Quality human resources management is known to be the most common problem that managers and executives face, while economic uncertainty makes it more complicated. This article will project light on different techniques and methods being used by human resource managers to ascertain employee retention in every business model. It is very important to understand that good human resource management can have a fruitful influence organizational performance and profitability.
It is the core responsibility of senior management to train its employees and provide the necessary support. It is a fact that all businesses with a high rate of employee retention generate excessive revenues for the company. The cause to this rate of high employee retention is good salaries, performance rewards, incentives, recognition, authority and responsibility. It is usually considered that money is the main driving force for employees to be productive and motivated while field research and surveys have shown a completely different picture as motivation and job satisfaction came out to be the dominant reasons why employees would prefer to remain in a company.
What gives an employee a sense of job satisfaction?
1. Keep your employee motivated
In order to inspire your subordinates, being a manager, you should keep them motivated. This not only results in letting the employees have a sense of responsibility and keep them aim oriented but also acquire you respect and good will. Remember, employee retention guarantees economic stability to every business.
2. Introduce effective HRM practices
It is a known fact now that poor HRM practices can never make the best of an employee’s full potential. While effective HRM practices can directly result in above average employee performances that can increase record breaking productivity.
3. Adopt smart recruitment policies
The human resources you are trying manage and make the most of our actually appointed by your own choice. If you were right at making that choice your human resources can be beneficial for you by introducing effective motivation practices but in contrast if your recruitment process was poor and badly managed, you cannot work well with incompetent work force.
4. Offer rewards and incentives
Business revenues that are shared with the human resources get doubled. Keeping staff motivated results in higher performance that subsequently get you maximum turnovers. Target achievers, time keepers and hard working employees expect appreciation in both verbal and fiscal shapes. When they continuously work hard and meet targets but do not get treated with additional benefits, their moral gets down and productivity decreases.
5. Arrange necessary training programs
It is essential to give an employee a sense of achievement. If a career oriented employee loses hope to grow further with your company, he/she won’t be interested in prolonging with you any further. Make your employees look the future they can make with your company.
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