Employee Retention

Arunava Purkayastha (20161003)

Basil Issac (20161005)

Harsh Gandhi (20161017)

Kunal Mittal (20161026)

Rinkesh Modi (20161040)

Saurabhkumar Agarwal (20161048)

Shivam Agarwal (20161051)

Shrushti Joshi (20161054)

Vijay Thumbar (20161059)

Why Professionals Leave Their JOB??

• The management of airtel is doing lots of activities to retain their customers

• The activities are far more difficult in a sense that the employees who are involved in retention activities have to work hard to get the customers back in the airtelservice again.

• But it is not easy to winback the customers who have already left airtel service for different issues.

• The activities include follow up activities, properly make the customers learn the packages they are using and the benefits of it.

• Package conversion is also done based on customers’ requirements

Retention Management

• There is a proactive retention team leader under

retention management where all the subordinates are

supervised by the team leader

• The subordinates are proactive retention executives.

• The main purpose of this management system is to

retain the existing customers so that they don’t stop

continuing using airtel number.

Organizational Structure of Retention

• Basically all the employees of Collection & Retention

department maintain a chain of command which starts

from CSD (Customer Service Department)

• Then the command goes to HCE(Head of Customer

Experience).

• Manager follows the commands of HCE.

• Then the team leaders follow the direction of Manager.

• Team leader direct the tasks among the executive

officers and management trainee in airtel.

Organizational Structure of Retention

• To know the problem faced by customers & solve it

• To let the customers know the product in details

• To offer customers(post paid) prepaid package if

they are not satisfied with postpaid

• To find out zero usage customers in a value steamed

ways

• To follow up the activities

Functions of Retention management

• In airtel customers have access to something called My

Airtel, My Offer.

• Driven by sophisticated predictive analytics and Bharti

Airtel’s precise segmentation of its customer base, My

Airtel My Offer predicts the best possible plan for each

customer

• As per Bharti airtel , they have managed to reduce the

churn rate from 3% to 2%

• Today they can predict with 80% which customers will

churn

Banking Sector

Major Causes Of Attrition

• Employees not satisfied with the working hours in

the sector

• Increased competition leading to stringent targets

• Increase in the number of banks leading to

poaching for best employees

HDFC Bank

• Transparent work culture

• Quality of work

• Communication between employer &employees

Retention Strategies

• Appreciating and recognizing the performing employees.

• Providing adequate salary and other perks to keep employee motivated and satisfied.

• Occupational stress relives through implementing WLB strategy.

• Employee support, greater work autonomy and encouragement to participate in decision-making.

• Hire the right employee from the beginning.

Effective Performance

Management

The three keys of the PMS at HDFC Life

• Effective - Ensures people have the right capabilities to perform

• Strategic - Ensures broad objectives and long term goals are always in sight

• Integrated - Ensures linkages between all aspects of business, people and process

Learning And Development

• HDFC provides training in association with the ManipalSchool Of Banking.

• Designs, develops and deploys organisation wide knowledge, skill and capability improvement programs .

• Provides a unique learning environment to each employee.

• Enables assessments & certifications of the employees and distributors on domain and functional knowledge and skills.

YES Bank

• Recruiting the right people

• Training and Development

• Yes Bank - Manager - Employee Engagement

• 5-C Employee Engagement

Hiring In Yes Bank

• UNIVERSITY SCHOOL RELATIONSHIP MANAGEMENT (USRM)

• YES Professional Entrepreneurship Program (Y-PEP)

• Talent Management & Leadership Development Program

Training And Development

• YSB Internal and Knowledge Trainers

• Online Learning Solutions

• My Learning@YES

5 C’s Employee Engagement Model

� Culture

� Communication

� Career

� Connect

� Care.

Employee Manger Relation

• YES MENTOR

• Design and administer relevant Internal engagement surveys viz. New JoineeSurvey and Exit Survey

• Attrition Analysis / Exit Interview Analysis

• The employee satisfaction is much higher in case of Yes Bank.

• Higher Employee Engagement.

• Innovative practices like Facebook Workplace.

• Recreational Facilities.

• Rapid Growth for High Potential Employees.

• Regular Training To Employees.

• Cohesion and Cooperation among employees.

GOOGLE

• Google has some of the best perks in the country -- free

five-star food, five months of paid maternity leave, great

insurance, free yoga -- but its employees only last about a

year.(84% satisfaction rate)

• Google has grown from 9,500 to 28,500 employees since

2007, and the median age is 29.

Google’s HRM: Recruitment,

Selection, Retention

• Google’s success is based on its high quality human resources.

The company generally emphasizes smartness and excellence

among its employees.

• The retention programs at Google are designed to retain

excellent employees. These programs also attract employees

to the firm.

Google’s Recruitment Practices:

• Google’s human resource management uses a mixture of

internal and external recruitment sources to maintain the

adequacy of its human resources.

