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Employee Retention of Bellwether Technology Corporation

Discuss Employee Retention of Bellwether Technology Corporation within the Human Resources Management (H.R) forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Bellwether Technology Corporation is a New Orleans-based IT company. Also known as "Bellwether Technology" or "Bellwether," the company provides a ...

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Pratik Kukreja
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pratikkk
Student of PGDM at PATLIPUTRA MEDICAL COLLEGE
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Employee Retention of Bellwether Technology Corporation - April 1st, 2011

Bellwether Technology Corporation is a New Orleans-based IT company.
Also known as "Bellwether Technology" or "Bellwether," the company provides a wide range of managed information technology services to organizations of all sizes throughout southeast Louisiana.
Bellwether is also an official reseller of Microsoft, HP, Cisco, and VMware products and solutions.[1]
Established in 1980[2], Bellwether has 33 total employees.[3] The company's main office is located in the Federal Reserve Bank building in the New Orleans Central Business District. The company also has an office in Madisonville, Louisiana, located just north of Lake Pontchartrain.[4]

Polls of construction companies nationwide have shown that the number one issue facing the industry today is shortages of skilled workers. Construction firms have found it more and more difficult to find qualified, experienced personnel.

Companies committed to success and growth will likely perform the following: Ensure that the right personnel are retained through a broad range of benefits.

Proactively manage bidding processes and growth strategies to ensure that the Company does not place excessive burdens on staffing levels.

Ensuring that the right personnel are retained is essential to any organization. A variety of options are available to keep retention rates as high as possible, these include:

1. Provide a range of benefits that appeal to a range of employees.

Surveys of employees over the past few years have consistently shown that employees respond to benefits that are linked to performance, or that provide individuals with training and opportunities beyond the normal working environment. The construction industry typically has not embraced employee programs such as policies for education or community service, seminars and workshops (on topics such as stress, nutrition, smoking, communication), access to fitness facilities, etc. However, these ideas have been successfully implemented in other industries, and similar ideas may offer potential for construction companies to differentiate themselves from their competitors.

2. Offer incentives that vest over time.

Employees will be more inclined to make a long-term commitment to the company in order to reap the rewards of the benefit. These plans can also offer owners a tax efficient way of managing their succession plan. For example, incentive plans that offer future benefits through vesting include Employee Stock Ownership Plans (ESOPs), Phantom Stock Plans, Deferred Management Bonus Plans, Annuity Contracts, and Insured Security Option Plans (ISOPs).

3. Provide personnel with the right training at the right time.

Most employees want to grow in their careers. Companies need to work with employees to develop personalized training programs that meet both the developing needs of the individual and the long-term strategies of the company.

Companies also need to ensure that their workload is commensurate with their staffing levels. Bidding processes and growth strategies need to take into account the company’s access to labor. The company needs to consider its current labor capacity, the quality of the project, the quality of the owner and potential profitability (not just cash flow) of the job. All of these considerations will allow the company to target its limited labor resource to those activities that provide the greatest rewards.

Successful companies are committed to retaining qualified people, rather than relying upon their ability to hire. As the shortage of good employees continue, employee turnover and retention rates are likely to be just as important performance indicators as gross margin, current ratio or backlog.

If you would like additional information on developing employee retention strategies, please contact your local Moss Adams office.

Positives :
Good inforastructure and facilities in the campus everywhere. Positives are for everyone else to see for themselves. You have everything you need being at office and neednt go out for any specific needs. Communication facilities, tools and equipment to do specific tasks, all are available at mouse click or a short walk away.
Negatives :
No flexibility on timings No focus on overall development When a company is growing, each unit of the company needs to contribute to ensure positive growth for the company. But when there are unhappy employees, this seems a little far fetched. For the employees to be happy, the tangibles and intangibles need to be available to employees at their preferences, which is not the case. The great facilities for everyone to see are for the visitors but employees hardly have access or time to use the great things available at campuses.
Advice to Management :
Take care of lower rung of employees. They are the building blocks of a successful team. The management team needs the specific units or building blocks to perform for them. Invest in their life beyond work, invest in their holistic development, invest time with them in their personal life and see the results improve, the employees would never leave the organization.

Work Culture : Average
Career Growth Prospects : Average
Management : Good
Salary and Benefits : Average
Work/Life Balance : Average

If your company is like most, your employee benefit plan has become a bit flaccid over the past couple of years. Where’s the first place most execs cut costs when the going gets a bit rough? Yep. Benefits.

What’s the big deal? Every other human resources employee benefits shop has had to do the same thing, right? It’s not like you’re alone in this “Great Recession.”

But the times are changing, again. While you might not be feeling it quite yet, the recovery has begun. Small businesses – widely regarded as a reliable economic bellwether – have been hiring since mid-2009. The “jobless recovery” isn’t quite as jobless as many believe, which means two things:

Your top talent is more valuable now than a year ago.
You need to employ high-return employee retention techniques.
Among the best practices for employee retention are so-called “employee retention wellness programs” – a unique double-duty category of employee benefit packages. The moniker comes from such programs’ pedigree as employee benefits related to health/wellness, designed to lower healthcare costs, improve productivity, and reduce workplace stress.

But these programs also have exceptional value as employee retention techniques. This is due to three key factors:

Nearly two out of three employees are quietly searching for jobs right now. You read correctly – almost 2/3 of your staff is peeking over the fence, looking for greener pastures, even during this time of scarcity. They know that top talent comes at a premium during a downturn.
20% of employees report that your employee benefit package is their most important stay-or-go decision consideration.
If your staff doesn’t like your employee wellness benefit program, they are four times more likely to leave your company in the next year.

It’s still too early to gauge how much the company
can save over the long term by switching to
Benefi tConnect. However, Alliance Data executives
say preliminary data showed transaction costs
dropped by more than 10 percent.
But cost saving was never the primary motivating
factor. The goal was to improve service and
provide more transparency, better technology and
a superior call center experience. In all these
areas, Benefi tConnect is meeting expectations.
In a phone survey, more than 97 percent of
Alliance Data associates reported satisfaction with
the new system. A built-in feedback tool within
Benefi tConnect has yielded comments such as
“This was much easier than last year. Thanks for
the great improvement,” and “Much quicker. Thanks
for making it so easy for us.”
The ease with which associates have adapted
to the new system has been especially helpful
during the economic downturn, allowing Alliance
Data executives to focus on strategy rather than
troubleshooting transactions. Says Tucker: “Having
such success allows us to focus and deploy our
resources toward HR initiatives that drive more
value to our internal business customers.”
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Last edited by pratikkk; April 1st, 2011 at 05:30 PM..
   
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