Online Tutoring on Key Strategies to Retain Best Employees of an Organization

Introduction

Organizations consider their employees as one of their most important assets. In today’s world the HR department of any organization intends to retain its employees and keep them bonded with the organization. The rising competition in the market makes multiple opportunities available to an employee and they constantly compare their organization with competition in terms of Salary, Benefits, and Training, etc. (Roxas & Chadee, 2015). The HR team implements various strategies which keep the employees motivated intrinsically and extrinsically, similarly in the below assignment such strategies have been proposed for employee retention.

 

  • Employee Orientation and Onboarding

In this context an organization needs to realize that the initial stage of orientation is a vital stage where an employee is exposed to the organizational culture and values. At this stage the HR person should make sure that an employee should be given introduction not only to the organization itself but also guided through the different ways though which he or she can thrive (Lee & Teng Sung, 2017). This step should be presented in detail and not in a form of a short glimpse as it’s the level where a new hire sets his aim that how much growth will he/she receive in this organization and when to make the next career move.  It’s the HR at this stage and the team members of the new hire who have to assure that he/she will gain monetary growth and hierarchical growth simultaneously,

 

  • Advisory and Mentorship programs

These are the programs that play a vital role in retention of an employee and attract them to the organization. The organization needs to make sure that the true purpose of mentoring is served which is to transfer the existing set of knowledge of high performing employees to junior or new employees to advance their career (Thanacoody & Hui, 2012). These programs are very helpful to earn trust of employees as they are shared valuable experiences in terms of business scenarios. Besides sharing key experiences, the Mentors should also appreciate the employee on their cross questioning to make them more glued to the eco environment of the organization. The mentor should be in touch with HR person to inform that how well an employee is going and what sort of aspirations does he or she possesses.

 

  • Employee compensation

It’s the salary that provides compensation for all the tasks that are performed by an employee. The organization should determine that what salary and benefits are being offered in the industry and such information is very delicate to know so HR person can surf through various online website where ex-employees write about the different benefits which they were being offered in their organizations.  In the present era where organizations have financial pressures so instead of offering higher packages they should establish SMART goals for employees to balance their level of satisfaction and performance simultaneously (Miller, Erickson & Yust, 2001). With the help of SMART goals employees will be well versed of the goals that they have achieved versus the amount of benefit they have received fairly & by doing so they can also negotiate with HR on logical grounds.

 

  • Wellness offerings

Employees these days aren’t working for monetary or growth reasons only, they are very conscious about their mental health as well. To keep its key employees retained an organization should denote that it is well versed about the stress levels of its employees and their overall physical wellbeing. An organization should offer wellness programs like, Gymnasium classes, Healthier snacks, and Assistance programs, Yoga etc., these activities communicate to an employee that how important he or she is for the organization. The employees of an organization are not only de stressed but most importantly they are made felt that they are being taken cared off. The wellness programs will also offer the employees to mingle as a family where their mutual ties are strengthened which might have been not as good in the past due to work pressures (Mathis & Jackson, 2010). During these programs HR professional can also silently monitor various employee behaviors to identify which employee needs more attention from retention perspective as they level of interest of an employee in these activities will depict that how much bonded is he or she with the organization.

 

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  • Communication and Self Worth

It is one of the most important variables in the relationship of employee and organization. There needs to be a two-way communication between the both where an employee is provided with information of what tasks are to be achieved by him/her related to the job description, whereas on the other side employee should have clear access to approach for sharing ideas, questioning etc. through established channels. An organization may have formal or informal channels of communication but it’s very important from retention perspective that employees are given right to communicate and avail the relevant information that they need (Kubetti & Dhankar, 2014).

 

  • Yearly Performance Reviews

An employee needs to be constantly bonded with the organization throughout the year whereas it’s vital to have a yearly review where the performance graph of an employee is discussed by HR. The HR needs to maintain complete track of goals achieved by an employee which may be financial or non- financial and on the basis of this record face to face conversation is to be done with employees (Irshad & Afridi, 2014). The purpose of these sessions would be to discuss the ups and downs of performance and also to know about the pain points of an employee.

 

  • Training and Development

Employees look towards growth in all dimensions including monetary, Hierarchical and Knowledge. Training and development constantly upgrades the knowledge and skill set of employees so an organization should make sure that it regularly conducts training sessions for them. An organization can train its employees in the areas of Soft Skills, Technological Trends, Business Models etc.; the core purpose would be to increase an employee’s performance though learning (Huselid, 1995). Consecutive sessions of training and development would prevent an employee from thinking that his/her learning has come to a pause in the current workplace. The training sessions would lead to retain employees as this act will satisfy their thirst of knowledge and they will be happy to gain more skills.

 

  • Rewards and Recognition

It is part of human nature that whenever we are appreciated we feel happy and more bonded with the work we do. It’s very important for employees to be appreciated for the tasks that they have achieved as this shows them that how important is their effort for the organization.  The employees even if are not able to achieve a particular goal even then they should be bucked up for their efforts so that they don’t feel unfit in the environment they work in. Employees should be sent thank you emails, gift cards or even a day off from their reporting authorities to boost their moral (Ryan C, 2000). They should be appreciated for their ideas and suggestion to retain them for longer periods and also to boost their creativity during their period of employment as all employees have a desire to be praised for their work.

 

  • Work life balance

Employees can be retained by maintaining a work life balance they should be assigned tasks which are doable within office hours or which can be completed the next day. All employees work to make money but if the work pressure increases to an extent that their mental health and personal life is getting hampered so they look forward to move on from that Job (Roxas & Chadee, 2015). The tasks assigned to a particular employee shall be attainable within normal work timings and shouldn’t require a 24 hour working period as this will deter their mental health and overall efficiency. If a project is important enough to be worked late night so in such situations employees should be offered late arrivals for the next day so that they can form balance between work and personal life.

 

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  • Dealing with change

Due to increased burdens of financial crisis manager have to make tough decisions of Downsizing, Rightsizing, or Golden handshakes. Employees should be kept informed or posted about the changes being taken within the organization so that there shouldn’t be any sorts of panic (Miller, Erickson & Yust, 2001). Due to cancellation of orders a firm may decide to say good bye to extra labor but this decision should not affect the key players of the organization, they should be communicated the economic reasons of such decisions. Announcements should be made individually or in group meetings as rumors can harm well performing employees and impact their retention.

References

Banjo Roxas & Doren Chadee (2015). Looking beyond HRM practices in enhancing employee retention in BPOs: focus on employee–organization value fit

Huselid (1995). The impact of resource management practices on turnover, productivity, and corporate financial performance. Academy of Management Journal.

Muhammad Irshad & Fahad Afridi (2014). Factors affecting employee retention: Evidence from literature review.  Abasyn Journal of Social Sciences. EBSCOhost.

Lee & Teng Sung (2017).  Employee Retention and Job Performance Attributes in Private Institutions of Higher Education. International Journal of Business and Administrative Studies.

Mathis & Jackson (2010). Human Resource Management. 13th Edition. USA: South-        Western Cengage-learning.

Mehta, Kurbetti and Dhankhar (2014). Study on Employee Retention and Commitment. International Journal of Advance Research in Computer Science and Management Studies.

Miller, Erickson & Yust, (2001). Sense of place in the workplace: The relationship between objects and job satisfaction and motivation. Journal of interior design.

Newman, Thanacoody, & Hui (2012). The effects of perceived organizational support, perceived supervisor support and intra-organizational network resources on turnover intentions.

Ryan C (2000). Employee retention-what can the benefits professional do?  Employee Benefits Journal. Top of Form

 

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