Employee Retention - Ways and Reasons for Employees to Leave Organizations
#Employee, #Retention, #Ways, #Reasons, #Leave, #Organizations #Learning, #Development
#Cultural #Celebrations #Organisations #Importance Work-Life, #Balance #Myth, #Reality
Employee Retention: Ways and Reasons for employees to leave organizations
Employee retention is the policies, practice, facilities, and opportunities which are provided by the organization to retain the employees for a longer period of time. Retention of employees is very crucial as they are the backbone and valuable asset for every organization in every industrial sector. They are the medium to reach the top of the destination for achieving all organizational goals and objectives.
However, recruiting and keep talents has become a major issue for all organizations in this competitive age. To retain the employee has become a very significant topic in the organization for many reasons. First of all, to recruit and provide training the new employee is time consuming and costly rather than retaining the old employee; Secondly, it is examined that employees who are staying long periods of time in the organization have a soft corner for the organization. They always want success for the organization. Moreover, they have better knowledge about the products, policies, rules, and regulations, culture, goals, and objectives of the organization and these help them to solve the problems and to educate the newcomers. Besides, the organization wants to keep the employee to protect business privacy. When an employee resigns the job, join the other company can talk about the previous company’s confidential data to the competitor company. Finally, high employee turnover is related to the goodwill, productivity, and profitability of the organization.
There are many reasonable factors that may be the cause for the employee to leave the organization. The major and common reason is the lower salary structure (overtime, bonuses) and compensation packages of the employee compare to Competitor Company. Even, no overtime salary is given to the employee. It is given only to the laborer. Another reason is the working environment. Employees are quite satisfied with the opportunities of recognition of reward, training, and development, a clean and safe working environment that also influence the employee to search a new job. Employees are more dissatisfied with a long period of working hours and less weekend, as well as huge pressure here to perform their daily tasks.
To retain employees, management of the organization should take possible measures. Organizations should offer better salaries and good compensation packages to the employee to retain them. Ensuring a good working environment as well as a flexible working schedule, secure their loyalty and trust. Besides, the company should spend effort, time, and money to train its employees so that employees have less probability to change their job in the future.
In this competitive era, retaining employees is a very difficult task for the organization. So every organization is very concerned about this matter. Every organization comes up with very unique strategies to retain their valuable assets for a longer period of time. But problems are not stopping at all. The first and most common factor is the salary structure of an organization. It is the main criteria to do the job. Another most important factor is the working environment of the company. It plays a very crucial role to retain employees for a longer period of time. Work life balance, reward and recognition system, career, personal growth, and learning opportunities are the other factors of employee retention. Management needs to ensure a good working environment, handsome salary, standard overtime payment, attractive bonuses, compensation packages, various training programs, recognition, and reward for unique and excellent performance to motivate the employee. All these will be very effective to retain employees who are the backbone of a company.
Here are ten tips that will help you make sure your employees are around for many years:
1. Create the Right Culture
Finding employees who will feel a strong bond with your company starts with creating an environment that attracts those employees. Your company culture should match the type of employee you want to employ, whether you opt for a by-the-book, strict workplace, or a more casual, laid-back atmosphere.
2. Hire the Right Employees
As you're screening candidates, pay close attention to signs that you may have a job-hopper. While there's nothing wrong with someone switching jobs if it provides career advancement, look for someone who is interested in growing with your company rather than getting experience to take somewhere else.
3. Provide Guidance
Your employees should be fully aware of their job duties and how they're doing in performing them. You can accomplish this by first having a job plan in place and providing regular feedback on an employee's performance. If an employee feels confused about his role in your organization, he's more likely to feel disgruntled and begin searching for something else.
When good employees leave, productivity sinks, morale suffers and colleagues struggle with increased workloads. The best solution is to keep your workers happy so they don't leave. But before you can implement a plan to increase employee retention, you need to determine why valuable employees are leaving. Here are the most common reasons employees jump ships to new employers.
