Dear Scan,
In addition to what (Cite Contribution) has suggested, consider an employee engagement program for your employees addressing the key emotional elements that will keep him/her bonded to the company. You can find out the engagement of specific segments of your employee population by conducting an engagement survey and building a report.
Best Regards,
Nishant
Managing Partner@ talentworks
From India, Lucknow
1In addition to what (Cite Contribution) has suggested, consider an employee engagement program for your employees addressing the key emotional elements that will keep him/her bonded to the company. You can find out the engagement of specific segments of your employee population by conducting an engagement survey and building a report.
Best Regards,
Nishant
Managing Partner@ talentworks
From India, Lucknow
sir
long service in the organization;........since they are not getting job
job security-----------------------Govt is not giving the funds to run the show.
Increments and comforts..........every year where I can add on the customer.
up gradation of knowledge/ training..........No way Money?
Gratitude.......I have payed for your work every month.
regards
harindranath
From India, Bangalore
long service in the organization;........since they are not getting job
job security-----------------------Govt is not giving the funds to run the show.
Increments and comforts..........every year where I can add on the customer.
up gradation of knowledge/ training..........No way Money?
Gratitude.......I have payed for your work every month.
regards
harindranath
From India, Bangalore
Retaining 'performers' who occupy 'Key Positions' is probably what you meant.
If you have a remuneration policy that links 'increments' with performance, your job as HR gets simplified. A high performer may think of separation from a company only if his/ her market value is more than what the present company offers . Therefore, your increment policy for 'high performers' must also take into account market based compensation. For example, if average market salary for a particular job in your industry is Rs 3 to 4 Lacs per annum, retention of a high performer may not be a problem if you give compensation which exceeds Rs Lacs per annum. In addition, if your annual increments process can also take into account Loyalty factor (ie, longevity of service in your company) in addition to individual's performance, especially in Key Positions, surely you will be able to retain the wanted people in your organization.
In the above scenario, it is vital that your PMS is Goal - based & you have an automated system to track performance throughout the year (and not merely an end of the year performance evaluation as is the general practice). All good companies grow by introducing technology to track performance of their employees & they retain their key talent by ensuring higher salaries & higher designations. So 'performance based remuneration & promotions' constitute the key solution to the problem of employee retention. If these two are missing in an organization, other approaches like rewards & recognitions may not suffice in isolation.
From India, Delhi
If you have a remuneration policy that links 'increments' with performance, your job as HR gets simplified. A high performer may think of separation from a company only if his/ her market value is more than what the present company offers . Therefore, your increment policy for 'high performers' must also take into account market based compensation. For example, if average market salary for a particular job in your industry is Rs 3 to 4 Lacs per annum, retention of a high performer may not be a problem if you give compensation which exceeds Rs Lacs per annum. In addition, if your annual increments process can also take into account Loyalty factor (ie, longevity of service in your company) in addition to individual's performance, especially in Key Positions, surely you will be able to retain the wanted people in your organization.
In the above scenario, it is vital that your PMS is Goal - based & you have an automated system to track performance throughout the year (and not merely an end of the year performance evaluation as is the general practice). All good companies grow by introducing technology to track performance of their employees & they retain their key talent by ensuring higher salaries & higher designations. So 'performance based remuneration & promotions' constitute the key solution to the problem of employee retention. If these two are missing in an organization, other approaches like rewards & recognitions may not suffice in isolation.
From India, Delhi
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Key indicators.ppt