Retention of employees


Manojkumar1019

Uploaded on Aug 21, 2022

Category Career & HR

Retention Of Employees

Category Career & HR

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Retention of employees

HRM PROJECT ROLE OF HR PLANNING IN RETENTION OF EMPLOYEES (India Yamaha Motors, Faridabad) Group Members :- 1. Anand C.S. ePGP-02-008 2. Arul Deepak Sundararaj ePGP-02-012 3. Gagan Deep Singh ePGP-02-027 4. Gagan Dua ePGP-02-028 5. Manoj Kumar ePGP-02-039 6. Sivasankar Arunachalam ePGP-02-074 Human Resource Management “We cant stop employees from leaving unless we have a plan to make them stay!” “Objective of study” To identify variables which have a significant impact on the retention of employees:- •Identify prominent areas of attribution among the employees. •Assessing and improving employee satisfaction •Judge the level of workforce engagement •Gauge and reinforce the organizational culture and climate •Improve the retention levels in the organization •Provide insight and reinforce the organizational values and ethos •Assisting in the optimal utilization of resources •Assisting in managing and incorporating change in the organization •Examine the past objectives and help in setting the same for the future •Improve communication and understanding of employee's issues & expectations What is Employee Retention?  Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project.  Employee retention is beneficial for the organization as well as the employee. Employees Retention involves five major things: Compensation Environment Growth Relationship Support What is retention all about?  R-enemurate all about  E-ncouragement and expectations  T-raining and development  A-nnual review cycles  I-nform and involve  N-urture What makes employee leave ?  Job is not what employee expected.  No growth opportunities .  Lack of appreciation.  Lack of trust and support.  Stress from overwork.  Compensation.  New job offers. Employee Retention Strategies.  Hire the right person in right place.  Empower the employee.  Make them realize that they are valuable for Organization.  Have faith in them , trust & respect them.  Provide Information & knowledge.  Give feedback on performance.  Recognize & appreciate their achievements.  Keep their morale high.  Create healthy environment. Importance of Employee Retention.  The cost of turnover.  Loss of company knowledge.  Interruption of customer services.  Turnover leads to more turnovers.  Goodwill of Company.  Regaining efficiency. RESEARCH METHODOLOGY Research is an organized inquiry designed and carried out to provide information to solve the problem. The fact, search is an art of scientific investigation of a certain problem. “Research is the process of systematically obtaining accurate answers to significant and pertinent questions by the use of the scientific methods gathering and interpreting information”.   Thank you