• Rude behavior: Studies have shown that everyday indignities have an adverse effect on productivity and result in good employees quitting. Rudeness, assigning blame, backbiting, playing favorites, and retaliations are among reasons that aggravate employee turnover. Feeling resentful and mistreated is not an enticement for a good work environment.
• Work-life imbalance: Increasing with economic pressures, organizations continue to demand that one person do the work of two or more people. This is especially true when an organization downsizes or restructures, resulting in longer hours and weekend work. Employees are forced to choose between personal life and work life. This does not sit well with the current, younger workforce, and this is compounded when both spouses or significant others work.
• The job did not meet expectations: It has become all too common for a job to significantly vary from the initial description and what was promised during the interviewing stage. When this happens it can lead to mistrust. The employee starts to think, “What else are they not being truthful about?” When trust is missing, there can be no real employee ownership.
• Employee misalignment: Organizations should never hire employees (internal or external) unless they are qualified for the job and in sync with the culture and goals of the organization. Managers should not try to force a fit when there is none. This is like trying to force a size-nine foot into a size-eight shoe. Neither management nor employee will be happy, and it usually ends badly.
• Feeling undervalued: Everyone wants to be recognized and rewarded for a job well done. It’s part of our nature. Recognition does not have to be monetary. The most effective recognition is sincere appreciation. Recognizing employees is not simply a nice thing to do but an effective way to communicate appreciation for the positive effort, while also reinforcing those actions and behaviors.
• Coaching and feedback are lacking: Effective managers know how to help employees improve their performance and consistently give coaching and feedback to all employees. Ineffective managers put off giving feedback to employees even though they instinctively know that giving and getting honest feedback is essential for growth and building successful teams and organizations.
• Decision-making ability is lacking: Far too many managers micromanage to the level of minutia. Micromanagers appear insecure regarding their employees’ ability to perform their jobs without the manager directing every move. Organizations need employees to have ownership and be empowered! Empowered employees have the freedom to make suggestions and decisions. Today “empowerment” seems to be a catch-all term for many ideas about employee authority and responsibility. However, as a broad definition, it means an organization gives employees the latitude to do their jobs by placing trust in them. Employees, in turn, accept that responsibility and embrace that trust with enthusiasm and pride of ownership.
• People skills are inadequate: Many managers were promoted because they did their jobs very well and got results. However, that doesn’t mean they know how to lead. Leaders aren’t born—they are made. People skills can be learned and developed, but it really helps if a manager has a natural ability to get along with people and motivate them. Managers should lead by example, reward by deed.
• Organizational instability: Management’s constant reorganization, changing direction, and shuffling people around disconnects employees from the organization’s purpose. Employees don’t know what’s going on, what the priorities are, or what they should be doing. This causes frustration leading to confusion and inefficiencies.
• Raises and promotions were frozen: Over the years, studies have shown that money isn’t usually the primary reason people leave an organization, but it does rank high when an employee can find a job earning 20 to 25 percent more elsewhere. Raises and promotions are often frozen for economic reasons but are slow to be resumed after the crisis has passed. Organizations may not have a goal to offer the best compensation in their area, but if they don’t, they better pay competitive wages and benefits while making their employees feel valued! This is a critical combination.
• Faith and confidence shaken: When employees are asked to do more and more, they see less evidence that they will ultimately share in the fruits of their labor. When revenues and profits increase along with workload, organizations should take another look at their overall compensation packages. Employees know when a company is doing well, and they expect to be considered as critical enablers of that success. Organizations need to stop talking about employees being their most important asset while treating them as consumables or something less than valuable. If an organization wants empowered employees putting out quality products at a pace that meets customer demand, they need to demonstrate appreciation through actions.
