What makes an employee stay or go? Researchers say that employees stay or are retained because of the pay package. This is increasingly true in the recessionary times. Today, every executive knows the value of earning a salary, of first of all having a job. Nobody today affords to just quit because the outside is bleak.
But what’s interesting is that while the package can hold them, it doesn’t have the power to make them go beyond the call of duty. And what can make your employee deliver more than his role? That’s where emotional satisfaction comes. If he feels the “connect” with his job, his manager, his team leader and his organisation only then does he go beyond the call of duty. And who’s job is it to make him feel that way in the organisation? Is this the job of the HR?
No organisation can however imagine that considering the dark landscape outside, the investment in the employee is not required. For when the sun shines again the best will be the first to leave. So how do we retain them when we are already so worried about business coming in? And what can we invest in them when the returns from the market are taking a beating? How do we keep an employee emotionally satisfied when we can afford to spend less than earlier on him? Your ideas?
I am also trying find out, what is the best way to retain employees, other than salary there are many other ways, we can retain them provided we are able to create synergy between the immediate reporting manager. Most of the time retaining is a major issue as the direct manager does not value their importance.
ReplyDeleteDolfs, you are bang on... As someone said, people join a company for their packages but leave because of their managers. Access to super bosses is essential. Also interim levels of managers should be sensitized to this phenomenon. Comapny bonding forums like parties, picnics, meets etc are a great way to let employees meet others and air their peeves and not keep0 them closed up which often leads to attrition. Also professional betterment through training programs make employees feel that their companies care. So bosses should be encouraged to propose the names of their team members and state their needs for improvement and professional enhancement. What do you think?
ReplyDeleteDolf we completely understand where this comes from. We have a cross section of industries as our customer base. This issue does raise questions - what is it that we can do to keep them back? The answer ofcourse is not so simple. What we have found to be effective (when we do our leadership & teamwork training programs) is a no holds barred interaction between the concerned people in a neutral environment. Initially this may cause some heated arguments, however it does eventually lead to some amount of empathy between them.
ReplyDeleteThe employee needs to understand what is expected out of him/her. The manager , on his/her part must understand his own strengths and limitations, as well as those of the employee. It cannot be a personal ego battle but an issue based discussion. The outcome has to be a WIN WIN situation for both to survive successfully.