Google’s Employee Retention

Programs• Google’s compensation packages are the main HRM tool that

the company uses for retaining high-quality human resources.

• The company’s compensation packages are competitive andabove average. For example, Google provides high salariesand wages.

• In addition, employees get free meals and other incentivesand benefits.

• The typical design of the company’s offices emphasizes funand creativity, which attract and retain creative and innovativeworkers.

• Google’s human resource management uses coaching andmentoring to retain and develop employees with leadershippotential.

Whirlpool

• Whirlpool is an American MNC and a

leading manufacturer of home appliances.

• Recognition of a problem in talent

retention.

• Change in their approach and change in

technology

• Retention Risk Assessment Toolkit (RRAT)

What is RRAT?

• An operating system developed based on the

analytics gathered.

• The phases are,

1. Impact Whirlpool would face if employee

leaves

2. Likelihood that an employee will leave

3. Action plans to prevent regrettable loss

• After this, checking of the model.

First phase

• Whirlpool targeted a pilot group of 65 employees at the senior managers. They were trained on the toolkit and were provided with a “Retention Risk Manager Guide” and a “Stay Interview Manager Reference Guide.”

• To assess the impact on Whirlpool if an employee should leave, managers were asked to answer each of the following yes or no questions:

1. If this employee left Whirlpool, in the current business environment would we sustain a significant revenue loss or increased risk?

2. If this employee left Whirlpool, would we lose significant intellectual capital?

3. Is this employee in a critical role or on a Succession Plan for a critical role?

4. Is there a weak or non-existent contingency plan for if this role were vacant?

5. Would this role be difficult to fill both internally and

externally?

• The risk retention assessment includes 25 yes or no questions managers were asked to answer about their employees and their relationship to those employees. Questions are grouped into four areas: job/role, development and alignment to career goals, manager/employee relationship and external support system. Answers are then calculated to measure that employee’s level of “retention risk.”

• Whirlpool quickly discovered that many managers had difficulty answering a significant number of questions about their employees. Understanding the importance of the manager/employee relationship to retaining talent, Whirlpool created a template for stay interviews as a way to help managers answer those questions, and to create dialogue between managers and employees. This approach directly impacted the level of interaction between the diverse talent and their individual supervisors.

• After the first round of interviews was completed, both

managers and employees were given a survey about the

process. The two major findings from that survey were:

• Managers assessed their relationship with their

employees as being stronger than the employees’

assessment.

• There were some engagement factors that were

specifically called out by employees as important to

them that were missed by managers.

• Managers were able to reference the “Retention Risk Manager Guide” throughout the process. In the action planning section of the guide, for instance, managers could find concrete examples of actions they may take with their employees like:

• Have the employee complete their Development Plan / Career Compass. Gain alignment on the plan.

• Ensure you are recognizing your employees for their contribution either publically or privately.

• Recommend that the employee get involved with WHR Employee Resource Groups (Diversity Networks) or in the local community; foster these connections

• Identify 1 developmental opportunity for the employee to attend in the next 90 days; commit to supporting with time, resources etc.

• Ensure regular 1-1 check-ins to discuss work progress and any issues/concerns with achieving the employee's objectives. Ensure at least one discussion per month focuses in on longer-term development as well. This could be a supervisor, a manager once removed or a functional leader.

• As an extra layer of support during the pilot process,

Whirlpool created focus groups for both the

managers and employees to discuss the process.

These quarterly meetings have been particularly

valuable for the managers who have appreciated the

opportunity to share their experiences with their

peers and to learn from each other.

APPLE• The Wall Street Journal reports Apple CEO Tim

Cook just started exploring the world ofemployee benefits, such as product discountsand matching charitable donations.

• As Apple works to satisfy employees’ needs tobetter control their jobs by making projectassignments more flexible, he also shows hisappreciation by “gushing” about employees tothe media.

• This is a positive, smart move by Cook, but ifdone wrong, Apple can experience hazardouspitfalls completely detrimental to employeemotivation.

The Positive.• Apple’s employment brand has all of its, well, apples in

one basket: you are cool if you work here.

• We are successful, and as an employee, so are you…which makes you cool.

The Pitfall.

• Apple has built a strong workforce despite a lackadaisical demonstration of its value of employees. Why? Because going above and beyond to reach a goal elicits the “justification effect.”

• These excuses become part of the internal dialogue and justify, for employees, putting up with long hours and tough bosses.

• If there wasn’t a good reason for running the gauntlet, they’d just be stupid for taking the abuse – and no one likes to feel stupid.

Finding the Balance.

• Cook and Apple’s HR are on the right path–they needto proactively manage the risk of employee flightshould the company face challenges in the future.

• Apple’s tricky task is to give employees signals thatthey are valued without dousing the flame of intrinsicmotivation.

