Use this presentation for how to improve retention
-
Upload
anirvansen -
Category
Lifestyle
-
view
610 -
download
2
description
Transcript of Use this presentation for how to improve retention
![Page 1: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/1.jpg)
![Page 2: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/2.jpg)
Retention Through Employee
Engagement
![Page 3: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/3.jpg)
Feeling “engaged” depends on the “strength” of the workplace not necessarily on the corporate leadership
- Buckingham & Coffman, ‘First Break all the Rules’
![Page 4: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/4.jpg)
The importance of feeling “ENGAGED”
Companies do not retain people
People decide to stay
They decide to stay when they feel “engaged”
“Engaged” employees stay longer
![Page 5: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/5.jpg)
THE STRENGTH OF THE WORKPLACE
CLEAR EXPECTATIONS
RESOURCES
OPPORTUNITY
RECOGNITION
CARE & CONCERN
Feeling “Engaged” depends on
DEVELOPMENT
PARTICIPATION
PURPOSE
QUALITY
APPRAISAL
LEARNING
If we provide all the above, then we have built a GREATER PLACE TO WORK. Most of the above are in the hands of THE BOSS.
![Page 6: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/6.jpg)
The BOSS The “Boss” is the key factor in building a strong work place.
Talent retention strategy will work if we have the “Boss” in right place.
“Boss” who “nurture” and “mentor”.
Creates nurturing environment for the employees to imagine, explore, pioneer, invent etc.
![Page 7: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/7.jpg)
Growth is a pre-requisite
Talent can be retained with business growth.
New businesses provide career opportunities.
Retaining talent and growing business are therefore interdependent.
“Growth” is therefore a pre-requisite.
![Page 8: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/8.jpg)
They want to be with us. why?
• 2/3 of the workforce have put up more than 10 years of service- Bondage
• Management by heart – Caring and sharing as one family
• Trust
• Cultural fit – MNC with ‘Indian Character’
• 140 divisions – ample learning and growth opportunities
• “Bosses without Bossism” - Mentors
• Age neutral - age diversity
• Empowerment – Climate for action
• Work life balance
![Page 9: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/9.jpg)
Creating an effective Reward Environment
1. Does the organisation’s reward and recognition policies and habits support the development of the desired culture?
2. Is their a balance between the formal and informal reward and recognition initiatives?
3. Is the working environment inspiring and does it make employees feel at home/special?
4. Is it a caring environment/culture and does the organisation carry the employee’s well-being at heart?
5. Is the management style promoting/facilitating development and growth?
6. Do people believe in the organisation and it’s leadership?7. Does the organisation have formal recognition/award plans in
place?
![Page 10: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/10.jpg)
Creating an effective Reward Environment
1. Recognition Plans:• Celebrate objective and/or goal achievement• Reinforce extraordinary performance, normally outside of job
expectations.• Recognise activities/ events/ milestones• Peer-to-peer, managerial recognition
2. Award Schemes:• Cash awards (Once off bonus payment, vouchers, car-hire, etc.)• Non-cash awards (Development programmes, overseas tours,
trophies, certificates, etc.)• Spot awards• Risk prevention awards
![Page 11: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/11.jpg)
Creating an effective Reward Environment
– Organisation taking care of personal needs (Dry cleaning, shopping, etc.)
– Grocery delivery service– Creche facilities– Hiring of Executive Cars for Employees (Ferrari’s, Porsche,
Chauffeur-driven, etc.)– Overseas tours– Health, golf, country club membership– Virtual offices– Secure working environment– Flexible working hours/output based performance contracts– Rewarding/involving spouses/family members
![Page 12: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/12.jpg)
Structuring of pay according to function value
Development of pay according to job fulfilment and role behaviour
Development of pay according to personal performance and business result
Performance /Result
Competencies
Positioning of pay structure in the market
• Product Market Competition• Labour Market Competition
Business strategy
Creating of pay structure according to business requirements
Variable pay
JOB GRADE
REM
UN
ERAT
ION
5 4 3 2 1
Reward Strategy
Function
Base pay
Employeefringe benefits
Market
What drives the Remuneration & Benefits Strategy?
![Page 13: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/13.jpg)
13
Why Retention MattersCosts: 1½ - 2 times salary & benefits
Staffing costs – costs to hireVacancy costs – lost productivityTraining costs – to prepare new employee“Acting” pay
Loss of knowledgeWork not done, priorities not metImpact on colleagues
![Page 14: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/14.jpg)
14
Obstacles to Retention• Competition for the tech savvy,
interpersonally skilled • Declining supply of library & information
science professionals • More choices for both degreed and non-
degreed personnel• Low compensation• Retirements • Freezes
![Page 15: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/15.jpg)
15
The Changed Employer-Employee Relationship
• The “contract” is broken• Life Long Employment vs.
