Retention strategies aim to retain key people in the organization and keep turnover at the required level. They are based on an analysis of why people leave or stay with the organization. An employee retention plan should address each of the areas where there may be a lack of commitment to the organization and job dissatisfaction. Consider specific, practical actions to address the causes or prevent these situations from occurring.
The reasons why people stay with an organization can be established through surveys. They identify segments of respondents according to length of service to the organization and analyze responses from veterans of the organization to establish possible patterns. The results of the survey can be supported by focus groups that discuss the reasons for staying with the organization and identify possible problems (Burke & Cooper, 2018). Analysis of people’s reasons for leaving through exit interviews can provide some information, but they are not entirely realistic – people rarely reveal the true reason for leaving.
A retention plan should look at each of the areas where there may be a lack of commitment and dissatisfaction. HR uses them to understand what’s happening to staff in the here and now, and uses that data to decide what to do. Among these tools are employee assessments, satisfaction surveys, and assessment-360. Assessment-360 reveals a comprehensive picture of the world and touches on topics that are often forgotten in the hectic pace of life (Burke & Cooper, 2018). It is recommended once a year because it takes a long time to process the data.
The satisfaction survey should be conducted in two formats. The first is a survey model designed to track the dynamics of employee satisfaction. It consists of 12 questions, where one can allocate blocks devoted to the relationship with the team, the manager, as well as their own development. The examples of the questions include:
- What can prevent you from being motivated to work harder?
- Do you feel unsatisfied with the salary?
- Do you feel comfortable working with the staff?
This simple survey can be conducted by the employee’s manager without the help of HR. These tools are optimal in terms of cost of resources and effectiveness. I prefer to do the Gallop Institute survey once a quarter, the satisfaction survey once every six months, and the 360 evaluation once a year. This will give you the clearest, most dynamic and comprehensive picture possible of your employees.
Reference
Burke, R. J., & Cooper, C. L. (2018). Building more effective organizations: HR management and performance in practice. Cambridge University Press.