How to retain good employee for company

1. How To Retain Good Employees
Thien Nguyen

2.  Some concepts concerning the
importance of employee retention
 The reasons employees leave
 How to retain good employees
and minimize the turnover

3. CONCEPTS
 People don't really work for companies;
they work for a boss. A good boss can keep
employees, make them happy and reduce the costs
associated with employee turnover
 The perception of equitable treatment is important
in employee retention
 Many surveys suggest that employees often leave a
company not because of dissatisfaction with the
company or work itself, but because of
poor relationships with a boss or unpleasant
interpersonal issues.

4. CONCEPTS
 Employees are one of a company's largest
expenses these days. The cost of replacing a bad
hire far exceeds the marginal additional cost of
hiring the best person in the first place
 Employee retention is critical to the long term health
and success of the business
 The best employees seek frequent opportunities
to learn and grow in their careers, knowledge and
skills. They never stop learning and crave new
challenges

5. CONCEPTS
 Almost everyone works for money. People
always want employers to pay them above market
rates
 When the employees recognize a good boss and a
real leader or the company is a place people want
to come to and work for, they will stay around.
Company culture can be a powerful recruitment
and retention tool
 Boss might want to pay his good employees a bit
more than the norm

6. CONCEPTS
 HR professionals were asked which programs or
policies they use currently to help retain
employees. The following three are the most
common programs employers are using to retain
good employees:
• 62 percent provide tuition reimbursement
• 60 percent offer competitive vacation and
holiday benefits
• 59 percent offer competitive salaries and
bonus.
• …

7. CONCEPTS
 Employees cited the following three top reasons
they would begin searching for a new job:
• 53 percent seek better compensation and
benefits
• 35 percent cited dissatisfaction with potential
career development
• 32 percent said they were ready for a new
experience
• …

8. The leave reasons
 Lack of :
• clarity about expectations
• feedback for performance
• challenge in work, with boredom of low workload
• support from their peers and managers when
have excessive workload
 The company is experiencing a downward spiral
 Company policies and procedures are not clear
and communicated well
 No training and development opportunities

9. The leave reasons
 Relationship with management team is damaged
 Insufficient recognition for the level of
contribution and effort provided
 Stopped having fun and enjoying their job
 Pay isn’t commensurate with performance.
Benefits package is not satisfactory
 Anxiety about the promotion, income and
retirement security
 Concerns about management’s ability to lead the
company forward successfully

10. Job Withdrawal Process
The Causes of Job Dissatisfaction
Personal • Negative affectivity
Dispositions • Core self-evaluations
• Role
• Role ambiguity
Tasks and Roles
• Role conflict
• Role overload
Supervisors and • Negative behavior by managers
Coworkers • Conflicts between employees
• Pay is an indicator of status in
the organization
Pay and Benefits
• Pay and benefits contribute to
self-worth

11. How to retain employees
and minimize the turnover
 Meet employees periodically to learn about their
talents, abilities and skills. Help them feel
welcomed, acknowledged and loyal
 Communicate goals, roles and responsibilities so
people know what is expected and feel like part of
the in-crowd
 Make the workplace fun
 Set goals for employees that can be achieved
 Provide an environment that people are comfortable
providing and receiving feedback

12. How to retain employees
and minimize the turnover
 No matter the circumstances, never, never, never
threaten an employee's job or income
 Provide appropriate rewards and recognition for
jobs done well
 Demonstrate support, listen and respect for
employees at all times, never ridicule or shame them
 Pay for what they deserve
 Enable employees to balance work and life. Allow
flexible working times and core business hours
 Hold exit interviews with departing employees to
retain remaining staff

13. How to retain employees
and minimize the turnover
 Provide employee with new challenges, cross
training, growth opportunities and career
progression. A career-oriented, valued employee
must experience growth opportunities within the
organization
 Involve employees in solving problems and making
decisions that affect their jobs and the overall
direction of the company whenever possible
 Offer performance feedback and praise good
efforts and results

14. How to retain employees
and minimize the turnover
 Recognize and link attractive pay to excellent
performance, celebrate success.
 Offer an attractive, competitive, benefits package
with components such as life insurance, vacation
and flexible working hours
 Nurture and celebrate organization traditions.
Celebrate good news such as new business wins
and other significant milestones
 Make promotion system is fair and that
employees know exactly what they need to do to get
ready for the next opportunity

15. Questions & Answers