Perfect Employee Management to Reduce Attrition

Perfect Employee Management to Reduce Attrition

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Once a company employs somebody, it assumes that the compensation package is enough to keep the person motivated and provide his best. Problems arise when the business is faced with issues of low motivation, lack of responsibility, poor discipline, and eventually a high attrition rate. This is when business feels that they recruited a wrong person. They are again on the lookout for a new recruit, but this is not the solution to this problem. The root cause analysis will proclaim that effective employee management is the only solution here.

Invest in Employees

It is important to realize that employees are the backbone of any management. Just like resources are used to develop and sustain a product, similarly resources are required for effective employee management. Even though a person may join a business due to the compensation plan, he looks for something more. This something can be defined as a conducive working environment, motivation, safety at workplace and much more.

Motivation

Effective employee management involves recognizing these needs. They require constant motivation. This cannot come through compensation alone. They require appreciation and acknowledgement of the effort they are putting in.

In addition, they require direction. They need to know why they are doing what they are doing. Employees would like to become a part of the system. This means that they would like to be a part of the decision making process. Even if they cannot make the final decision, they would still like to give their inputs which must be considered no matter how trivial they are.

Once an employee feels that he/she is a part of the business machinery, he would feel involved. An employee needs to know how important he is for the business and how his work impacts business as a whole. Once this becomes clear, he would get the required motivation. He would feel responsible for the sustainability as well as enhancement of the business.

Safety at the Workplace

Any employee needs to feel safe at work. This includes physical as well as emotional safety. He needs to know that he can take calculated risk as he would be provided back support. This is a big morale booster for the employee. He would be able to think out-of-the-box.

In the end, all this leads to low attrition rates and better productivity. Businesses have to consider attrition costs along with the cost of hiring and training a new person in order to employ ample resources for employee management.

Your Action Plan:

1. Train your employees to hone their existing skills.

2. Give them further training for their self-development and to acquire new skills.

3. Have a rewarding program in place.4. Organize workshops for stress management, time management, team development and so on.

People are looking for good pay and a lot more. Make your business the company of choice. Make it employee friendly and a place where people wish to work. If you feel that this article helped you, share it with your friends on social media and let them enjoy the benefits too!

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