In: Economics
can You please write the paragraph bellow in your own words and with academic and easy words
Methodology for employee retention can be broadly divided in following steps-
1 Identifying the critical & early warning signals of talents before exit - Purpose to ensure the critical positions which have direct impact on client or output are being identified. As well evaluation done by supervisor or manager to capture early warning signals.
2. Quantify the risk associated with the exit of particular person, & assess what is objective (motivation), weakness & strength of particular individual
3.Basis particular case profile, suggest suitable actions for instance- Female employees not comfortable in night shift due to no travel provided by company and locality is not safe for females employees in night. On discussion with female employees, it was suggested either to provide company sponsored cab services for pick up or drop.
4. Take actions on agreed points - discuss with relevant authorities about case, and advantages of retention of particular employee. As well potential assessment, how it would positively motivate other employees as well
5. Evaluate on strategic basis whether what are changes can be done which will make employees to associate with organization, making their job more enjoyable and provides their comprehensive development on functional as well personal basis
The methods of retaining the employees can be divided into following steps:
1.
The managers should weigh the pros and cons of the exit of the employee. The management of the company should find out the position of the company in case the employee leaves, how it going to affect the company. An evaluation should be done by the manager to evaluate that if any employee leaves what will be the warning signals for the company.
2.
The company and its management should look into the reasons for a particular person’s exit. The company should calculate the risks associated with the person’s exit in numbers and do a SWOT analysis for the particular person.
3.
The company should do person to person analysis. It should suggest suitable actions that can be taken in that case. For example: where the female employees are not comfortable with the night shift, this is because the company does not provide a safe pick and drop facility for them.
4.
The management should discuss the situation of person’s exit with higher officials, as to access the advantages and disadvantages of retaining the employee. They should also access the ways to motivate the other employees.
5.
The management should work out on various ways which would help the companies to make the organization more comfortable, enjoyable and provide a base for their overall development in professional as well as personal life.