• Growth opportunities are not available: A lot of good talent can be lost if the employees feel trapped in dead-end positions. Often talented individuals are forced to job-hop from one company to another in order to grow in status and compensation. The most successful organizations find ways to help employees develop new skills and responsibilities in their current positions and position them for future advancement within the enterprise. Employees who can see a potential for growth and comparable compensation are more inclined to stay with an organization
Conclusion:
Human capital is the impetus to run any organization. There is other capital but no human capital, to run the organization is impossible. There is a proverb that the asset which can make and break an organization is the employee. Retaining this valuable asset help the company in many ways. It will help the company to grow, enhance efficiency, effectiveness, popularity, productivity as well as profitability. But to retain and satisfy this resource is very challenging for the company. Many researchers come up with many unique strategies to retain employees for a longer period of time but the problem is not stopping at all. To enhance the level of employee retention for a long time, HR professionals of the company should take into consideration the very crucial independent variables such as salary structure (handsome salary, standard overtime salary, compensation practices), alternative working hours, flexible timing, healthy working conditions, training facility, and reward and recognition planning.
Khushbu Rani
HR Manager
AirCrews Aviation Pvt Ltd
www.AircrewsAviation.com
khushburani.aircrews@gmail.com
https://khushburani.vcardinfo.com
https://www.linkedin.com/in/khushbu-rani-826333192
https://www.instagram.com/s/aGlnaGxpZ2h0OjE3ODcwNDcxNjUwNjIwMjk2?igshid=1icouqj48qzht
https://www.facebook.com/khushbu.rani.311
https://www.portrait-business-woman.com/2020/07/khushbu-rani.html
Employee Retention - Ways and Reasons for Employees to Leave Organizations
https://aerosoftin.blogspot.com/2020/09/employee-retention-ways-and-reasons-for.html
@Khushbu Rani HR Manager AirCrews Aviation Pvt Ltd
Employee Retention - Ways and Reasons for Employees to Leave Organizations
#Employee, #Retention, #Ways, #Reasons, #Leave, #Organizations
#Learning, #Development
#Cultural #Celebrations #Organisations #Importance Work-Life, #Balance #Myth, #Reality
#Employee, #Retention, #Ways, #Reasons, #Leave, #Organizations #Learning, #Development
#Cultural #Celebrations #Organisations #Importance Work-Life, #Balance #Myth, #Reality
Employee Retention: Ways and Reasons for employees to leave organizations
Employee retention is the policies, practice, facilities, and opportunities which are provided by the organization to retain the employees for a longer period of time. Retention of employees is very crucial as they are the backbone and valuable asset for every organization in every industrial sector. They are the medium to reach the top of the destination for achieving all organizational goals and objectives.
However, recruiting and keep talents has become a major issue for all organizations in this competitive age. To retain the employee has become a very significant topic in the organization for many reasons. First of all, to recruit and provide training the new employee is time consuming and costly rather than retaining the old employee; Secondly, it is examined that employees who are staying long periods of time in the organization have a soft corner for the organization. They always want success for the organization. Moreover, they have better knowledge about the products, policies, rules, and regulations, culture, goals, and objectives of the organization and these help them to solve the problems and to educate the newcomers. Besides, the organization wants to keep the employee to protect business privacy. When an employee resigns the job, join the other company can talk about the previous company’s confidential data to the competitor company. Finally, high employee turnover is related to the goodwill, productivity, and profitability of the organization.
There are many reasonable factors that may be the cause for the employee to leave the organization. The major and common reason is the lower salary structure (overtime, bonuses) and compensation packages of the employee compare to Competitor Company. Even, no overtime salary is given to the employee. It is given only to the laborer. Another reason is the working environment. Employees are quite satisfied with the opportunities of recognition of reward, training, and development, a clean and safe working environment that also influence the employee to search a new job. Employees are more dissatisfied with a long period of working hours and less weekend, as well as huge pressure here to perform their daily tasks.
