In many industries today the main issue of people switching jobs or searching a better job is because they are not satisfied with the current job or manager or the work culture. There are many reasons that causes issue in a workplace, they are
- Mismatch of job
- No proper training conducted at workplace before assigning the job
- No proper treatment from the leads and managers
- No proper deserving salary for the hard work put by the employee
- No proper HR policies
- No appropriate communication done with the employee or no feedbacks taken
- Employee not involved in the decision making for the tasks
- No rewards and recognition
The image below gives the stats of employee attrition in a company.
Pic credits: https://www.talentlyft.com
If the employee does not feel inclined with the organisation then the person is more likely to leave the job that does not value his hard work. One of the biggest concerns for an organisation now is to how they can retain their employees for a longer time. Employees are the main and the most important assets of the organization – customers come second.
Many multinational top companies like Google, Facebook, Amazon, Microsoft, TATA and all the others have one thing in common – they hire talent and they retain them. It therefore concludes that these organisations have some hard-core best practices and strategies in place to retain their best talent.
Now in this article I will be talking about the retention strategies that the company implements to overcome internal issues and stop attrition. Let’s go one by one.
- Hiring the right fit is important
Previously many multinational companies used to do bulk hiring and later realised that the employee is probably not the best fir for the organisation.
Now the process is changing and has been implemented by every other organisation. They want to know whether the candidate no matter how much skills and expertise they possess in them are the best fit for the organisation. This lets the employer understand the adaptability of the talent beforehand.
- Listen to your employees and take timely Feedback
Most of the time employees are dissatisfied where their opinions and suggestions are given least importance. It is very important to take timely feedback from the employees so that the company can figure out where they are lacking and what is bothering their people. Keeping it informal and anonymous can help the employees open up and give honest feedbacks. It also gives the employees a sense of security and openness that they are given equal importance in the company. The company on the other hand should be ready to take in criticism and act accordingly with an open mind.
- Employee appreciation and recognition goes a long way
Every employee works with one motto that they are recognised for the hardwork they do and be involved in the decision making tasks of the project. An annual appraisal based on employee assessment is most of the time not enough to keep them motivated. Everybody loves a pat on the back and be rewarded. There is a sense of accomplishment when your hard work to complete a task is recognised and appreciated by your manager. Sometimes even a small appreciation mail can keep them motivated. Many organisations have timely reward circulation within their company for various important role played by their employees to achieve the impossible. This keeps them so motivated that the next task will be done within the deadline with immense dedication.
- Have a Growth Plan For your Employees
If the company has a proper plan chalked out for their employees for a year the employees will also feel that they are valued by the organisations. Your employee will love to have a clear career graph charted out in front of her by their manager. If you have not done it already then it’s the right time to do it. Mentor them accordingly so that they do not feel alone and lost while trying to achieve the target set by you. With proper guidance and training the employees can reach to new heights and can be super satisfied with the job which will help in attrition rate to a large extent.
- Update/change Human Resource Policies
Having an employee centric policy that is dynamic and that adapts to the changing ways of the world is important for the organisation. More rigid the policies are more restricted and problematic the situations will become in the workplace. Keeping your HR policies updated at all times in accordance with the best practices is necessary for smooth functioning of the organisation. Click here to read how mintly helps in improvising this.
- Communicate with the employees
If you want to build a strong team that can accomplish any task with sheer accuracy and dedication, then proper communication is the only way to do it. The managers and leads should make sure that they communicate properly with their employees to make them understand the importance of the jobs assigned to them and their role in it. Allocating the work is just not enough but coordinating time to time in order to make sure they are not overburdened by loads of work will help manage the team. The employee will also feel that they are cared by their managers and will try to make them happy.
I hope this article has been useful for you to know how these internal issues can be solved to stop attrition in an organisation.