The Golden Rule In Employee Retention

Tuesday, 08 May 2012 11:04 Written by
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Employee retention via effective performance appraisal management.Every organization typically wants to retain its employees for as long as possible. However, employees stay with the employers who pay well and treat them fairly. There is only one sure-fire way and one golden rule to accomplish this and here are a couple of pointers:

1. Treat Your Employees As You Treat Yourself

This is the fundamental principle that you have to bear in mind in retaining your top talent and the rest is just supporting factors. You can do justice to your employees if you really know how to manage properly.

Managing people is also not rocket science, in these days of inequality, it's best to treat your employees as you'd like to be treated. See things in their shoes – they won't like to be treated as expensive entry level personnel or secretaries if that's not what they're hired to do.

2. Maintain A Proper Performance Appraisal Management System

Employees need to be appreciated. Realizing that management values their work is the most important thing leaders can do. They would be more likely to continue working for that employer. Based on the accomplishments of employees' job responsibilities they should be getting a consistent pay increase. Appropriate rewards of course increase productivity and innovation. If you're increasing their salaries or if their pay-for-performance is just a couple of dollars, it's not worth it and it can back fire. So think of a concrete system and implement it. May sure you keep track of their performance and that your managers know how to manage it.

3.Employee Engagement

Reviewing and monitoring their employees, managers can easily recognize when the employees feel connected to their work and when they lose interest? Accordingly, they can make them engaged. An engaged employee will be enthusiastic about his work. As a result, productivity will be high and therefore you can maximize ROTI (Return on Talent Investment). Either rotating job responsibilities or having cross functional teams or getting a personal career growth system in place will make them engaged and afresh. You can also ask them what they need and what they want. They'll even be more engaged if they have a say in the matter.

4. Effective Training Management System

If you want to keep your employees up to date in their skills you have to create an effective training program for employees and also development opportunities such as tuition reimbursement programs for college courses, onsite training classes and personal skills development sessions. Otherwise, there is a chance to leave the jobs because of limited employment opportunities.

I know that you have more to add into this list. Leave us a comment below.

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