4 methods to retain employees in an organisation
Strategies for retaining talent is one of the most talked about issues in the HR domain these days. According to a research conducted Han Digital talent consultants, at least 50 persons leave their organisation in a year. The rate is highly drastic and reflects upon a company’s poor employee management schemes.
Almost all MNCs and mid-size business firms including start-ups find it a challenge to retain employees for a longer duration. The rate at which employees leaving an organisation is much higher than that of potential candidates coming into an organisation. As per our researchers some of the reasons for employees leaving an organisation are listed below:
- No growth
- No new projects
- No appraisal
- Poor work culture
- Lack of basic amenities
- Legal binding/ Bonds
On speaking to ex-employees of tier 1 and tier 2 firms, it was found that majority of people resigned from their previous companies due to lack of professional growth and projects. Other reasons cited were poor work culture and lack of perks and benefits.
Pushing aside the negatives, companies must now focus on developing an affirmative recruitment action to retain employees as they form the core foundation of any business. A management consisting of poor talent can neither attract potential business nor can generate revenues for it to sustain the in the long run.
In order to reduce talent attrition in an organisation, hiring managers can follow these valuable tips given by Han Digital talent consultants:
A popular management term which leads to a management by result (MBR) or management by objectives (MBO) philosophy. The idea of decentralisation was propounded by Peter Drucker, who was a management consultant, author and educator. His philosophy revolves around liberal management rules and diluted authoritative power within an organisation. Drucker emphasised on transactional communication and was strictly against linear communication.
Gone are the days when employees were strictly supervised by their superiors. The trend now has changed. Employees seek a much dynamic and liberal work environment to experiment and grow. Nobody would like to stay in an organisation which has an arrogant and biased boss.
As per our talent experts, the rate of attrition was higher in firms that followed a centralised organisational structure.
According to management experts, employees are tangible assets to an organisation. An organisation that nurtures the needs of employees and allows them to continuously experiment strives in the long run. By allowing employees to investigate their potential strength, companies are building a pathway to a dynamic and vibrant work culture.
- Internal Mobilisation
Employees seek constant motivation in terms of the work they do and their career they pursue. Organisations must recognise the potential of their employees and provide timely promotions. Internal mobility is another method to retain employees. It is beneficial to both – the organisation and the employee. Firstly, it helps to cut down the cost of external recruitment and secondly, it allows employees to grow in their profession.
Likewise, why would an employee seek other options when their very own company has good opportunities in store?
- Basic Amenities
Most employees leave their organisation due to poor infrastructure. Glassdoor.com reviews and other online business forums offer an insight into some of the most genuine problems faced by employees; one of them being poor infrastructure. Several organisations especially mid-size companies and start-ups lack basic amenities such as Wi-Fi, washrooms, shabby surroundings and furniture.
One of the 14 principles of management by Henry Fayol is Order in which he states that employees in a company must have the right resources and facilities at their disposal so that they can perform their tasks better. In return, it is the duty of the management to ensure that work environment is clean, tidy and safe.
Are you having trouble retaining employees? We can help you seek new talent through one of our best hiring services. Our talent experts can offer you an insight on recruitment and talent retention strategies. For more information about our services, write to us at firstname.lastname@example.org