To retain employees, management of the organization should take possible measures. Organizations should offer better salaries and good compensation packages to the employee to retain them. Ensuring a good working environment as well as a flexible working schedule, secure their loyalty and trust. Besides, the company should spend effort, time, and money to train its employees so that employees have less probability to change their job in the future.
In this competitive era, retaining employees is a very difficult task for the organization. So every organization is very concerned about this matter. Every organization comes up with very unique strategies to retain their valuable assets for a longer period of time. But problems are not stopping at all. The first and most common factor is the salary structure of an organization. It is the main criteria to do the job. Another most important factor is the working environment of the company. It plays a very crucial role to retain employees for a longer period of time. Work life balance, reward and recognition system, career, personal growth, and learning opportunities are the other factors of employee retention. Management needs to ensure a good working environment, handsome salary, standard overtime payment, attractive bonuses, compensation packages, various training programs, recognition, and reward for unique and excellent performance to motivate the employee. All these will be very effective to retain employees who are the backbone of a company.
Here are ten tips that will help you make sure your employees are around for many years:
1. Create the Right Culture
Finding employees who will feel a strong bond with your company starts with creating an environment that attracts those employees. Your company culture should match the type of employee you want to employ, whether you opt for a by-the-book, strict workplace, or a more casual, laid-back atmosphere.
2. Hire the Right Employees
As you're screening candidates, pay close attention to signs that you may have a job-hopper. While there's nothing wrong with someone switching jobs if it provides career advancement, look for someone who is interested in growing with your company rather than getting experience to take somewhere else.
3. Provide Guidance
Your employees should be fully aware of their job duties and how they're doing in performing them. You can accomplish this by first having a job plan in place and providing regular feedback on an employee's performance. If an employee feels confused about his role in your organization, he's more likely to feel disgruntled and begin searching for something else.
When good employees leave, productivity sinks, morale suffers and colleagues struggle with increased workloads. The best solution is to keep your workers happy so they don't leave. But before you can implement a plan to increase employee retention, you need to determine why valuable employees are leaving. Here are the most common reasons employees jump ships to new employers.
• Rude behavior: Studies have shown that everyday indignities have an adverse effect on productivity and result in good employees quitting. Rudeness, assigning blame, backbiting, playing favorites, and retaliations are among reasons that aggravate employee turnover. Feeling resentful and mistreated is not an enticement for a good work environment.
• Work-life imbalance: Increasing with economic pressures, organizations continue to demand that one person do the work of two or more people. This is especially true when an organization downsizes or restructures, resulting in longer hours and weekend work. Employees are forced to choose between personal life and work life. This does not sit well with the current, younger workforce, and this is compounded when both spouses or significant others work.
• The job did not meet expectations: It has become all too common for a job to significantly vary from the initial description and what was promised during the interviewing stage. When this happens it can lead to mistrust. The employee starts to think, “What else are they not being truthful about?” When trust is missing, there can be no real employee ownership.
• Employee misalignment: Organizations should never hire employees (internal or external) unless they are qualified for the job and in sync with the culture and goals of the organization. Managers should not try to force a fit when there is none. This is like trying to force a size-nine foot into a size-eight shoe. Neither management nor employee will be happy, and it usually ends badly.
• Feeling undervalued: Everyone wants to be recognized and rewarded for a job well done. It’s part of our nature. Recognition does not have to be monetary. The most effective recognition is sincere appreciation. Recognizing employees is not simply a nice thing to do but an effective way to communicate appreciation for the positive effort, while also reinforcing those actions and behaviors.
• Coaching and feedback are lacking: Effective managers know how to help employees improve their performance and consistently give coaching and feedback to all employees. Ineffective managers put off giving feedback to employees even though they instinctively know that giving and getting honest feedback is essential for growth and building successful teams and organizations.
