How to Retain an Employee??

This biggest question in every company, either it is MNC, Midsize companies or small size companies is the same RETENTION OF EMPLOYEES.

Primarily way to retain an employee is to give them respect and authority to take their decisions, Senior should stop Micromanaging as this is the main concern these days. They feel that if they give authority to someone else, their position would be deteriorated, and they will lose their importance in the eyes of the management.  But here we feel given employee a sense of some responsibility either it is a new project or managing a team it increases sense of belongingness in the employee that Yes, they mean something for the company.

Another point which triggers my mind regarding retention is growth, opportunity and paying them reasonable salaries according to the market Value.  Increments, why always manager notice all the flaws and all errors at work in the month of increment? This is a wrong practice, performance is on the agenda for increment but annual performance if employee who spends most of the time in the office to work hard and earn a living if they are not satisfied with the salaries WHY WOULD HE STAY?

Thirdly, according to the studies from The Society for Human resource Management flexible hours work options helps significantly in better employee retention. Reducing work hours and workdays can actually increase employee productivity, efficiency and Retention.

Fourthly, Employees who are rewarded and recognized by their employer are much easier to retain long term. There are many ways to reward an employee inform of monetary terms or social recognition. Also, as an employer they should make sure that not only they recognize and employee for results but also for the efforts. Sometimes, employee feel demotivated when some project is unsuccessful. In this case appreciating an employee for their hard work can do wonders.

Last but not the least we would not deny that in every office “OFFICE POLITICS” Prevails. It is responsibility of the management or senior employees to try and curb such kind of atmosphere as it effects mental and physical health of an employee. An employee spends most of his life at work they only go home for few hours in which he sleeps.

Employee always stay where he is at peace, and where he feels he has been respected and appreciated for the work he do.

“Start the retention process when person is still open to staying and not after they have already told you they are leaving”
Jeff Weiner