Tuesday, 30 June 2015

EMPLOYEE RETENTION


Employee retention refers to the ability of an organisation to retain its employees. In the past people stayed on their jobs for 30-40 years, then retired and they were happy to do so.

In today’s generation, employees hardly want to stay that long, they prefer to be flexible so an employer who wants to retain members of staff in this age, also needs to be flexible.

In the past, the older generation were more contented with receiving a good salary, opportunities for promotion, long service awards etc.

It is totally different now. This present generation, have a lot more expectation and need to be understood to be well managed. This generation of employees also want competitive salary and benefits, but they want freedom to express themselves, some flexibility and are not motivated by mundane rules and regulations. They want to know they are making a contribution. If you want to retain them, you have to be aware of this and find ways to address them.

Therefore, what are some of the things you can do?

1.     Get the recruitment right from the start. Don’t only look at CV or paper work, Hire for Results nor Skills. Employers should hire slowly and fire quickly.

·        Ensure your recruitment and selection process is very stringent

·        Ask the right interview questions to enable you find out a lot about the applicant’s aspiration, values and so on.

·        Do assessments, checks etc. The bottom line is, ensure your recruitment process is thorough so you do your best to get the right person unto your organisation, who will be an asset as opposed to being a liability.

Recruitment errors can be very costly. Better still, contact experts like EZ37 Solutions Limited.

2.     Have a thorough on boarding process. This is the orientation that takes place when new employees join the company. You only have one chance to make a first impression.

·        Welcome new employees very nicely and introduce them to other members of staff.

·        Take time to let the new employees know that their role is important in the overall plan of the organisation.

·        Tell them what the plan is. Why the organisation exist.

·        Explain your procedures, policies and your expectation of them, their job description, their Key Performance Indicators etc.

Basically, within 2 weeks all the necessary documentations and forms should have been completed. Let there be clarity as it prevents confusion, conflict and some other negative occurrence, which can make new employees want to leave.

3.     Provide Meaningful and Creative Work

Allocate jobs based on people competence and passion or their commitment and not just based on paper qualification. For example, a pharmacist may be more interested in selling than working in a hospital. A messenger, with adequate skills training may be able to and prefer to work as a receptionist etc.

 

4.     Salary and Benefits: Try to pay competitive salaries, offer incentives and bonuses etc. With contributory pension scheme, NSITF and other employee welfare scheme. Companies that comply will be more able to retain their staff.

 

5.     Opportunity for Career Development, Job Enrichment, Job enlargement, job retention and lots more: Pay attention to lifelong learning. These go a long way in retaining employees. Some employers move staff around within the organisation, but there is tendency to get bored if one is doing the same thing year in, year out.

Conclusively, employers who desire to retain their employees, must find ways to engage them. High employee turnover is very detrimental to the efficient delivery products and services and the growth of the organisation. Employees should note that it is not just about what they have, rather what they do with what they have makes them more successful and valuable.

 

Adaora Ayoade

MD/CEO

EZ37 Solutions Limited



…consistently adding value




 
  

1 comment:

  1. Employee Retention refers to ability of organization to retain its employees. Creating effective employee retention strategy help your business to meet its goals.

    ReplyDelete