• Hiring the right people helps. Apple's current brand of“successful cool” attracts employees who value highperformance and being on the cutting-edge. Theircareer site says, “You’ll be challenged. You’ll beinspired. And you’ll be proud. Because whatever yourjob is here, you’ll be part of something big.”

• Apple is also flirting with giving employees more

choice in assignments. If managed perhaps by a

combination of high past performance and

tenure, the option to be able to choose the

sexiest projects might just convince people to stay

as they rack of the tenure needed to have more

control over their jobs.

• Think frequent flier miles: the more experienced

you are, the more perks you get. Using this

approach, the employee retention isn't based on

vesting stock, a strategy that will keep people

until, of course, the stock vests.

� Oracle-an American multi national computer technology corporation, the

second largest software maker by technology.

� How it manages employee retention?

Follows 6 key practices:

Recruit the right people in the first place.

Improve line manager’s ability to manage.

Give employees constant feedback about clear, meaningful goals.

Empower employees to manage their own careers.

Proactively drive talent mobility.

Continuously measure and improve retention strategies.

�Ensure an accurate match between role and candidate.

• Automated skills-based matching

�Speed up the recruitment process to secure top candidates.

• Automate workflow of recruitment process

�Proactively build talent pools of suitable candidates.

• Build and mine talent pool database

�Ensure new hires are productive as soon as possible.

• Coordinate all onboarding activities

Retention Recipe: Recruit Right

�Manage people based on facts and data. • Single system for all aspects of talent management

�Provide intuitive, useful talent management systems designed for the line manager. • Web 2.0/consumer internet usability

�Provide relevant data to support decision-making. • Context-based analytics

�Prompt everyday interaction with talent management tasks.

� Integrate talent tools with business tools like Microsoft Outlook

Retention Recipe: Manager

Excellence

�Clear line of sight from employee goals to unit/company goals.

• Cascading goals management

�Gather feedback from a broad, relevant audience.

• Establish networks of reviewers

�Capture feedback on a regular basis.

• Easy logging of feedback from e-mail correspondence like Microsoft Outlook

�Facilitate regular reviews of progress.

• Intuitive goals monitoring systems

Retention Recipe: Clear Goals…

Frequent Feedback

Goals are linked with best-practice

performance management process

�Enable employees to define and analyze

career preferences.

• Self-service career planning tools

�Base career paths on actual career histories.

• Analyze role change data for career paths

�Empower employees to find and engage

mentors.

• Intelligent internal networking capabilities

Retention Recipe: Career Planning

�Clear visibility into internal job opportunities.

• Online promotion of open roles

�Approach internal candidates with relevant opportunities.

• Matching of employees to open roles based on talent profile

�Extend succession planning to broader set of roles.

• Automated search and easy-to-use succession planning systems

�Maximize fill rate from succession plans.

• Integrate succession planning and recruiting systems

Retention Recipe: Talent Mobility

�Capture metrics across all aspects of retention

strategy.

• Unified reporting and data warehouse

�Explore issues to understand underlying causes.

• Analytics and drill down on talent data

�Adapt strategies to improve retention

performance.

• Flexibility to reconfigure talent management systems

quickly and easily

Retention Recipe: Metrics and

Analytics

In your opinion what should companies do to

retain employees and difference between your

and general opinion??Class Opinion

�Lucrative remuneration.

�Giving roles according to competency.

�Unbiased promotions.

�Salary increment on annual basis.

�Employee engagement program in

activities other than work.

�Recognition for work.

�Working hours should be defined and

overtime incentives should be given.

�Cross Domain knowledge in different

departments/technologies.

�Compensation for family members on

a quarterly basis.

�IT- On shore opportunity in a short

duration.

General Opinion(as per Internet)

�Offer a competitive benefits package that fits

your employees’ needs.

�Provide some small perks.

�Use contests and incentives to help keep

workers motivated and feeling rewarded.

�Conduct “stay” interviews.

�Foster employee development.

�Create open communication between

employees and management.

�Create an environment that makes your

employees feel like an asset to your company.

�Make expectations and goals of the

company clear.

�Create an open and honest work

environment.

�Recognize and reward good work.

Where is the difference between the two

opinions?

� Conducting “stay” interviews: In addition to performing exit interviewsto learn why employees are leaving, consider asking longer-tenured employees why they stay.

� Make expectations of the company clear: Be sure you have job descriptions so your employees know what is required of them.

� Create and open and honest work environment: Give feedback on work performed and be willing to listen, really listen, to the concerns of your employees.

� Provide opportunities to grow and learn, and let your employees know there is room for advancement in your company: Provide tuition for continuing education classes. Give challenging and stimulating work.

� Create an environment that makes your employees feel like an asset to your company: Don’t make them feel like overhead. Allow them to feel secure in their job.

� Offer work-from-home options for your current employees.

That’s Magic of

EMPLOYEE RETENTION