I would highlight two genres of organization who believe that employees can be retained in two ways:
1.Give them challenging roles. Understand their interest and give an opportunity to prove themselves.
2.Engross them in other activities. Conduct Fashion shows, sports tournaments organize frequent events.
The question is which one interests more to the generation now? Most of the companies have a high attrition rate. Some of the organization has a bench rate of 52%. Are the employees more concerned about the fun part of the Corporate or the work of Corporate or the employers are failing to understand the needs to their employees. The organizations have become more like a product which packages itself well so that some priced customers’ takes it but the reality peeps out soon. The thinking quotient has surely changed. Now, a person believes in working in a firm, which can give him more independence in terms of decision making and challenging roles. A career-focused individual is certainly broadening his vision to work for a small firm rather than working for an MNC and get lost in the crowd. The most important thing to understand is an organization can hook its employees in the corporate events for some time but in the long run the feeling of being in a monotonous job creeps. The organizations should come out from the long followed policy and take a drastic step to change it. The change is to make the employees feel home in the office where the employee should have the rights to take decisions upto a certain limit and given challenging job role. There can be ways through which this can be achieved.
1.Remember, hiring new employees cost more than retaining old one. So, make sure, job rotation is followed as a policy and every employee should be given a chance to change his/her profile within a year if not interested.
2.Make the maximum use of Benchees. Rather than looking outside, the benchees can be asked to jump on the roles depending on their interest whenever certain employee needs a change which can best be termed as Replacement.
3.Not to forget, Marketing is not ahead of Performance. If marketing is good but the product fails to deliver then nothing can save the product from dieing. Its necessary to organize the corporate events but it should not be regular thing. The employees get diverted more towards to it rather than his job. Employee interaction should be frequent with the HRs. Workshops is certainly helpful in a month where the Manager along with the employees and HRs can discuss on how to make the best use of the employees.
Subscribe to:
Post Comments (Atom)
3 comments:
Ashutosh,
What about the reources, who leave the organization for increase in pay package? How much percentage do these poeplecontribute in the attirition faced by the organization?
Secondly, providing challenging job is ok, but what about the associated risks? How well can we apply this at higher level or roles?
Thanks,
-Sandeep
Hi Sandeep,Nice to meet you.According to Mc Kinsey Study, one major reason for leaving the organization is because of the organisation’s failure to bring about a correlation between pay and performance. Human Resource experts in the industry believe matching the right blend of talent with the right job profile can lead to superior performance.Retaining right kind of employees is important.For the employees who are talented, money alone has little retention value. They always looks for a value addition to themselves.In most of the organization, management pyramid narrows down on the top.The employees should get a clear picture of where they stand in the years to come.Adoption of strategies like Variable Pay Approach,Performance Oriented Cultures surely helps.There is a huge gap in the understanding of employees by the organization.It fails to identify what the employees really want.Because if the organization do not give what its employees want, then its always a good bye to the organization. As truly said, the retention strateguies should be cultural, transformational and transactional.
As far as Risk is concerned, there is risk everywhere but the point is it should be measurable and should be viewed as an opportunity rather than a challenge. If an organization can think of appointing an MBA in a SE role then it can also think of giving a SE proper training before giving him the right kind of job.It can be well applied at higher levels and roles too.There organization should conduct frequent Knowledge workshops by Industry Experts for the Senior Employees. The idea is to create a pool of knowledge workers who can contribute to the growth of the organization. Internal Training is fine but a Seminar or Workshop is always helpful.Even,B-Schools like IIMs,ISB conducts workshops for Senior Executive where they are given challenging Case Studies and Role Plays where they actually think substantial.Apart from that, it should be a mandatory process every employee to learn atleast one area or undergo training one one tool pertaining to his interest. Its true that learning cannot be forced but there is always a luring way to do it. Associate Certifications,Gifts or some kind of Recognition at the completion of that course. If an organization can lure people for events like TT,Fashion Shows, Cricket, then it can also attract its employees to participate in these kind of Workshops and Training.The idea is to create and deliver a great employee value proposition is which in turn will retain good people.
Ashutosh
Nice points but I would suggest you to look at the Business Model of those organizations where Benchees are more. If you take a close look you will find that most of the numbers are from their GDCs and work on outsourcing or Offshoring. The key is to have more resources attached to a project and make them billable while actually less resource is required, may it be TCS, Cap Gemini or Infy. Another reason is to maintain backup for the risk associated with high attrition rate. I can provide you with exact figure but that would be beyond the scope.
Now the question is, if your Business Model says so, How to do justification with the employees?
Thanks,
Shobhit Shandilya
Post a Comment