hi everybody.. im a sec yr student of MMS specializing in Hr.. hv to submit project report on retention immediately .. so anyone who has done project on same kindly mail it or share d data.. real urgent ... hope u guys will help me out
cheers!!
From India, Mumbai
cheers!!
From India, Mumbai
Hey,
Very true we cannot spoon feed you evrything, you need to make your own project.
Here is some information on Retention ope it will be of help.
Retention startegies:
It usually is less expensive and more rewarding to retain top talent than recruit new talent. This has prompted employers to become proactive, and add value to their employees' lifestyles. ESOPs, too is fast losing its charm. Today organisations are providing their employees with vacations to exotic locales, refrigerators filled with goodies in the office, turbo charged cars and massages. Yet the turnover rate is ever increasing.
What employers need to do retain??
# Calculate the turnover cost of every position:
The turnover rate might be higher for profiles like call centre representatives, sales executives and customer care executives. Employees with such profiles are willing to relocate for small hikes in salary. However, the cost of turnover might not be very high. After calculating the turnover cost, organisations need to understand the needs of the employee and address it. Precaution should be taken to see that the cost of retention does not exceed the cost of turnover.
# Identify the process or the job that leads to turnover:
Conduct employee surveys to see if employees are really satisfied with what they are doing or if they can do their jobs in a different way. The company should not be dependent on individuals; instead it should focus on automating functions so that the activities are process driven. This eliminates monotony and makes it easier for employees to focus on improvements.
# Re-assess the recruitment process:
Is your recruitment process good enough for you to gauge your employee's loyalty and commitment, the tenure of each of your senior staff in the company? Companies should proactively look for suitable candidates, with a long-term perspective in mind. Such an approach gives them a chance to get the best on board instead of making a hurried and often incorrect recruitment.
Review performance management and compensation practices: The performance management system should correlate with organisational values, goals, objectives and personal goals. Each of these parameters should also be related to compensation.
# Review training and development activities:
Training to enhance the competency and skills of the employee is always welcomed. However, these must directly impact the job of the employee. If an employer is willing to invest in the development of the employee's skills and expertise, then there are fair chances of his continuing for a longer time. Cross-functional training provides challenge to the employees and combats boredom.
Since, employees are the only assets a company has, it must invest in its employees. After all, it feels good to go home in the evening and not wonder if your employees are going to turn up for work next day.
From India, Delhi
113Very true we cannot spoon feed you evrything, you need to make your own project.
Here is some information on Retention ope it will be of help.
Retention startegies:
It usually is less expensive and more rewarding to retain top talent than recruit new talent. This has prompted employers to become proactive, and add value to their employees' lifestyles. ESOPs, too is fast losing its charm. Today organisations are providing their employees with vacations to exotic locales, refrigerators filled with goodies in the office, turbo charged cars and massages. Yet the turnover rate is ever increasing.
What employers need to do retain??
# Calculate the turnover cost of every position:
The turnover rate might be higher for profiles like call centre representatives, sales executives and customer care executives. Employees with such profiles are willing to relocate for small hikes in salary. However, the cost of turnover might not be very high. After calculating the turnover cost, organisations need to understand the needs of the employee and address it. Precaution should be taken to see that the cost of retention does not exceed the cost of turnover.
# Identify the process or the job that leads to turnover:
Conduct employee surveys to see if employees are really satisfied with what they are doing or if they can do their jobs in a different way. The company should not be dependent on individuals; instead it should focus on automating functions so that the activities are process driven. This eliminates monotony and makes it easier for employees to focus on improvements.
# Re-assess the recruitment process:
Is your recruitment process good enough for you to gauge your employee's loyalty and commitment, the tenure of each of your senior staff in the company? Companies should proactively look for suitable candidates, with a long-term perspective in mind. Such an approach gives them a chance to get the best on board instead of making a hurried and often incorrect recruitment.
Review performance management and compensation practices: The performance management system should correlate with organisational values, goals, objectives and personal goals. Each of these parameters should also be related to compensation.
# Review training and development activities:
Training to enhance the competency and skills of the employee is always welcomed. However, these must directly impact the job of the employee. If an employer is willing to invest in the development of the employee's skills and expertise, then there are fair chances of his continuing for a longer time. Cross-functional training provides challenge to the employees and combats boredom.
Since, employees are the only assets a company has, it must invest in its employees. After all, it feels good to go home in the evening and not wonder if your employees are going to turn up for work next day.
From India, Delhi
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A New Retention Strategy-Focusi ng on Individuals.pdf
Retention Strategy.doc