Reduce that 'Friction'
"If I cannot take the heat, I will leave the kitchen."
Organizations look to outperform the competition by adopting the best market practices for reinforcing their brand presence. However, how prudent are we about our employees? Employee retention practices are highly commanding for all levels of the organization as manpower is the basic 'fuel' for any company to think big and run forward.
Did you know? About 81% of employees would consider leaving their jobs for the right offer, even if they wouldn't be looking for a job at the moment. It's very rationale though. An employee gets hired as he is the right fit. At the end of a long day, a contented employee at work exhibits an organization's triumph.
Studies unveil that India faces an escalation of about 23% in employee attrition since 2020.
Here are a few reasons why companies face a high attrition rate;
Employees have very low tolerance levels. On average, employees face turnabout in jobs within 3 months from the date of joining.
Organizations lack motivation/recognition models.
Employee goals get pivoted after a point.
Most of the employees are dissatisfied with their jobs.
Employees face an unhealthy and unpleasant culture.
Employees face burnout scenarios due to pressure.
It is high time to comprehend that a bright, inclusive culture takes care of employee well-being too. A high employee attrition rate isn't fancy as it showcases an overall symbol of an organization's performance, including its culture.
Having a transparent view of your employee attrition rate is crucial to help you understand where your company stands in terms of candidate retention. If you find that your employee attrition rate is high, for instance, it can mean that you are not providing enough benefits or the best work atmosphere to retain your potential talents.
By mapping and interpreting your attrition rate, you can recognize the various 'attrition gaps' breathing that creates impediments to making a holistic workplace.
Researchers unearth that employee engagement disciplines abate absenteeism to about 41%.
Why? Let's explore these 5 ways to shield your potential employees on a long-term basis.
The right fit matters- According to the business genre, cultural al atmosphere, organizations shall look upon to hire candidates, not just for the job, but he/she shall fit and accommodate towards the basic culture. If not, the attitude goes awry and causes a storm.
Regular meetings create synergy- Teams should suggest conducting regular meetings to feel the 'positive vibe' among all the team members. It could be review meetings, catch-up calls after a long day, appreciating employees for the smallest task. One-to-one meetings do help in various ways. The conversation is more meaningful, deep, and considerate as the focus lies on 'that employee'.
Recreation activities bring a breezy turnaround in the workforce- Employees need to take a break from their bustling calendar! If companies conduct engagement activities on working Saturdays or Fridays lasting at least 45 minutes, re-energizes the spirit of working. Fun and frolic activities create a stress-free atmosphere.
Adequate Training programs- Let it be task training or culture-based training, organizations should look to establish various employee corporate programs which can pave way for their career progression.
Building off-work relations break the ice- This creates room for knowing each other informally. It can be luncheons, dinner parties, get-togethers under various roofs. These scenarios help to strengthen a formulate a good employee rapport as it is "off work".
Eventually, earmarking a considerate time, budget, and resources for employee engagement actions will intensify motivation, promote employee retention, and conclusively make your workplace more valuable and productive.