Mutuality of Purpose• Free agents• Flexibility to meet diverse
needs• Work/life considerations
![Page 16: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/16.jpg)
16
Why Employees Stay
• A feeling of connection• Feeling valued• Personal and professional growth• Continuous learning• Making a difference• Good management• Can’t afford to leave• Fair pay and benefits
![Page 17: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/17.jpg)
17
Retention Begins with Orientation
![Page 18: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/18.jpg)
18
Orientation
Relationship begins before the hire Employees value a personal connection Accommodate different learning styles Make it interactive and fun Complete paperwork and procedural
“stuff” in advance
![Page 19: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/19.jpg)
19
Orientation Beyond the Workplace
Offer dual career assistanceInclude family in the equation, invite to
orientationMatch new employees with friends and
services, new neighbors, teenage babysitters, etc.
Help with relocation
![Page 20: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/20.jpg)
20
Assimilation
Provide a buddy/mentoring
Create & reward best practices Develop expectations for management
![Page 21: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/21.jpg)
21
Welcome!
Desk, computer, workspace ready on day one
Welcome card Balloons, food New employee party at work site Formal follow-up at 30, 60, 90, 120
days
![Page 22: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/22.jpg)
Keys to RetainingTop Talent
![Page 23: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/23.jpg)
23
Job Satisfaction & Retention
![Page 24: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/24.jpg)
24
1. Increase Opportunity
–Challenge–Interesting projects–Responsibility–Team leadership–Special assignments–Promotion
![Page 25: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/25.jpg)
25
Opportunities for Employee Development
• Internal recruitment• Support for education• Job rotation/cross training• Task forces, project assignments• Academies of learning• Career ladders• Mobility among libraries
![Page 26: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/26.jpg)
26
Cultivating Excellence
• Individual development plans• Coaching/mentoring• Performance management with real
feedback and coaching• 360 feedback• Accelerated advancement/steps• Co-manager opportunities • Shared staff opportunities
![Page 27: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/27.jpg)
27
2. Decrease Stress
Identify stressors Distribute work evenlyEliminate red tapeManage interruptionsPromote and model stress-reducing activities
![Page 28: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/28.jpg)
28
Work/Life Balance• Define work in terms of what
is to be accomplished• Provide flexible work schedules• Evaluate alternative work places and
telecommuting• Appreciate dilemma of child care, elder care,
multiple individual roles• “Allow” voluntary demotions• Appreciate diversity of personal values and
priorities
![Page 29: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/29.jpg)
29
3. Provide Leadership
–Build trust –Commit to helping others succeed–Offer motivation–Seek excellence –Take action
![Page 30: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/30.jpg)
30
4. Emphasize Work Standards
Focus on taking pride Link performance to customer
satisfactionDevelop customer service and
quality measures collaborativelyBe very clear on expectationsCelebrate achievements
![Page 31: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/31.jpg)
31
5. Provide Fair Rewards
• Employees want fair rewards for the work they do, based on:
–Skill –Responsibilities–Effort–Working conditions
–Communicate –Reward for top performance
![Page 32: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/32.jpg)
32
Convenience/Concierge Services
• Dry cleaner pick-up• Supermarket / Carry-out delivery • Financial planning • Passes, discounts – zoo, museum • Classes on-site – educational, fitness• Discount coupons – cleaning services,
manicures, lawn care• Wellness, health screening
![Page 33: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/33.jpg)
33
6. Allow Adequate Authority
• Empower employees to act
• Encourage employee input to decisions, goals, and direction setting
![Page 34: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/34.jpg)
34
Retaining Talented Workers as They Near Retirement
• Phased retirement• Re-hiring as part-timers or consultants• Temp work• Training/mentoring assignment • Sabbatical
![Page 35: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/35.jpg)
Recognizing Employees
“People will forget what you said. People will forget what you did. But people will never forget how you made them feel.”
Anonymous
![Page 36: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/36.jpg)
36
Recognition
• Enhances performance
• Helps motivate • Provides practical
feedback• Makes it easier to get
the work done• Improves productivity
![Page 37: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/37.jpg)
37
Recognition Updated
• Includes informal elements• Multiple programs & activities• Leader-oriented• Frequent & flexible• Culture of performance• Used for everyone
![Page 38: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/38.jpg)
38
Coworkers Recognize Colleagues
• Dedication• Achievement• Character• Service• “Can do”attitude
• Respect• Cooperation• Helpfulness• Flexibility
![Page 39: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/39.jpg)
39
Supervisors Recognize Staff
Handling an emergency or difficult situation
Filling in on another jobCompleting a special taskConsistently presenting a positive attitude
that inspiresGiving time & assistance to an area or staff
person outside dept. or responsibility
![Page 40: Use this presentation for how to improve retention](https://reader035.fdocuments.net/reader035/viewer/2022070301/54635319b4af9f491c8b49fc/html5/thumbnails/40.jpg)
40
More Formal Rewards
Customer Service AwardSpirit Award Service AwardsRetirements