• Decision-making ability is lacking: Far too many managers micromanage to the level of minutia. Micromanagers appear insecure regarding their employees’ ability to perform their jobs without the manager directing every move. Organizations need employees to have ownership and be empowered! Empowered employees have the freedom to make suggestions and decisions. Today “empowerment” seems to be a catch-all term for many ideas about employee authority and responsibility. However, as a broad definition, it means an organization gives employees the latitude to do their jobs by placing trust in them. Employees, in turn, accept that responsibility and embrace that trust with enthusiasm and pride of ownership.
• People skills are inadequate: Many managers were promoted because they did their jobs very well and got results. However, that doesn’t mean they know how to lead. Leaders aren’t born—they are made. People skills can be learned and developed, but it really helps if a manager has a natural ability to get along with people and motivate them. Managers should lead by example, reward by deed.
• Organizational instability: Management’s constant reorganization, changing direction, and shuffling people around disconnects employees from the organization’s purpose. Employees don’t know what’s going on, what the priorities are, or what they should be doing. This causes frustration leading to confusion and inefficiencies.
• Raises and promotions were frozen: Over the years, studies have shown that money isn’t usually the primary reason people leave an organization, but it does rank high when an employee can find a job earning 20 to 25 percent more elsewhere. Raises and promotions are often frozen for economic reasons but are slow to be resumed after the crisis has passed. Organizations may not have a goal to offer the best compensation in their area, but if they don’t, they better pay competitive wages and benefits while making their employees feel valued! This is a critical combination.
• Faith and confidence shaken: When employees are asked to do more and more, they see less evidence that they will ultimately share in the fruits of their labor. When revenues and profits increase along with workload, organizations should take another look at their overall compensation packages. Employees know when a company is doing well, and they expect to be considered as critical enablers of that success. Organizations need to stop talking about employees being their most important asset while treating them as consumables or something less than valuable. If an organization wants empowered employees putting out quality products at a pace that meets customer demand, they need to demonstrate appreciation through actions.
• Growth opportunities are not available: A lot of good talent can be lost if the employees feel trapped in dead-end positions. Often talented individuals are forced to job-hop from one company to another in order to grow in status and compensation. The most successful organizations find ways to help employees develop new skills and responsibilities in their current positions and position them for future advancement within the enterprise. Employees who can see a potential for growth and comparable compensation are more inclined to stay with an organization
Conclusion:
Human capital is the impetus to run any organization. There is other capital but no human capital, to run the organization is impossible. There is a proverb that the asset which can make and break an organization is the employee. Retaining this valuable asset help the company in many ways. It will help the company to grow, enhance efficiency, effectiveness, popularity, productivity as well as profitability. But to retain and satisfy this resource is very challenging for the company. Many researchers come up with many unique strategies to retain employees for a longer period of time but the problem is not stopping at all. To enhance the level of employee retention for a long time, HR professionals of the company should take into consideration the very crucial independent variables such as salary structure (handsome salary, standard overtime salary, compensation practices), alternative working hours, flexible timing, healthy working conditions, training facility, and reward and recognition planning.
Khushbu Rani
HR Manager
AirCrews Aviation Pvt Ltd
www.AircrewsAviation.com
khushburani.aircrews@gmail.com
https://khushburani.vcardinfo.com
https://www.linkedin.com/in/khushbu-rani-826333192
https://www.instagram.com/s/aGlnaGxpZ2h0OjE3ODcwNDcxNjUwNjIwMjk2?igshid=1icouqj48qzht
https://www.facebook.com/khushbu.rani.311
https://www.portrait-business-woman.com/2020/07/khushbu-rani.html
Employee Retention - Ways and Reasons for Employees to Leave Organizations
https://aerosoftin.blogspot.com/2020/09/employee-retention-ways-and-reasons-for.html
@Khushbu Rani HR Manager AirCrews Aviation Pvt Ltd
Employee Retention - Ways and Reasons for Employees to Leave Organizations
#Employee, #Retention, #Ways, #Reasons, #Leave, #Organizations
#Learning, #Development
#Cultural #Celebrations #Organisations #Importance Work-Life, #Balance #Myth, #Reality
