Talent Retention Methods

No organization likes to lose its cherished employees, i.e. employees who have fit in well with the environs and the prevalent culture, are both effective and efficient and are respected by their colleagues, seniors and subordinates.  Every organization therefore seeks to retain the best talent within it.  The following are some of the ways and means:

 

*         Proper planning of human resources to avoid redundancies.

*         HR policy to be based on sound principles of HRM in relation to recruitment, promotion, placement and training.

*         Introduction of proper wage incentives and promotion plans.

*         Provision of reasonable amenities and welfare measures.

*         Setting up of machinery for ascertaining the cause of grievances and redressal thereof.

*         Provision of retirement benefits.

*         Provision of proper channel of communication to improve the morale of the employees.

*         Optimum working conditions and work environment.

*         Encourage workers' participation in management.

*         Career planning for all the employees.

*         Providing opportunities for growth, diversification and challenges within the organization.

*         Offer non-monetary rewards to the best performers.

*         Recognize and reward talent transparently and adequately.

*         Take care of the security and insurance needs of the employee and his family.

*         Provide enough opportunity for the social needs of the employee.

*         Continuously nurture and train the employees.

*         Provide ample scope for self-development to each employee.

*         Try to bridge the gap between the employee's goals and aspirations and the corporate objectives.

*         Provide clarity and enrichment in his job.

 

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