With quality talent in demand across companies and sectors, high attrition rates is a challenge. Brinda Dasgupta tells you how you can retain talent within your organisation.
1 Provide Mentoring
To create an environment where your employees are inspired to stay and do the best work of their careers, provide opportunities for mentoring. “Imparting skills and knowledge are crucial towards improving your employees’ abilities,“ says Mohit Lalvani, co-founder and CEO, LivQuik.
2 Engage and Stimulate
Disrupt professional hierarchy, and engage with your employees to retain the very best talent. “Assisting workers to see a clear learning and career growth path for themselves is key to talent retention,“ says Parag Pande, managing director -human resources, Accenture India.
3 Reward and Recognise
It’s not just enough to inspire your employees to do good work, you need to provide ample reward and recognition. “Appreciation plays a major part in inducing employees to stay on at an organisation,“ says Lalvani. Money is a motivator, but even the little things like sending out mass appreciation mailers could go a long way.
4 Offer Flexibility
There is no doubt millennials are demanding flexibility within their work culture. “Attractive compensation packages are great, but having flexible working hours makes employees stick around,“ says Lalvani. “This helps employees manage their work-life balance better,“ says Pande.
5 Make The Workplace Fun
Millennials want to integrate fun with work, so make changes in the work culture to create an atmosphere employees don’t want to leave.“The opportunity to have fun and to do more than work can motivate your team to stay on,“ says Pande. “Make the workplace exciting, create professional bonding,“ says Lalvani.
Source: Economics Times
Date: 25th August 2015