Retention Strategies: Keys to Lower Employee Attrition Rates

Employees leave companies due to several reasons, some of which the employers do not recognize. Employers must listen to workers' essential requirements and execute approaches that enhance employees' satisfaction, motivation, and involvement. Such retention measures can have a meaningful and positive influence on a company's employee attrition rate (Jono & Maurya, 2018). Talent acquisition and hiring of competitive personnel continue to raise concerns to organizations across the globe. Most to performing employees receive incentives from competing companies as organizations battle for top and competent career individuals.

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A recruitment plan is essential in ensuring that the human resource management department remains robust and does not face employee shortage, position gap, or high rate of employee attrition (Jono & Maurya, 2018). The purpose of this paper involves the assessment of strategic plans that outlines measures to mitigate the impact of sudden staff attrition. Furthermore, this paper intends to propose a recruitment plan to fill a managerial position after a rapid departure of a top-performing manager and develop a pre-boarding checklist and an onboarding proposal covering a worker's first 30, 90, and 180 days with productivity metrics. Besides, this paper tries to pinpoint programs and procedures that can proactively prevent attrition.

Mitigating the Impact of Employee Attrition

Succession strategy minimizes staff attrition by building personalities, organizing them to administer essential positions adeptly, and assisting them in advancing into better specialists. In this contemporary world, it has become a trend for every company to actively formulate a succession strategy to ensure that its labor force reliably can bridge the skill gap and fill challenging career roles in the company within the shortest period. Sometimes, organizations lose principal workers, thus leaving most proficient job ranks vacant (Jono & Maurya, 2018). Under such circumstances, the presence of a succession planning program ensures that the company has capable, skilled, and competent staff to fill the job vacancies without having to recruit new employees. Such measures ensure that the organization's operations continue seamlessly without interruptions due to sudden employee attrition.

Employers may lose highly productive worker(s) any day, interrupting the functions of the organization. It is essential to cross-train workers to ensure they remain aware of possible challenging responsibilities. Such strategies maintain the company's mission and objectives in case a staff leaves. Identifying the most productive employees within the firm, strengthening the best approaches to coach them, and promoting them to unique job positions ensures business continuity (Jono & Maurya, 2018). The succession planning approach improves workers' efficiency, enhances their scope of development chances, and build successor character immensely. Besides, succession planning provides the right direction to the career growth of employees and equip them for a precise successor duty, encourage staff commitment, and helps in identifying top competency and improve such talents. Furthermore, planning future needs of the organization helps in identifying the weaknesses and strengths of the personnel.

Programs and Procedures to Prevent Employee Attrition

Some of the reasons why employees leave an organization include such aspects as feeling dissatisfied at the workplace, or the job does not reflect their expectations, mismatch between the occupation and the individual, and too little training and job satisfaction feedback (Sundrani, 2019). Besides, factors such as lack of growth and career advancement, devaluation and lack of motivation, overwork, and imbalance in work and personal life, and loss of trust and confidence in the executive contribute to a high rate of employee turnover.

Scholars argue that recruiting new workers entails much expenditure, time-consuming, and demanding. The vital measure involves retaining competent employees. Employers can formulate strategies to ensure workers remain happy and engaged in the activities of the organization rather than seek jobs elsewhere (Sundrani, 2019). Training the staff strengthens their sense of value in the sense that it ensures workers accomplish objectives of the company and fulfill their job requirements. A mentoring scheme incorporated with a goal-oriented response mechanism offers a framework system for designing strong links within a firm and entails a great effort at ensuring employee retention and progress. A mentoring platform enhances the opportunity to improve on particular fields, offers productivity feedback, and outlines a person's career growth plan.

Inculcating positive values such as honesty, attitude, excellence, respect, and teamwork enhances the company's ability to attract and retain top-performing employees. An excellent communication structure enhances the company's competency to build rapport with its employees and develop credibility. An effective reward program through appreciation and benefits also helps in mitigating the worker's attrition, encouraging recommendations, and enlistment from within reducing misperception of career anticipations (Sundrani, 2019). Other strategies include the provision of the growth plan, training, motivation plans, and providing efficient governance regarding management. Besides, employers can schedule their calendars such that employees have enough time to balance their professional careers and personal life.

Recruitment Plan

It is necessary to analyze the recruitment needs and identify skills gaps that the current employees cannot fill. Before recruiting a manager for the company, the human resource department must examine the growth plan of the company concerning significant aspects such as employee attrition and possible promotions (Engel & Curran, 2016). The organization must then develop a hiring approach and recruitment schedule. It is essential to identify the tools you the company requires to execute the hiring plan through candidate tracking structure, accounts on different job advertisements, pre-employment examination, and surveillance systems, among others.

Besides, the company needs to determine the requirement for the position, such as supervisory roles. The recruiting team must then develop a budget for the recruitment process, formulate job descriptions, and institute an applicant recruitment procedure (Engel & Curran, 2016). The company should then initiate a background and reference check, make an offer to the selected applicant, and spell the terms and conditions concerning the vacancies. Finally, control recruits response and analytics to appraise the recruitment strategy and improve it consequently.

Pre-boarding Checklist and Onboarding Proposal

The first step on the pre-boarding checklist involves sending an email or notification to the new employees on their selection, followed by another email or information to the existing employees informing them of the recruitment process of new workers. The recruitment team should then organize a new employee's office and paraphernalia (Engel & Curran, 2016). The onboarding proposal entails the orientation of vital office areas, departments, and workmates. Informing the new employee of their desk and office equipment and undertaking documentation of the new employee.

Finally, the new employee meets the chief executive officer and the immediate supervisor. In the first 30 days, the recruiting team must regularly engage the modern worker, schedule meetings, and introductions with various groups, and organize and schedule training (Engel & Curran, 2016). In the following months, the recruiting team should conduct worker onboarding assessment, conduct staff advancement evaluation, establish and plan appropriate training, and schedule social events and jamborees.

Conclusion

Having a suitable retention plan provides a conducive environment that inspires and motivates workers. Strategies that integrate motivation-development procedures within the company's culture, such as listening, answering, and respecting employee's opinions, rewarding workers based on their productivity, and providing career growth plan offers organization an opportunity to minimize employee attrition. It also ensures the maintenance of top-performing employees. Empowering succession management entails the identification of long-term objectives integrated with a consistent planning mechanism. A firm can make available an online succession management framework to ensure the company's growth plan and offer seamless leadership. It also develops a sustainable talent pipeline for the continuity of the company's operatives.

References

Engel, M., & Curran, F. C. (2016). Toward understanding principals' hiring practices. Journal of Educational Administration. https://www.emerald.com/insight/content/doi/10.1108/JEA-04-2014-0049/full/html

Jono, B., & Maurya, S. K. (2018). Application of human capital analytics to mitigate attrition rates in service sector. Mangalmay Journal of Management & Technology, 8(1), 59-64. http://www.indianjournals.com/ijor.aspx?target=ijor:mjmt&volume=8&issue=1&article=009

Sundrani, R. (2019). A Study on Employee Attrition and Retention: Exploring the issues and Challenges. Advances In Management & Digital Sciences, 1(1), 328-336. http://conference.nrjp.co.in/index.php/amds/article/download/520/503