REVERSE EMPLOYEE ATTRITION
Retaining the best employees is an on-going challenge in most companies. Employee attrition is an area where the Human Resource (HR) department is challenged to find ways to keep trained and enthusiastic professionals on the payroll. Changes in the economy are usually linked to downsizing and layoffs and some organisations make investments in helping these people transition. On the other hand, finding ways to reduce employee attrition is not as readily available. In fact, it often requires an overhaul of the organisational culture.
An employee who is actively engaged in the organisational culture feels a social connection to other employees. One is committed to helping the organisation move forward by providing excellent customer service, finding ways to increase profits and promoting the brand image in-house as well as to family and friends outside of the organisation.
When people aren’t moved by the company vision, it’s easy for them to become disenchanted with department goals. So, the first challenge is to make sure people are in sync with the company’s vision for the present and future.
A low attrition rate (ideally about five to six per cent) is achievable. Studies reveal that the softer aspects of human resources such as personal growth and working towards a common goal are key drivers to keeping employees incentivised and better engaged within the organisational framework. Salary and benefits are secondary with the younger gen eration of employees. With the correct strategies in place, an organisation can not only retain its existing employees for the long haul, but also attract good talent to augment its human capital.
According to the 2011 Mercer ‘What's Working’ survey, 54 per cent of Indian employees considered leaving their current jobs, while 66 per cent of the employee base younger than 24 years of age wanted to quit even though they were happy with their organisation. These numbers indicate an increasingly choosy class of job-seekers who are on the lookout for challenging career options offering a broader opportunity for personal and professional growth.
So what can the HR team do to retain a vibrant taskforce motivated by successful accomplishments, as well as individual and organisational development? > Define a clear growth path. Employees look for clear visibility on their growth path within the organisational structure. Monetary compensation is one thing; role en hancement and diversification provide the necessary boost to employee morale and performance. Managers need to train and counsel subordinates to move towards pre-defined growth paths.
> Nurture them with incentives and non-work motivators. Employees spend a large part of their time at the workplace; it is only right for them to expect a more creative, fun-filled, and relaxed work environment.
> Don’t hesitate to invest in training. An organisation can benefit only if its employees are equipped with the necessary workplace skills and knowledge. Training and development work hand-in-glove to create a more educated workforce. Training should be at the top of the must-have list. > Give them a free hand. Google’s employee initiative ‘20 per cent time’ is a classic example of how to nurture a productive workforce. Google employees spend 80 per cent of their time doing what they were hired for. The other 20 per cent of the time they are allowed to work on whatever interests them – provided it benefits Google in some way. By enabling employees to spend work time productively, they get time to indulge in other creative pursuits; their productivity quotient naturally increases and the organisation benefits as a result.
> Create a perfect work-life balance. Stress can throw everything off. HR needs to look for ways that can help employees de-stress. Annual social gatherings, team lunches, success celebration parties, gyms, and yoga sessions are some ways to reduce stress.
Happy and challenged employees are also productive employees ready to stand by their company through good and bad times.
Aneesh Reddy co-founder and CEO, Capillary Technologies TAS 131120
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