Presented by:Namrata singh

PGDM 2nd year

employees

Organization Emerging Retention Trends

What retention is all about??????? Traditional Retention Techniques:promotions Increment in salary

Cost reduction in Recruitment and training of new employees. Goodwill of company will increase Building up of loyalty amongst employees Feeling of job security in employees No need to bear the loss of professional knowledge

Organization culture-Interpersonal values Effective selection procedures Compensation benefits Job satisfaction Practices providing work life balance Training and opportunities for future growth

Career growth-In a hyper-growth environment, growth is the mantra for

business success. From an organization's perspective, career advancement is important for retention and also for attracting talented employees to the workplace

For the job-seeker, below are the thirteen top parameters against which they base their decision to work with a certain employer and to retain with them, as per Mercers Whats Working survey: \ 1) Career

advancement; 2) Base pay; 3) Training opportunities; 4) Type of work; 5) Working for a respectable organization;

6.)Bonus or other incentives; 7) Retirement savings plan; 8) Flexible work schedule; 9) Good medical insurance coverage; 10)Wellness programmes ; 11) Paid time-off; 12) Tuition reimbursement; 13) Longer term leave.

It is vital not only to fill the pockets of your employees, but also stimulate their minds, nurture their talent and create an environment they would hate to leave.

ESOPs are being increasingly used as a compensation tool by both, multinationals and Indian companies for reservoir of talent in the organization. A recent KPMG ESOP survey report titled Employee Stock Options/Equity Incentives-Industry Insights reveals that ESOPs are being increasingly used as a compensation tool.

ESOPs continue to be predominantly concentrated in the Information , Communication and Entertainment (ICE) sector and companies in the financial services and private equity sectors and the manufacturing and consumer goods sector arent lagging behind

Accenture India has a womens networking group called Vaahini, which supports networking on efforts and initiatives related to mentoring, communication and counseling Aviva Life Insurance has created a fun@work calendar for the employees wherein they organize several activities throughout the year

The management has to ensure that employees get what they want. Its not always about money. It has to be a good blend of fun and a stress-free work environment. CHD developers introduced HQTF (Happiness Quotient Task Force), which charts out a plan for employee bonding and encourages strong internal communication between them. The HQTF has an event calendar, which includes celebration of various festivals, employee birthdays, sports day, health camps and CSR events

With the advent of contemporary technology, a lot of working professionals are now opting to work from third places such as business centers , clubs, libraries and even coffee shops Sameer Wadhawan, VPHR, Coca-Cola India expresses, We follow this model since a lot of our discussions and execution are done at the franchise premise. While this is convenient, it also perks up productivity and works in favour of the right balance between work and life beyond work. Pay pal the buses that employees use for transport are WiFi-enabled in order to catch up on their work as they commute

When employees dont trust leadership, organizations pay the price in the form of low engagement, high turnover, and lost creativity and innovation. little reasons for which your people might not trust you? Here are five common ones: 1. You withhold trust in others; 2. You ask much, yet fail to acknowledge effort; 3. You behave badly; 4. You dont admit your mistakes; 5.You spin the truth; Finally, a common mistake leaders make is to assume that their position alone makes them worthy of others trust

The authors, Dennis Reina, PhD and Michelle Reina, PhD are co-founders of the Reina Trust Building Institute, which specializes in promoting workplace trust spoke on this in Worlds HRD congress 2012 in mumbai.

Dennis and Michelle Reina

Flexible working is taking on the important role of talent retention, thus providing businesses with a valuable way of rewarding and attracting resources. Employees feel more energized and motivated, thanks to flexible working

e.g-HSBC India have introduce the Flexible Work Arrangements (FWA) program in 2008. Since the programs inception, an estimated 10 percent of HSBC Indias employees have used FWA, and the bank has succeeded in retaining approximately four percent of the employees who had resigned or expressed intention to resign by offering them the option to participate in the FWA program. Source-http://www.catalyst.org/publication/474/hsbcindiaflexible-work-arrangements

New-age demands such as social media access, device flexibility and have surfaced in the Indian business scenario as the millennial today , as per a recent survey conducted by Cisco , are prioritizing such social elasticity's over salary in accepting and retaining in a job. The advantage of permitting social media usages are myriad , says Ravi Shankar , senior VP -HR,HCL Technologies Says, Such networking liberties help employees in collaborating and creative ideation.

Companies that invest in training report improved recruiting, higher retention and better output E-Learning-Today, e-learning is gaining momentum as an effective employee training tool with boring classroom sessions making their way out. The scalability/standardization elearning offers is difficult to obtain from any other form of training Madhu Murty Ronanki, president, Talent Sprint says Our training process is standardized and we have made investments to train our trainers, both through classrooms as well as e-learning modules.