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Talent
Retention |
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The challenge is
not only to attract the best talent but also to retain them. Rising
opportunities for carrier development, lifestyle decisions, job changing,
unbalanced work life, poor mentoring and stress are some factors which
influence an individual's decision to continue or quit.
Talent : Natural Ability of skill, such skills and
abilities that is useful for the organization.
Retention: Hold Back.
Why we are searching out for retention?
Company Reputation: Maintaining company reputation is an
effective way to attract the talented. The organization with the using of
talented employees, there is a chance to improve its goodwill and
reputation.
Productivity: A talented employee is self motivated, self
driven towards the work, he acts as a motivator to other employees in work
life. That increases total productivity of the organization.
What makes an employee to quit?
Lack of training programs: Organizations should plan training programs
that helpful to improve the employee competencies with current trends.
Ineffective Mentoring: Another reason for leaving is lack
of effect to mentoring policies. Employees get demotivated due to lack of
proper mentors.
Lack of Challenging Atmosphere: Employer must provide
challenging environment, that help to prove the employees. Challenging
atmosphere help the employees prove their worth and bring out their
skills.
Lack of Autonomy: Employer maintains centralization,
employees feel some in convince. Giving employees responsible positions,
they work in their own style.
Lack of work place relationships: In case employers
failed to maintain healthy relationships among the staff members that
causes for all disputes.
In attractive compensation : Compensation plays an
important role in motivating employees.
Plans for Retention:
Maintaining Image: Maintain image is a
better way to attract skilled employees. Identifying the talented
employees, provide excellent package and challenging environment are the
indicators of corporate image.
Conduct exit interviews: Organizations strictly conduct
exit interviews and identity reasons for turnover. The information must be
ideally used to plan good retention strategy.
Concentrate on Development: Organizations adopt new
policies and technologies for development. Give freedom to new employees
and build a long-term relationship.
Employee Information: Organizations must maintain
employee information; particularly new employees should be kept in mind
even after the recruitment process over. This information will help in
identifying their strengths and setting targets.
Prerequisites for Retention:
There are many plans to retain employees. These are so
help to improve employee relations in any organization.
CONCLUSION: Loss of human assets, lower productivity, and
lower performance levels are the negative results of high turnover. The
management must provide good retention strategy to improve human assets.
Creative Human Asset Retention Strategies have to be emphasized.
Opportunity to grow and learn at work is emerging as a primary determinant
of attracting and retaining employees. Cash is not the main factor that
keeps employee in their current job or attracts them a way to a new job.
The only "Intangible Asset" found to predict the future
financial performance of a firm is the firm's retention rate for key
employees. |
