Post a substantive response to each question (minimum 250 words).
You are the HR Manager for ABC Company. Based on the information in the R&R Strategy Exercise, develop 3 recommendations for the organization to address the retention problem. How will you measure success?
Reply in a scholarly and substantive manner to the following two classmates with at least 100 words.
Employee retention is an organization’s ability to keep its employees. Retention of a positive and motivated employee is very important for the organization’s success. High employee turnover increases the expenses and has a negative impact on the organization’s morale. Employee retention is the organizational goal of keeping talented employees and reducing turnover by fostering a positive work atmosphere to promote engagement, showing appreciation to employees, and providing competitive pay and benefits and healthy work-life balance. Retention strategies are policies and plans that organizations follow to reduce employee turnover and attrition and ensure employees are engaged and productive long-term.
To keep your employees working for you, consider trying these three employee retention strategies:
1) Salary And Benefits Must Be Competitive- It’s absolutely essential in this competitive labor market for companies to offer attractive compensation packages. That includes salaries, of course, but also bonuses, paid time off, health benefits and retirement plans. Every employee should have a full understanding of the benefits they receive from your organization from the beginning.â€¯
2) Hire The Right Person At The Start- very new hire should be set up for success from the very start. Your onboarding process should teach new staff members not only about the job but also the company culture and how they can contribute and thrive. Donâ€™t shortcut this important first step: The training and support you provide from Day One can set the tone for the employee’s entire tenure at the company.
3) Training and development â€” Make it a priority to invest in your workers’ professional development and seek opportunities for them to grow. Some companies pay fees and travel for employees to attend conferences or industry events each year, provide tuition reimbursement, or pay for continuing education training.â€¯
Recruiting and Attracting Talent, Author: James Breaugh, Ph.D
Published by SHRM Foundation, 2009
Recruitment & Selection: Hiring the Right Person, Author: Myrna L. Gusdorf, Published by SHRM,
Retaining Talent, Author: David G. Allen, Ph.D
Published by SHRM Foundation, 2008
Employee Engagement: Your Competitive Advantage, Published by SHRM Foundation,
â€¢ Key attitudes of organizational commitment and job satisfaction
If an organization promotes positive key attitudes and show appreciation it will lead to commitment and job satisfaction. A company can also try leveraging rewards to retain skilled employees, I understand they have an incentive in place now but maybe more are needed and make sure the incentives relate to what your employees interest .
â€¢ The quality of the relationship between an employee and his or her immediate supervisor will promote integrity and bondage. Creating loyalty which will lead to employee contentmemnt.
â€¢ Role clarity too is essential. An employee accepts a position based on a description. If the job is not filling within the description it will upset employees. Giving accurate details with open communication of expectations will allow the company to seek the correct candidates.
â€¢ Job design will go hand in hand with roll clarity. Jobs should be fair paced, allowing employees room for growth to grow within that role. The employees should also be included in decision-making as the are impacted and understand the roles well.
â€¢ Work group cohesion is an awesome resource to as it will connect individuals with more similarities together to allow for an easier connection to help assist in higher productivity removing the contrast. All of these options will require strategic planning and implementation. If done correctly it can make a big difference high turnovers are costly and damming to a company and its loyal employees. Turn over rates this high can overcome but it will take time.