Managing Employee Retention and Turnover Employee retention has always been an important focus for human resource managers. Once a company has invested time and money to recruit and train a good employee, it is in their own best interest to retain that employee, to further develop and motivate him so that he continues to provide value to the organization. But, employers must also recognize and tend to what is in the best interest of their employees, if they intend to keep them. When a company overlooks the needs of its employees and focuses only on the needs of the organization, turnover often results. Excessive turnover in an organization is a prime indicator that something is not right in the employee environment.
In management, there are many functions a manager has, and even more skills a manager must possess. Managers must have technical skills, conceptual skills, and especially human skills. For a manager to have human skills, it means that they can understand, communicate, support, and motivate their employees, helping them to reach high levels of productivity. Employees who are managed by someone who genuinely cares about them, are more happy and more productive, therefore benefitting the company as a whole. A manager must understand their employees because it is important to be able to correctly read their employees’ feelings.
If one were too look at attraction, retention and development of employees across the categories of extrinsic vs. intrinsic motivation, it would be apparent that extrinsic motivation is said to be dominant only for the attraction piece. The lure of some type of external compensation is always appealing to bring people in, however, it is not enough to make them stay, or commit to reaching for more in an organization. Due to this, successful managers understand that if they are to motivate employees, they have to do so through intrinsic methods. The goals and work of the organization have to be set up in such a way that the extrinsic is always a second thought to the intrinsic benefits of working there.
Employees at the top level tend to work harder because they are perceived as role models by others in the organization. Criticism is an inevitable part of life but one should know the right way to handle it. Managers are taking out time from their busy schedule to review employee’s performance indicates that they care and value their employee’s inputs. Managers wish to contribute to the growth and trajectory of their employee’s career. Feedback is not about personal attacks, it is about improvement.
dedicated employees who do not mind putting in extra effort for additional work when required. The most important factor affecting work culture is the relationship with the immediate boss. No doubt rewards and incentives are important but a responsible manager realizes that many other factors also account for employee motivation such as job satisfaction, work environment including safety features, career support and opportunities for career growth, faith in company management and senior leadership, equitable pay package, peer relationship, suitability of the job as per the person’s skills and experience, etc. A responsible manager has to look beyond self-interest as a source of motivation so as to engage and retain employees while maintaining a good image of the company for all stakeholders and the business community. The manager also sets an example for the employees to follow.
The purpose of conducting this research is to identify that how work design affects on employees performance and how motivation helps to influence the employees to actively perform job tasks, that whether job design maximize performance or not. Job design should be aligned with the employee’s capabilities or desire. Employees are an important asset of any organization so, organization should make sure that whether their employees are satisfied with their roles or not. Work design according to one’s own choice brings involvement and satisfaction among employees. It is foremost responsibility of HR department to understand the significance of job design because improved job design will lead to employee’s satisfaction and will result in better performance.
Employees want to know that they are valued and the company is truly interested and invested in their future. A strong career development and training focus will also enhance retention efforts. Any investment made by an organization to strengthen talent and create a retention culture will pay large dividends in today’s job market. Career Development Career development is an emphasis on employee training intended to help an employee meet his or her personal career objectives. By coaching an employee and helping them to develop the skills for the position that he or she desires, organizations typically see a higher level of commitment and better retention from its key employees.
For some satisfaction may be in terms of monetary policies like incentives, insurances, pay hike. And for some it may be challenging work environment, recognition for the work, advancement in career. JOB-INVOLVEMENT: - this identifies how much an individual is emotionally attached to his job. If an individual likes his work, he is bound to have a positive attitude towards his work.it talks about the involvement of the individual in his/her work. Right attitude here plays a major role.
MOTIVATING YOUR EMPLOYEES Every human being needs motivation now and then. Incentives and recognition programs can support you in helping your employees become happier and more productive at work. As a leader, one of the main things to think about is how to recognize an employee for a performance that has exceeded expectations, objectives and goals. Therefore, I would like to introduce you in this paper to some ideas that hopefully would promote this method as one of the main priorities in today's and tomorrow's workplace. People want to do more than work as machines; they want to be productive as well as being recognized by others.
HR professionals must take a long-term approach to building an image that prospective employees are looking for. Suggestions would be to provide training, job rotation, job enrichment, and training opportunities, in addition to pay and benefits. HR is also responsible for seeking out and identifying those who will be great performers. Just as the employee is interested in the best company, the company needs employees that are best for the company. Once hired, HR must continuously evaluate their workers, as some workers may be determined to perform better in a position other than the one they were hired for.