Employee Retention Strategies

[laurentandbenon]

Retaining talented employees is one of the topmost priorities of employers today. Reasons for attrition could be the innumerable changes engulfing workplaces, like reorganization, higher performance standards and resultant high-pressure levels.

The challenge is not only to attract the best talent but also to retain them. Rising opportunities for career development, lifestyle decisions, job mobility, unbalanced work life, poor mentoring and stress are some factors which influence an individual's decision to continue or quit.

Retention can be categorized in 3 levels: Low, medium and high level.

Low level
• Appreciating and recognizing a well done job
• Recognizing professional as well as personal significant events
• Providing benefits
• Providing perks
• Providing workplace conveniences
• Fun at work
• Occasional stress relievers
• Employee support in tough time or personal crisis

Medium Level
• Appreciating and recognizing a well done job
• Benefit programs for family support
• Providing conveniences at workplace
• Providing training and development and personal growth opportunities

High Level
• Promoting work/life
• Understand employee needs
• Encouraging professional training and development
• Provide an environment of trust
• Hire the right people from the beginning

By Priti Shah