Strategies to Retain Human Resources
Aleeswari & Jayanthi asked:
STRATEGIES TO RETAIN HUMAN RESOURCES
INTRODUCTION
The Indian economy has been going through a massive transition and transformation process. Restructuring and the process of mergers and acquisitions that had taken a toll of the employment are now giving way to expansion of employment. Finally companies are increasing their advertising budgets and there is a steady growth in employment. The appointment columns are now getting thick and the Internet sites are wooing people to put in their resumes to try their luck for new careers. While this is indeed a welcome development for the HR professionals, moving to different locations to interview prospective candidates, it has also brought in its sweep the problem of employee turnovers.
In all industries, the problem of employee turnover has always been an issue.
Human capital is one of the most critical components of strategic success for many companies.
EMPLOYEE TURNOVER
Employee turnover has been defined as, “the rate of change in the working staff of a concern during a definite period” in other word sit signifies the shifting of the workforce into and out of an organization.
Employee turnover is the cause and effect of instability of employment, apart from being a measure of the morale and efficiency or otherwise of workers.
CAUSES OF EMPLOYEE TURNOVER
Employee turnover is the outcome of resignations and dismissals. Resignations may be due to such causes as dissatisfaction with working conditions, insufficient wages, bad health, sickens, old age, and family circumstances and so on. Dismissals on the other hand, may occur due to participation in strike or union activities, misconduct, insubordinate and inefficiency. But dismay is a lesser cause of employee turnover.
MEASURES TO CONTROL EMPLOYEE TURNOVER
A high rate of turnover is bad both for the workers and the industry. Hence efforts should be made to reduce it or to retain the present workforce. Employee retention plays a key role to prevent employee turnover.
TOP TEN WAYS TO RETAIN AN EXCELLENT EMPLOYEE
Employee retention is one of the primary measures of health of the organization. Exit interviews with departing employees provide valuable information, which can be used to retain remaining staff. Heed their results. The more significant source of data about the health of the organization is existing interviews.
A satisfied employee knows clearly what is expected from him every day at work. Changing expectations keep people or edge and create unhealthy stress. They rob the employee of internal security and make the employee feel unsuccessful. Its not advocated unchanging jobs just the need for a specific framework within which people clearly know what is expected from them.
The quality of the supervision an employee receives is critical to employee retention. People leave managers and supervisors more often than they leave companies or jobs. It is not enough that the supervisor is well liked or a nice person, starting with clear expectations of the employee, the supervisor has a critical role to play in retention. Anything the supervisor does to make an employee feel unvalued will contribute to turnover. Frequent employee complaints center on these areas.
· lack of clarity about expectations,
· lack of clarity about earning potential,
· lack of feedback about performance,
· failure to hold scheduled meetings, and
· Failure to provide a framework within which the employee perceives he can succeed.
The ability of the employee to speak his or her mind freely within the organization is another key factor in employee retention. Does your organization solicit ideas and provide an environment in which people are comfortable providing feedback? If so, employees offer ideas, feel free to criticize and commit to continuous improvement. If not, they bite their tongues or find themselves constantly “in trouble” - until they leave.
Talent and skill utilization is another environmental factor for key employees seek in the workplace. A motivated employee wants to contribute to work areas outside of his specific job description. How many people could contribute far more than they currently do? You just need to know their skills, talent and experience, and take the time to tap into it. As an example, in a small company, a manager pursued a new marketing plan and logo with the help of external consultants. An internal sales rep, with seven years of ad agency and logo development experience, repeatedly offered to help. His offer was ignored and he cited this as one reason why he quit his job. In fact, the recognition that the company didn’t want to take advantage of his knowledge and capabilities helped precipitate his job search.
The perception of fairness and equitable treatment is important in employee retention. In one company, a new sales rep was given the most potentially successful, commission-producing accounts. Current staff viewed these decisions as taking food off their tables. You can bet a number of them are looking for their next opportunity.
The easiest to solve, and the ones most affecting employee retention, are tools, time and training. The employee must have the tools, time and training necessary to do their job well - or they will move to an employer who provides them.
Without the opportunity to try new opportunities, sit on challenging committees, attend seminars and read and discuss books, they feel they will stagnate. A career-oriented, valued employee must experience growth opportunities within the organization.
Take time to meet with new employees to learn about their talents, abilities and skills. Meet with each employee periodically. You’ll have more useful information and keep fingers on the pulse of organization. It’s a critical tool to help employees feel welcomed, acknowledged and loyal.
