Employee Retention Software and the Big Picture
Employee turnover is still one of the most crucial issues in the workplace today, based on a recent study of human resource managers. About 60% of them say people with skills are scarce; 46% claim that worker retention is an extremely serious issue; and 28% think it is moderately serious.
When companies take extra measures to boost their employees' satisfaction, they end up having the highest retention rates. Pay is not the sole solution. Although bonuses, flexy time schedules and stock options are welcome, what workers are really looking for is job security.
Among the most effective retention strategies using an employee engagement program according to significance are seminars and conferences, education cost reimbursement, training for managers, pay for performance, flexy time, interpersonal abilities training, and technical training
The first five are connected to learning. The current workforce knows how important sustained personal improvement is as a way to achieve job security. However, a lot of companies are still inclined to increase pays as a solution instead of thinking long term.
Complete job satisfaction is more important to employees than pay alone, according to a recent study of 4000 office workers. In the research, a mere 6% of employees who were happy with their jobs but not with their pay rates, consider resigning. Amazingly, 27% of people who weren't happy with their jobs but happy with their salaries tend to quit. Combining dissatisfaction with work and pay, 41% of the respondents would jump ship. Know more about employee retention in http://www.ehow.com/info_8083548_objectives-employee-retention.html.
The question is, what gives employees satisfaction? Studies point to five: opportunity for career advancement, meaning behind work, effective communication in the workplace, reasonable and constant performance expectations and accountability, and lifestyle balance.
The issue of pay is always easier and faster to resolve. However, giving workers reason to be satisfied in their jobs requires time and in-depth analysis, and leads to long-term rewarding results. Pay increases must not be restricted to discussions of rank and power. There is no basis for the belief that making more requires moving up. People should be rewarded for their knowledge and performance, and not for the time they've spent with the company or the number of people they manage.
Other types of "pay" must also be considered as a way to keep people in the team. One company provides an odd but effective work benefit: they send professional cleaners to tidy up their workers' homes once a month. This makes the company stand out from competition and even excites the family of the employee.
Finally, remember that life is always above money. Employees are already too stressed, and they deserve compensation in terms of free time. For instance, workers should be given paid days for attending to important personal affairs. You may use these stay interview questions.