HIGH ACHIEVERS CONSULTING

EMPLOYEE RETENTION

HIGH ACHIEVERS CONSULTINGinformation@highachievers.in

FRAMEWORK OF EMPLOYEE RETENTION

Source: www.chillibreeze.com

RETENTION REALITY: WHY THEY JOIN

Source:www.danfarrell.com

SURVEY

UK organizations are struggling to retain their employees, claims a new survey which finds that 3 out of 4 have no explicit strategy or budget for employee retention and they don’t understand the real reasons why employees leave.

Source: http://www.clickpress.com/releases/Detailed/59127005cp.shtml

75% OF ORGANISATIONS HAVE NO STRATEGY OR BUDGET FOR EMPLOYEE RETENTION

SURVEY

Developed from a survey of HR practitioners in 316 organizations, it finds that 93% have implemented retention initiatives over the past year, yet nearly half (47%) still admit that they have a problem retaining staff and two-thirds (65%) say they want to reduce their employee turnover.

According to the survey, 44% of organizations have a staff turnover rate higher than 15% per year, with one in ten exceeding 30% per year. In organizations with over 500 employees, more than a third (36%) have a turnover rate exceeding 20%. 81% of organizations believe staff turnover has a detrimental impact on their effectiveness.

Source: www.clickpress.com

STAGES OF RETENTION STRATEGY

RETENTION MODEL DIAGRAM

Source:www.competitiveedgehr.com

EMPLOYEE RETENTION STRATEGIES

Source: retention.naukrihub.com

HOW CAN I IMPROVE THE RETENTION

Source: peopleindairy.businesscatalyst.com

EMPLOYEE RETENTION INITIATIVES

Source: www.nicholsonmcbride.com

7 STEPS TO BETTER EMPLOYEE RETENTION

1. Track retention

2. Hire right in the first place

3. Offer employees a path to greater pay and responsibility

4. Train first-level supervisors

5. Look for stressors and train leaders on how to help employees in stressful positions

6. Be more flexible on work conditions

7. Re-evaluate benefits package

IDEAS FOR EMPLOYEE RETENTION PROGRAMS

Workplace culture Involvement Orientation LearningReward

Employee Retention Programs

Workplace culture

Involvement Orientation Learning Reward

KEEPING IS CHEAPER THAN REPLACING

Direct Costs of Replacement

Paperwork/Time Exit Interview Recruiting Replacement Interview/Select New Employee On boarding New Employee Training New EmployeeDepending on the complexity of the job, this process can

take at least 3-6 months in most cases.

KEEPING IS CHEAPER THAN REPLACING

Indirect Costs of Replacement

Losses in productivity.Slips in schedule.Loss of corporate knowledge.Lost opportunity costs etc.

KEYS TO RETENTION

The keys to retention simply put are based on a name we called SAM;

Satisfaction - There are a number of elements to satisfaction. They include, salary, health plan, dental plan , work environment, and more.

Appreciation - Appreciation is just what it says it is, being recognized and appreciated for your work. Both publicly and privately.

Motivation - Once an employee is satisfied and appreciated, that employee can be motivated. Ways to motivate include bonuses, promotions, conferences and training and more.

That's it! Employee retention is as simple as SAM

TOP 10 LOW & NO CO$T EMPLOYEE RETENTION TIP$

1. Hire the Right Person 2. Open & Effective Communication3. Clear Expectations4. Outstanding Feedback & Recognition 5. Treat People with Respect 6. Share Training Responsibility 7. Have Fun 8. Promote Work/Life Balance 9. Demonstrate Corporate Social Responsibility10. Utilize Connection & Exit interviews

We at High Achievers believe that it is people who build organization and create wealth.

It is people who form the essence of who we are and what we do.

THE NEED IS TO HAVE RIGHT PEOPLE AT RIGHT PLACE

We at High Achievers provide recruitment solutions that enable efficient hiring of human resources of appropriate

capabilities and qualities.

We provide one stop customized solution to all our clientele needs through a candidate centric approach.

WHO WE ARE

HIGH ACHIEVERS CONSULTINGInformation@highachievers.inContact – 0120 - 4265375