No matter the circumstances are, never and ever threaten an employee’s job or income. Even layoffs loom, fail to meet production or sales goals, it is a mistake to foreshadow this information with employees. It makes them nervous; no matter how phrased the information; no matter how explain a from the information, even if you’re absolutely correct, the best staff members will update their resumes. I’m not advocating\keeping solid information away from people, however, think before you say anything that makes people feel they need to search for another job.
Staff members must feel rewarded, recognized and appreciated. Frequently saying thank you goes a long way. Monetary rewards bonuses and gilts make the thank you even more appreciated. Understandable raises, tied to accomplishments and achievement, help retain staff. Commissions and bonuses that are easily calculated on a daily basis, and easily understood, raise motivation and help retain staff. Work is about the money and almost every individual wants more.
CONCERN FOR THE HUMAN RESOURCES
There must be certain non-conventional methods or systems whereby, cordial industrial relation in an organization can be secured and human resources can be managed better for attaining the retention objective of the organization. A few of the methods, which can be of Human Resource” may be as follows which will, establish the fact that the management really cares for their employees and are concerned.
Introduction of presenting memento
Sharing of information with the unions
Appreciation note
Discharging certain 7 social obligation
Meeting with the Unions’
Tea-together
Award to the best worker
Birthday and marriage gifts
Barakhana
STRATEGIES FOR BETTER HEALTH CARE
The workers’ health and wealth are in the health and wealth of an organization. Only mutual health care activities would ensure the much-expected result. The sweet homes of employees should be a home of nutrition principles. Management’s investing heavily on the umpteen Number of HR strengthening activities can bring the agenda of “prevention is better than cure” in the first priority to safeguard health. They are the backbone of healthy organizational climate.
All enterprises can adopt ac multifaceted health care strategies and build it up in their personnel policies. The vital strategies to be concentrated are discussed as below.
Strategy I : Health watch of HR
Strategy II : Diet Counseling Centers
Strategy III : Work spot stress / Fatigue releasing fitness centers / Yoga centers
Strategy IV : Organize workshop / meeting / seminar on health care
Strategy VI: Display food and nutrition visual aids at vital places
HUMOR FOR RETENTION
As more and more organizations reengineer, merge, restructure, downsize, right size, and even capsize, employees confront uncertainty on an almost daily basis. The rules keep changing in terms of what they’re supposed to do how they’re supposed to do it, which they do it for, and whether they get to do it at all. And since most have little or no control over the making of these rules, the result is often a sense of powerlessness that translates into increased stress, decreased wellness, demoralization, absenteeism, and lower productivity, all of which affect rates of employee retention.
So the big question for both individuals and organizations-is: how do you keep up spirits, continue to work-effectively, and maintain health and sanity in a crazy-making situation? The team of welfare workers described chooses to laugh. They could also choose despair, cynicism, bitterness, or negativity, but instead team members choose laughter. As one worker states, “We could either cry, or we could laugh/ but you can only cry for so long. We’d had enough of crying, and it was time to do something else.”
WHY LAUGHTER?
We all know that it makes us feel good, but in today’s bottom-line oriented workplace, the term “feel good” is too nebulous to have much impact on how people go about structuring their job interactions and professional relationships. And most organizations are not going to promote humor as part of their culture because some “touchy freely” wellness devotee thinks that having the boss come to work dressed as a chicken will create a happy afterglow.
So any discussion of the benefits of laughter needs to be more tangible and focused on addressing-positive morale, a major factor contributing to the retention of valued employees. Remember though, humor is a coping mechanism to aid in employee retention, not a cure-all for other systemic problems affecting organizations.
JOB STICKINESS
In today’s healthy job market–where job seekers in even non-technology areas can find positions fairly quickly – employers must do something to make their companies “sticky” if they want to avoid costly turnover.
PAY IS IMPORTANT
What contributes to stickiness? Obviously, pay is important. Employees may love their jobs and their company, but if their incomes lag comparable jobs by more than 5 to 10 percent, it’s goodbye stickiness and goodbye job. Similarly, benefits have to be at market levels. They need not be great – although thoughtful benefits are a way smart companies retain worker – but they can’t be markedly worse than benefits available at most other comparable jobs.
A SENSE OF PURPOSE
The person doing the job also should know to whom he or she is responsible. The manager, supervisor or boss should be empowered to say, “yes, do this” or “no, don’t do that.
CORE VALUES THAT ARE UNDERSTOOD AND REWARDED
Every organization has its own values. They may be wacky or unwritten. But unless everyone knows what these values are and believes they are followed with consistency, satisfaction drops. Suppose our flexible workaholic company suddenly penalized an employee for leaving early one day. That action would dissolve the stickiness that had been established over time among everyone.
