivity. At work, many issues must be discussed, and all opinions and suggestions must be considered in order to arrive at a solution that benefits both the individual and the organization. Good Luck
In any organization, the HR function is critical to employee retention. Staff retention strategies could include employee training, internal promotion options, bonus payments, and enhancing workplace regulations and procedures. All the best!!
Thank you for sharing this informative article about the importance of HR managers in retention. Agree to the point that retention becomes an issue when an employee is quoted for a particularly high salary that goes beyond the organization’s budget
Employees must be trained on the best ways to work in order to boost performance. Employee development allows workers to become more familiar and knowledgeable, allowing them to stay in their jobs longer.
This topic that you have talked about is a very important one. HR departments should be able to recognize retention reasons early . So for HR people going through an article like this would be helpful. GOOD ONE. WELL DONE.
ReplyDeleteThank you so much for your valuable comment
DeleteAn individual spends the majority of his time at work, and his coworkers are with whom he spends the most of his waking hours. He can't afford to argue with his coworkers. Conflicts and misunderstandings exacerbate tensions and, as a result, reduce individual productivity. At work, many issues must be discussed, and all opinions and suggestions must be considered in order to arrive at a solution that benefits both the individual and the organization. Good Luck
ReplyDeleteThank you so much for your valuable comment
DeleteIn any organization, the HR function is critical to employee retention. Staff retention strategies could include employee training, internal promotion options, bonus payments, and enhancing workplace regulations and procedures. All the best!!
ReplyDeleteThank you so much for your valuable comment
DeleteIt is an interesting article to HR managers role in retention, thank you for sharing it.
ReplyDeleteThank you so much for your valuable comment
DeleteThank you for sharing this informative article about the importance of HR managers in retention.
ReplyDeleteThank you so much for your valuable comment
DeletePlease accept my thanks for providing this educational article regarding the role of human resource management in employee retention.
ReplyDeleteThank you so much for your valuable comment
DeleteThank you for sharing this informative article about the importance of HR managers in retention.
ReplyDeleteAgree to the point that retention becomes an issue when an employee is quoted for a particularly high salary that goes beyond the organization’s budget
Thank you so much for your valuable comment
DeleteRetention is one of the most important tasks of HR Manager, thank you for sharing the document.
ReplyDeleteThank you so much for your valuable comment
DeleteEmployees must be trained on the best ways to work in order to boost performance. Employee development allows workers to become more familiar and knowledgeable, allowing them to stay in their jobs longer.
ReplyDeleteThank you so much for your valuable comment
Delete