How to Retain Employees?

The question pertaining to employee turnover is years old and the answer lies in maintain balance between organization’s goal of cost cutting and proper incentivization of employees. So here we will discuss on the key areas that employers can focus on:

• 1. Finding reason for Resignation: A healthy discussion without judgements should be done with the employee who has resigned or informed his senior that he may resign. The questioning should be done by someone who is empathetic by nature itself towards other human beings. Finding the actual cause can get half work done.
• The employee may ask for increment or may be leaving due to some rift with his senior or may have been succumbed to harassment. He/she may reveal the real story only to someone who is non-judgmental in nature. The reasoning should be kept confidential, even after they leave. If possible, then resolve his problem.

• 2. Policy on incentivizing good work: It is high time now that the companies should have written policy on increments and incentives. This will ensure safety to the employees from the date of joining itself. Also, the policy should be as per labor laws and should not be harsh. The targets set, if any, should not be unreasonable to achieve for an average employee.

• 3. Awareness of the policy to every employee: Just making policy and keeping it in closed doors is not sufficient. Every employee should be given a copy of the same and if any changes are made then the same should also be communicated. This will ensure transparency from the side of company. Also, in normal circumstances, changes shall be made only on yearly basis.

• 4. No termination without giving opportunity of being heard: It is often seen that in order to satisfy their egos, seniors terminate their juniors without giving them any notice and without listening their side. Every company must have a Committee who has the responsibility to hear both sides and then take a decision.
• The culprit should not be made judge of his own case. Also, if termination is at all necessary, then at least 30 days advance notice be given to the respective employee. In case, he/she is creating nuance then they may be asked to stay at home for such period on paid basis.

• 5. Periodic paid leave policy: It is also one of the reason of employees leaving the organization within a year or two. Sometimes, they are indirectly harassed for taking their due leaves. This is a big red sign for any employer that they may not be able to retain employees in future. Hence, if they have paid leaves left, they should be encouraged to take them.

The above given are few ways in which employees turnover can be reduced. However, most importantly the organization should always pay them as per industry standards. If employer wants to check their ability, then they can be kept on probation period for 3 months, but thereafter once retained, they should be paid as per their skills, knowledge and experience.