Retention Strategy
Assignment Module 3:
Employment Skill –Planning, Recruitment & Selection
Question: What Strategies would you employ to reduce the high turnover rate in your department? Discuss Briefly.
High Staff turnover in an organization does not only create high turnover costs, it will also harm the organization’s reputation and can negatively impact productivity, customer satisfaction, reputation among job-seekers and, significantly, in the morale of the departing employee’s co-workers. Besides, informal networks are powerful resources for job seekers and friends to follow colleagues to other employers. There are possible future turnover of employees who are lured to other organizations by their friends who have departed.
Key employee retention is critical to the long term health and success of business. Managers readily agree that retaining best employees can ensure customer satisfaction, product sales, satisfied coworkers and reporting staff, effective succession planning and deeply imbedded organizational knowledge and learning.
Besides the basic retention methods such as attractive, competitive, benefits package with components such as life insurance, disability insurance and flexible hours, high employee’s turnover can be reduced in many other ways.
1. Hire the right candidate.
Select the right people in the first place through behavior-based testing and competency screening. The right person, in the right seat, on the right bus is the starting point. At the same time, don't neglect to hire people with the innate talent, ability, and smarts to work in almost any position even if the department doesn’t currently have the "best" match available. Hire the smartest people you can find to reduce employee turnover.
2. Provide internal security to existing employee.
Communicate goals, roles and responsibilities so people know what is expected and feel like part of the in-crowd. A satisfied employee knows clearly what is
Employment Skill –Planning, Recruitment & Selection
Question: What Strategies would you employ to reduce the high turnover rate in your department? Discuss Briefly.
High Staff turnover in an organization does not only create high turnover costs, it will also harm the organization’s reputation and can negatively impact productivity, customer satisfaction, reputation among job-seekers and, significantly, in the morale of the departing employee’s co-workers. Besides, informal networks are powerful resources for job seekers and friends to follow colleagues to other employers. There are possible future turnover of employees who are lured to other organizations by their friends who have departed.
Key employee retention is critical to the long term health and success of business. Managers readily agree that retaining best employees can ensure customer satisfaction, product sales, satisfied coworkers and reporting staff, effective succession planning and deeply imbedded organizational knowledge and learning.
Besides the basic retention methods such as attractive, competitive, benefits package with components such as life insurance, disability insurance and flexible hours, high employee’s turnover can be reduced in many other ways.
1. Hire the right candidate.
Select the right people in the first place through behavior-based testing and competency screening. The right person, in the right seat, on the right bus is the starting point. At the same time, don't neglect to hire people with the innate talent, ability, and smarts to work in almost any position even if the department doesn’t currently have the "best" match available. Hire the smartest people you can find to reduce employee turnover.
2. Provide internal security to existing employee.
Communicate goals, roles and responsibilities so people know what is expected and feel like part of the in-crowd. A satisfied employee knows clearly what is