Employee Retention refers to the various steps involved to retain the outgoing employees. Hiring is a cumbersome process and it is really not easy to find an employee who is loyal towards the organization and looks forward towards achieving its targets. An organization must encourage the employees to stick to it for a good amount of time and contribute effectively in their respective areas.

Every individual strives hard to give his hundred percent to the organization and expects the same in return. An individual must feel attached to his workplace to enjoy his work and learn something new each day. The organization must promise opportunities for further growth to all the employees and each one should foresee a bright future there.

Every individual expects peace and healthy working conditions to deliver his level best. A shady background and poor financial condition of the organization are the major factors leading to unrest amongst the employees. No individual likes to work with an organization running into losses. A sick unit is unable to pay salaries on time making it difficult for the employees to work with it for a long time. An organization must be financially stable for the employees to feel safe and secure.

Rules and regulations are formulated for the benefit of the employees and thus should not be too rigid. An organization must have employee friendly policies for the individuals to stay motivated. The management must take into consideration the genuine problems of the employees to make the organization a better place to work. Leave policies and compensation structure should be designed in a manner to satisfy the needs of the employees.

• Monetary satisfaction is one of the major reasons as to why an employee sticks to an organization for a longer duration. Incentive plans, perks and other benefits should meet the expectations of the employees and should be directly proportional to the hard work put by the individuals. The high potential employees should be rewarded suitably to make them feel indispensable for the organization and to expect the same from them everytime.

• An organization must have a simple hierarchy and the functional areas of each team should be well defined. Complicated hierarchies lead to confusions and unnecessary disputes amongst team members. It is essential to maintain transparency at all levels. The team size should be restricted to 5 or 6 members for smooth flow of information and better output. Every team ideally should have a single leader willingly chosen by the team members to act as a strong support system for them. The superiors must be accessible to the team members in case of queries and must monitor the team’s performance from time to time. The team leader should act as a role model for his team.

• Freedom of expression is of utmost importance at the workplace to retain employees. Individuals should have the liberty to express their ideas and discuss issues on an open forum. This way employees do not crib among themselves and come closer to each other.

• The organization must encourage employees to celebrate major festivals at the office premises itself. Ask them to bring their families as well. Such activities go a long way in strengthening the bond among the individuals and retaining them.

• It is important for the organization to have stringent policies for non performing employees. Strict action must be taken against those who come to organization just for fun and are just not bothered about their own work. The performers must get an extra edge and should be entitled to exclusive benefits.

• An organization must offer a positive ambience to its employees to expect a consistent performance from them. The workplace should be free from all sorts of disputes, nasty politics, controversies and blame games which go a long way in demotivating an employee and prompting him to look for a change. Healthy competition is essential at the workplace to encourage the employees to perform up to the mark every time.