With the fast changing monetary & industry conditions, businesses are facing quite high pressure to perform which need them to have best people to work with, to maintain their encounter minds, they would like to be the most accepted employer inside the eyes with their prospects (future employee). To keep their best ability companies are taking on various creative strategies. In respect to DQ-IDC recent review on the causes that make people change the task, the most important explanation was earnings & settlement but apart from that Career Development, Location, Flexibility of workplace hours, Job Security, Organization Culture & Welfare guidelines emerged because the main reason of changing job.
There is not very much change within the attrition the front we have seen even following following many strategies, the greatest attrition level is still in IT industry which is 18%, followed by banking & economic companies. The average retention charge has dropped from 82% in 3 years ago to 79% in 08. Now whenever we look what companies are doing to retain their very own employees, we could find various interesting issue. Some of the innovative retention strategies/practices followed by companies are
1 . Flexi timing: , Many Companies happen to be following this strategy like Aditi technologies, Systems applications and products Labs etc . It seems these businesses have got the best software of flexible timing. 2 . Fun @ Operate: – Many companies have made fun an integral part of the significant & all their companies ideals, some of them have linked the enjoyment with their efficiency appraisal system like Wipro BPO, Acclairis Business solution pvt. Ltd., VCustomer Corp. etc . three or more. Training & Development prospect: , Many organisations have recognized that all their people are the most important assets therefore they want a continuous up gradation of their staff through short term training & development programmes.
4. Admiration Your Employee: , When we look at the recent survey upon “Employee retention we can get respect & recognition at the work place has emerged because the one in the main reason of fixing job. Nearly every company is trying hard to pay due respect for their employee by many programme. Immediately award, Self Appraisal, Foreign trips, “Get well soon Flower arrangements for unwell employee or family members will be such programmes to show the respect for the employees.
your five. Empower The employee: , It is not an issue of big surprise that Marriott Hotel India every employee is called “Associates and the “Sir culture is absent presently there, Associates will be empowered enough to take decision, the same way RMSI who have separated his staff to estimate their own performance bonus, whenever you want on the net. 6. Connect the Space: – Programmes such as “Coffee with GM in Marriott Hotel, “Good Morning Qualcomm in Qualcomm, Breakfast meeting by CEO etc Happen to be tool to improve the interaction & fill up the interaction gap among Manager & their subordinate & as well to bring justness in the program. 7. Use Friends: , Many companies just like Perot Program hires 40% of the worker through staff referral funnel to create a friendly college like environment & to bring a sense of belongingness among the employee.
eight. Best Prize System: – Many firm started home chosen incentive system in which an employee can decide his/her own concentrate on & praise, organization are adopting 3600 performance appraisal system to get the justness in evaluation system. Apart from above model I have seen many interesting example just like Mind Woods consulting’s “Baby’s Day Out programmes, Antakshri programme, Departmental Day Outs, Annual Early spring party, Sabbatical for sociable services, Cadbury day, Dhoom machale etc . are some example followed in various organization to control the attrition. After seeking all the above aspects in nut shell companies should take into account the most extensively accepted HUMAN RESOURCES definition which can be the best rule to retain the employee & that is, – “The genuine concern of people.