Retaining staff is always challenging as different personalities need different rewards (tangible and or intangible). Lot of times companies choose short term strategies by having pay raises which may contribute in retaining, but others may just need a gesture of appreciation, recognition or career development path to be motivated and passionate about their work. Such rewards always leave a long lasting impact on the employees and does not cost much except for having appropriate HR policies in place.
Some specific examples of companies and their attempts to retention in India are mentioned in the article "Golden rules to retain staff".
Please check the link for complete information.
http://www.rediff.com/money/2007/apr/11spec.htm
Tuesday, July 17, 2007
Sunday, July 8, 2007
Sick-Child day care benefts to employees
As the workforce demographics re changing at fast pace so are the employers thinking of different ways to support the changing workforce needs. One such benefit is the "Sick-child day care centers".
Sick-child day care not only provides relief to working parents but huge pay offs to employers as well. The national Association for Sick Child Daycare (NASCD) estimates that for every dollar invested for such day care for employees, the returns are $ 2.50 in the form of avoided costs for, paid sick leave, lost productivity, temporary staffing services and turnover etc. Looking into the needs of sick children, this facility may not require a huge upfront investment by the employers yet the returns may be huge in terms of both tangible and intangible benefits to both parties.
NASCD further says there are sick-child day care centers in 33 states and centers like that need to emerge more as NASCD estimates that every day more than 350,000 children of working parents are ill. Well the number of centers remain small as they can not survive without the support of corporate community. Often employers pay a part of the cost which is not enough to keep it running as the number of sick children coming may vary all the time. When usage drops, corporate community or he center operators must provide the needed financial support to keep it running in the bigger interest of the community.
Source: www.shrm.org/hrmagazine/07January
Sick-child day care not only provides relief to working parents but huge pay offs to employers as well. The national Association for Sick Child Daycare (NASCD) estimates that for every dollar invested for such day care for employees, the returns are $ 2.50 in the form of avoided costs for, paid sick leave, lost productivity, temporary staffing services and turnover etc. Looking into the needs of sick children, this facility may not require a huge upfront investment by the employers yet the returns may be huge in terms of both tangible and intangible benefits to both parties.
NASCD further says there are sick-child day care centers in 33 states and centers like that need to emerge more as NASCD estimates that every day more than 350,000 children of working parents are ill. Well the number of centers remain small as they can not survive without the support of corporate community. Often employers pay a part of the cost which is not enough to keep it running as the number of sick children coming may vary all the time. When usage drops, corporate community or he center operators must provide the needed financial support to keep it running in the bigger interest of the community.
Source: www.shrm.org/hrmagazine/07January
Sunday, July 1, 2007
Employee retention
The previous post emphasized the role of good cmmunication channels. Yet another compelling reason for having strong communication networks is employee retention.
With the changing work culture in almost all expanding companies, "teamwork" can never be less emphasised. If employees have to work in teams all the time, they long for teams that are coherent, cooperative and in thier comfort zone. Developing informal networks is one way to achieve that teamspirit and belongingness. The least a manager of a group or team lead can do is initiate and encourage such healthy and productive informal networks. Managers/Leaders can always tap into such networks as soon as they fear turnover by good talented employees. Further, to enable talented employees resist pressure from headhunters, they need to have built in trust in their employers. And communication can lay strong foundation for an ever lasting and enduring relationship between the employee and employer.
With the changing work culture in almost all expanding companies, "teamwork" can never be less emphasised. If employees have to work in teams all the time, they long for teams that are coherent, cooperative and in thier comfort zone. Developing informal networks is one way to achieve that teamspirit and belongingness. The least a manager of a group or team lead can do is initiate and encourage such healthy and productive informal networks. Managers/Leaders can always tap into such networks as soon as they fear turnover by good talented employees. Further, to enable talented employees resist pressure from headhunters, they need to have built in trust in their employers. And communication can lay strong foundation for an ever lasting and enduring relationship between the employee and employer.
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