Employee Retention Strategy

Solutions that will Attract and Retain Your Best Employees

Successful organizations realize by having an effective employee retention strategy will help them sustain their leadership and growth in the marketplace. Most businesses focus on employee retention when employee turnover starts to increase. However, good organizations make employee retention a core element of their talent management and organizational development strategy. Those that fail to make employee retention a priority are at risk of losing their top talented people to the competition. For the past two decades, we have helped executives design employee retention strategies that provide a comprehensive road map for not only attracting and keeping talented employees, but for motivating and engaging them to achieve a higher level of performance. Employee Engagement and Job Satisfaction Our services provide you with the knowledge, skills, tools, and processes to help you design a unified talent management and employee retention strategy that will lead to low employee turnover and high employee retention. You will learn the driving forces that drive job satisfaction and employee engagement leading to high employee retention. Our employee retention and talent management strategies will help you: Implement an employee retention strategy to retain your top people Use reward and recognition programs to improve motivation and reduce employee turnover Design an effective employee orientation program for new employees Become an employer of choice organization Use creative incentives to get people to work harder and stay with you longer Create an Employee Value Proposition (EVP) and learn how to “brand” your EVP both internally and externally Improve communication in your organization Use "Talent Development Plans" to create career ladders in your company Use employee engagement programs that energize and engage your workforce Factors that Drive Employee Turnover and Job Satisfaction Employees quit for many reasons. Some leave for better paying jobs elsewhere. Others depart because they do not fit the culture. Many more exit because their managers and supervisors are not properly trained. In general, there are five important areas that motivate people to leave their jobs. Poor match between the person and the job Poor fit with the organizational climate and culture Poor alignment between pay and performance Poor connections between the individual, their coworkers, and the supervisor Poor opportunities for growth and advancement These five P's can be addressed successfully. Employee retention begins by paying attention to what causes low job satisfaction as well as what attracts, retains, and motivates your workforce. Here are several reasons talent management and employee retention strategies fail in many organizations. Not connected to the vision, mission, and the organizational values Top leadership not involved Not part of the organizational management strategy Not tied to the bottom line No clear goals No one held accountable Delegated to the HR department Cost of Employee Turnover The cost of attracting, recruiting, hiring, training, and getting new people up to speed is tremendously more costly as well as more wasteful than most realize. Productivity is directly tied to employee retention. Studies from the Gallup organization show employees who have an above average attitude toward their work will generate 38 percent higher customer satisfaction scores, 22 percent higher productivity, and 27 percent higher profits for their companies. (Source  - http://www.chartcourse.com) - Edited