good practices of retention strategies

Good Practices of Retention Strategies to Keep Employees

VOLUTIONIZING RECRUITMENT AND RETENTION 2015 CapSquare, Prince Hotel & Residence March 24 & 25

Contents

Good Practices of Retention Strategies to Keep Employees

7 hidden reasons why employees leave their organizations

Good practices of retention strategies local and foreign companies with real life examples

Employee of Choice model to enhance retention

What are good retention strategies to keep employees?

BACKGROUND

Employee Retention

Leigh Branham

Saratoga Institute of Research

Background

• Saragato Institute is part of PwC. World leader in exit interview and employee commitment survey

• Saragato Institute maintained a 5 years of database of 19700 of exit and employee surveys from 1999-2003

• Exit interview of 3149 employees

• Wide range of industries

Guessing

Reasons Percentage

REASONS OF LEAVING

65 Reasons

Why Employees Are Leaving?

Reasons Percentage

Too few growth and advancement opportunities

16

Lack of support by and respect from supervisor 13

Compensation 12

Job Duties Boring and unchallenging 11

Lack of leadership skills by supervisor 9

Work Hours 6

Unavoidable reasons 5

PEOPLE DO NOT LEAVE COMPANIES, THEY LEAVE BAD BOSSES

Reasons Percentage

Too few growth and advancement opportunities

16

Lack of support by and respect from supervisor 13

Compensation 12

Job Duties Boring and unchallenging 11

Lack of leadership skills by supervisor 9

Work Hours 6

Unavoidable reasons 5

Energy to Develop Leadership Development

GOOD PRACTICES

Good Practices

To Match Expectations with Reality

Select the Right Talent for the Job

To Provide Coaching and Feedback

To Provide Career Advancement and Growth Opportunities

To Make Employees Feel Valued and Recognized

To Reduce Stress from Work-Life Imbalance and Overwork

To Inspire and Confidence in Senior Leaders

Retention Good Practices

To Provide Career Advancement and Growth OpportunitiesCareer Development Weekly Department Meeting1 On 1

To Make Employees Feel Valued and RecognizedMotivation VoucherCorporate StrategyAnnual Employee Survey Job Title Changes

To Reduce Stress from Work-Life Imbalance and OverworkPfizer – FCW

PAYPAL GLOBAL OPS

PULSE FINDING

Career Development

Job Title

BUSINESS CONTEXTSETTING THE

SCENE

TEAM COACHING 1 HOUR

New Job Titles -Talent Retention

Shanghai

Carsem

• Festive

• Team Bonding

• Communicate Strategies regularly

• Gemba Walk

• Leader-teach-leaders

• Team Building

• Supervisor Development

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RETENTION APPROACHES

Four Fundamental Human Needs

● The need for trust.

● The need to have hope.

• The need to feel a sense of worth

● The need to feel competent.

To Match Expectations with Reality

Select the Right Talent for the Job

To Provide Coaching and Feedback

To Provide Career Advancement and Growth Opportunities

To Make Employees Feel Valued and Recognized

To Reduce Stress from Work-Life Imbalance and Overwork

To Inspire and Confidence in Senior Leaders

EMPLOYEE OF CHOICE STRATEGIES

Employee of Choice

IMPACTS

ONE LAST THING

Corporate Culture

•

Four Corporate Culture

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