In a survey the leading recruitment firm from the USA, Michael Page presented a very interesting scenario for Indian employers. Basis, on that survey about 82% of the employees said they will switch their jobs. While nearly 73% said that they have already given various interviews during the past 12 months.
It presents a peculiar scenario. On one hand, employees that the job market is booming so they can switch their jobs. While it is a piece of depressing news for the employers or manpower firms because they have planned for a long time with their good or star performers. Now imagine if more than 80% leave a company, it would be adversity.
It is usually discussed why employees will benefit if they stick to a particular organization for at least 10 years. Now to make that happen you need to provide something to your employees. Obviously, employees make a long term tenure with the organization, the employer will have to give them a good reason to stay. What could be those good reasons? Basically, it revolves around the principles of 5 R which is further elaborated by Mr. Atul Mahajan, Director, Trendsetters Facilities & Technical Services (TFTS) which is Delhi’s leading manpower outsourcing company shares tips for the employers to retain employees. Here they are.
Responsibility:
Being an employer or manpower firm show your employees that you trust them by allotting them responsibilities that allow them to advance. Encourage them to adopt new skills. Provide plenty of continuing education opportunities. Hire from within whenever possible, and give generous promotions at appropriate times.
Respect
Employees want to know that they are being appreciated and respected by their employers or manpower firms. As there is a saying, people may readily forget the things that you have said, but they will always remember the way you made them feel. Lots of workplace stories are built around the terrible things over-worked and stressed-out managers said or did. But if supervisors or managers make it a priority to show outward respect for employees on a consistent basis, it will make way to a strong and enduring workplace culture as well as positive experiences and memories that the employees will not forget.
Rewards:
The rewards you give to your employees should connect to their emotional needs and must lead beyond their monetary compensation. Recognition in front of the organization big shots, organization, and department parties, service projects, meals with the boss, handwritten notes or appreciation emails etc. can all contribute immensely to the positive culture of the company and can be good morale builders as well.
Revenue Sharing
Employers can link a portion of their employees’ wages to the organization’s performance. This will align their interests with the organization’s revenue and profit goals and will serve as an inherent incentive to stay with the company as it advances. By making the fixed cost of payroll inherently more changeable under differing business conditions, you can make your company more resilient and agile, while also treating your employees in a great manner.
Rejuvenation:
Employers need to be generous with time off. In spite of the hard economy, provide sufficient time for sick days, vacations or paternal/maternal leaves, etc. Pacing workflow can be highly instrumental in enduring employee relationships. You can expect and even ask for high-quality performance, but it is unwarranted to expect a consistent level of pressure at 100% all the time. Allow your employees the chance to rejuvenate themselves from switching one project to the next with the assistance of team-building activities or mini-break periods over the duration of the work.
