Employee retention is the magic of leading successful organisations. Spinning mills need to implement tried out successful mesures to retain its employees.WINSYS SMC has explained through this training session.
2. Retention Rate formula and definition
Key factors of Retention
Retention Strategies
Impact of Less Retention
Reasons to leave a company
Reasons to stay in a company
3.
4. Demographic changes(Matured
workers/Flourishing economy)
Cultural expectations(Entire lifetime with one
company/Employer treatment as family)
Upheavals in the world of Work in Spinning
mills(Violent disruptions)
Flourishing States in India
5. Hiring right
Making our company`Employer of Choice`
Retaining Multi generation Employees
Develop right `Work Culture`
Help employees to avoid `Burnouts`
Strengthening Retention
Skills(Counselling/feedback)
6. Develop Mentor Scheme
Appreciate the high performance employees
Wish them on `Birthdays/Anniversaries`
7. Type of work
Respectful treatment
Coaching/Training
Opportunity to learn new skills
Pay
Appreciation for good idea
Environment conditions
8. Loss of productivity/Quality consistency
Not meeting Schedules
Loss of Opportunities
Loss of Image
9. Fail to connect with their bosses as leaders
Work environment is not particularly friendly
Do not feel appreciated
Managers will not listen to employees
No motivation
10. Limited career growth or opportunity
Lack of respect
Higher compensation
Felt their job duties were unchallenging
Felt their supervisor lacked leadership skills
For better work hours
Moving with group
Unhygenic conditions of Hostel/Dormitory
Less Medical attention even at times of need
11.
12. Employees are the heart and soul of an
organization
Employee turnover is costly for an
organization
Finding suitable replacements for key
employees (Ex:Spinners) is difficult
Low employee turnover leads to outstanding
performance of an organization
13.
14. Have a smooth relationship with their boss
Workplace is a team oriented environment
Contributions are appreciated/Rewarded
Workplace is a “climate for learning characterized by trust
and openness towards more future earnings”
“Feel at home” Hostel environment
Nutritious food habits and healthy activities for mind and
body
Offered programs like Educational Benefits, Career courses
15.
16. Job security/Fair treatment
Employees want to be treated fairly
Companies must demonstrate more than its
minimum obligations
Communication
Individuals must know on performance evaluation
measures
Goals must be
reasonable/achievable/Realistic/Measurable
17. Pride and teamwork
Employees want to feel good when they achieve
results either individually or collectively as a team
Individuals need to be trained and retrained
If there is a necessity of `unlearning` Organisations
should create such a climate.
Employees expect enthusiastic teammates to work
with for better motivation
If less performing employees are `unattended` it
leaves a message `sub standard performance is
acceptable`
18. Make the job enjoyable as fun
Without disrupting the overall productivity of
employees, making the job enjoyable is beneficial.
Without time to celebrate, employees are more
likely to experience elevated stress and `burn-
out`.
19. Recognition
Employees need recognition
Recognition must be `specific` like
`Awards/publicising his achievements across the
organisations`
(example:Awarding a cash award by sharing the
part of benefits of an energy saving measure
suggested by an employee)
20. What are the ways to find the
level of happiness of our
employees?
21. Assure employees that they can express
freely `what they feel/what makes to feel so`
Seek the services of a third party to survey
Share the survey findings with a plan of action
with the team.
If you can determine why employees are not
happy, it’s likely you can prevent them from
leaving by changing practices, culture, and
sometimes even your management style.
22. Mentor Scheme
Monthly meeting of all employees by HR and
Unit head( shd be as informal as possible)
23. Leaders are open to criticism
Leaders are transparent in communication
Leaders take decisions
Leaders communicate to employees in
advance without any surprises
Leaders set `goals`
Leaders `appreciate `good work done
Go through reasons
Compare previous answers
*How do you think this connects to your role in your county office?
-How can you develop good working relationships with your co-workers to overcome the “connection” issue?
-Have any of you had complaints by co-workers about your office setting?
In the study by Bhasin, he refers to the workplace as sometimes being hostile.
What are some ways you could help the office setting become more friendly?
Extension Risk Management
-Have you ever had a boss that made you feel appreciated or not appreciated?
In what ways did he/she make you feel appreciated
In what ways did he/she make you feel appreciated
Give me some ideas about how you could make your co-workers feel appreciated
Congratulate, compliments, end of the week lunch, thank you cards
What about asking their input on certain decisions? Sometimes, that is a big compliment to people.
-It is always a good idea to take into considerations what your co-workers/employees are saying.
This could help your organization, work environment, and employee retention
Briefly touch on other reasons.
*Any comments/suggestions?
*We covered this in the previous slide so answer this question for me…
*In Extension, why is it important to keep employees long term?
*These studies suggest that it is important to keep employees long term because (read above)
*How do businesses expand?
Grow in size, right?
How are they able to grow in size?
By hiring more employees?
Higher employee retention means more success for the business.
*We have talked about why employees leave, now we are going to talk about why they stay.
*We can benefit from learning about items they do not like, but it is even more beneficial to learn why they stay. If we know what we can do to keep them happy, we can focus on those areas and succeed.
*Just as understanding why employees stay with a company, understanding what they want is also important.
*Why should we pay attention to what employees want from their job/bosses/co-workers?
Read first reason
*Job security-employees do not want to keep one foot out the door.
-How do you all feel when something important in your life is unstable?
-They want to feel secure they will not only get reimbursed fairly, but that their job will be there as long as they need it.
Read second reason
*If they want to connect with their bosses as leaders and as people, they will need to be able to communicate with them.
Read slide
*Tell me how you determine if your employees are happy?
*The first characteristic of a leader is…(Read slide)
*We have talked about how communication is important, have you ever had to work with someone who would not communicate at all or had poor communication skills?
*How did you handle that situations?
*What were the main problems that arose because of the lack of communication?
*How did you solve those issues?