An employee's expectations are less on financial fronts, but more towards how he's treated and how he is valued. Much of this depends directly on the immediate supervisor. If organization is losing good people, then their immediate supervisor are to be analyzed. More than any other significant reasons, they are the reason people stay and thrive in an organization. 'People leave managers not companies'.

The first time, an employee may not quit because the associate shows a degree of tolerance, but a thought of quitting the organization has been planted by the associate. The second time, the thought gets more strengthened and the associate starts evaluating his/her market value. And by The third time, he starts looking for other job opportunities as he/she is very firm on quitting the current organization.

Analysis reveals that the employees leave because they have been pulled away by 'more pay' or 'better opportunity.' Yet, more than 80 percent of employees leave because of the 'push' factors related to poor management practices or toxic cultures that drove them out.

How to prevent it

The basic step of employee retention is 'employee satisfaction', as they are no longer employees, but are Internal Customers to the organization. A strong association exists between employee retention and the quality of service delivered by the Organizations.

If an employee feels sidelined or not getting due respect/returns, discord is unavoidable.

Loss Analysis

Cost involved in losing a talented employee.

1) There’s the cost involved in finding a replacement.
2) There is cost of training the replacement.
3) There is cost of not having someone to do the job in the meantime.
4) The loss of hold the person have on the workflow and processes
5) The loss of morale in co-workers.
6) The loss of trade secrets this person may now share with others.
7) A person leaving an organization becomes its brand ambassador, for better or for worse

An employee's expectations are less on financial fronts, but more towards how he's treated and how he is valued. Much of this depends directly on the immediate supervisor. If organization is losing good people, then their immediate supervisor are to be analyzed. More than any other significant reasons, they are the reason people stay and thrive in an organization. 'People leave managers not companies'

The first time, an employee may not quit because the associate shows a degree of tolerance, but a thought of quitting the organization has been planted by the associate. The second time, the thought gets more strengthened and the associate starts evaluating his/her market value. And by The third time, he starts looking for other job opportunities as he/she is very firm on quitting the current organization.

Analysis reveals that the employees leave because they have been pulled away by 'more pay' or 'better opportunity.' Yet, more than 80 percent of employees leave because of the 'push' factors related to poor management practices or toxic cultures that drove them out.

How to prevent it

The basic step of employee retention is 'employee satisfaction', as they are no longer employees, but are Internal Customers to the organization. A strong association exists between employee retention and the quality of service delivered by the Organizations.

If an employee feels sidelined or not getting due respect/returns, discord is unavoidable.

Loss Analysis

Cost involved in losing a talented employee.

1) There’s the cost involved in finding a replacement.
2) There is cost of training the replacement.
3) There is cost of not having someone to do the job in the meantime.
4) The loss of hold the person have on the workflow and processes
5) The loss of morale in co-workers.
6) The loss of trade secrets this person may now share with others.
7) A person leaving an organization becomes its brand ambassador, for better or for worse

What employees want?

A universal truth 'every human being needs to be valued' and same to the employees. Whether it is an employee or a friend or a family member, when a contribution is made, recognition is what one seeks. When an employee is contributing his/her nine hours a day to the organization, he has some expectation that succeed the salary cheque at the end of the month. He wants to be getting acknowledged that 'he matters and makes a difference'.

Also the financial component too plays a major role because at the end of the day if that's not there then he feels that he has not been really been recognized for his worth?

Increasing Productivity

Happy people work better. The more one loves the job the better one performs. Thus, if the motivation levels are up and employee morale is high then higher levels of productivity are guaranteed. If a employee being proud to belong to the organization and vice versa, the employee put in whole and soul into his work and ensuring maximum output.

Human resources

Recognizing the individual capacities and abilities and appreciating each employee for what he is, and what contribution he makes to the organization is an important step towards achieving organizational development. For this, the organization is completely dependant on the 'reporting managers'. Top Management in the organization cannot know each individual as interaction levels are minimal. Thus, it is up to the middle level management to handle day to day situations and evaluate the resources who report them. Handling each person properly, knowing traits and assets as well as boosting them to overcome drawbacks, identifying areas for improvement are all important tasks to be carried out by middle management. This especially holds true with respect to IT, as pressures are high, deadlines are impossible and very often it is not possible to get a resource that is 100% fit for a particular job.

Reorganization and Acknowledgement

Nothing motivates a person more than recognition. A methodology of reward deserving resources is not only a way to ensure enhanced performance from the individual, but also motivate other members of the team to strive towards this recognition. Recognizes deserving candidates irrespective of the type of contribution they make towards the team's success.

Organizations spent more than 50% their time and energy in hiring new resources without investing much time in the way their human resources can be retained. Fact is, it takes 25 to 30% more for organization to retain the existing qualified resource as compare to spending more than 50% in getting new resource as a replacement of an existing resource.

Hitting when it is Hot

For majority of people, to feel a sense of belonging is important not to feel left out. Thus, transparencies in dealings, as well as involvement in decisions are important communication channels that need to be open at all times. It is vital for resources to be aware of the directions that are being taken not only in their unit, but also across the organization. The content and timings of communications are important- to touch the employee at the right place and the right time - to ensure a stress free work culture, and a profitable one.

Empowerment

Empowerment brings responsibility. Thus empowerment serves as one of the most powerful tools of employee retention. If employees are involved in organizational aspects such as participation in decision making processes, implementation of certain best practices for which they get ownership, it creates a sense of belonging within the person and a reluctance to leave the employer if the option arises.


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