CIVIL BEHAVIOR
But some workplaces are populated by those we may politely label “difficult.” If they’re not screaming or slamming doors or berating colleagues or subordinates, they’re ignoring them, belittling them or regaling them with stories of their own brilliance. These clunkers may be hard to spot when you’re being considered for a job, but they can make any position and company decidedly unstuck. If prospective bosses or colleagues are described as “very demanding” or “brilliant, but temperamental,” watch out.
TOP 10 WAYS TO MOTIVATE TODAY’S EMPLOYEES
Pay employees fairly and well, and then get them to forget about money.
Treat each and every employee with respect. Show them that you are about them as persons, jot just as workers.
Praise accomplishments and attempts:
· Both large and small
· Verbally and in writing
· At least 4 times more than you criticize
· Promptly (as soon as observed)
· Publicly … and in private
· Sincerely
Clearly communicate goals, responsibilities and expectations. NEVER criticize in public-redirect in private.
Recognize performance appropriately and consistently:
· Reward outstanding performance (e.g., with promotions and opportunities)
· Do not tolerate sustained poor performance-coach & train or remove!
Involve employees in plans and decisions, especially those that affect them. Solicit their ideas and opinions. Encourage initiative.
Create opportunities for employees to learn & grow. Link the goals of the organization with the goals of each individual in it.
Actively listen to employees concerns-both works related and personal.
Share information promptly, openly and clearly. Tell the truth … with compassion.
Celebrate successes and milestones reached — organizational and personal. Create an organizational culture that is open, trusting and fun.
A SURVEY
Survey results include responses from 451 HR professionals and 300 managerial or executive employees.
Employees cited the following three top reasons they would begin searching for a new job:
53 percent seek better compensation and benefits.
35 percent cited dissatisfaction with potential career development.
32 percent said they were ready for a new experience.
HR professionals were asked which programs or policies they use currently to help retain employees. The following three are the most common programs employers are using to retain employees:
62 percent provide tuition reimbursement.
60 percent offer competitive vacation and holiday benefits.
59 percent offer competitive salaries.
Most HR professionals surveyed (71 percent), in large organizations (those with more than 500 employees), thought it would be extremely likely or somewhat likely to experience an increase in voluntary turnover once the job market improves. Forty-one percent from small organizations (1-99 employees) said it was extremely likely or somewhat likely that turnover would increase. Fifty-three percent of respondents from medium organizations (between 100 and 499) thought the same.
KEY RETENTION STRATEGIES
Select the right people in the first place through behavior-based testing and competency screening. The right person, in the right seat, on the right bus is the starting point.
Offer an attractive, competitive, benefits package with components such as life insurance, disability insurance and flexible hours.
Provide opportunities for people to share their knowledge via training sessions, presentations, mentoring others and team assignments.
Demonstrate respect for employees at all times
Offer performance feedback and praise good efforts and results.
People want to enjoy their work. Make-work fun. Engage and employ the special talents of each individual.
Enable employees to balance work and life. Allow flexible starting times, core business hours and flexible ending times. (Yes, his son’s soccer game is important.)
Involve employees in decisions that affect their jobs and the overall direction of the company whenever possible. Recognize excellent performance, and especially, link pay to performance.
Base the upside of bonus potential on the success of both the employee and the company and make it limitless within company parameters. (As an example, pay ten percent of corporate profits to employees.)
Recognize and celebrate success. Mark their passage as important goals are achieved.
Staff adequately so overtime is minimized for those who don’t want it and people don’t wear themselves out.
Nurture and celebrate organization traditions. Have a costume party every Halloween. Run a food collection drive every November. Pick a monthly charity to help. Have an annual company dinner at a fancy hotel.
Provide opportunities within the company for cross-training and career progression. People like to know that they have room for career movement.
Provide the opportunity for career and personal growth through training and education, challenging assignments and more.
Communicate goals, roles and responsibilities so people know what is expected and feel like part of the in-crowd.
According to research by the Gallup organization, encourage employees to have good, even best, friends, at work.
CONCLUSION
Key employee retention is critical to the long term health and success of any business. Managers readily agree that retaining the best employee ensures customers satisfaction, product sales, satisfied co-workers and reporting staff, effective succession planning and deeply embedded organizational knowledge and learning. Employee retention matters, training time and investment, lost knowledge, insecure co-workers, costly candidate search aside, failing to retain a key employee is costly, Losing a middle manager costs as organization up to 100% of his salary.
STRATEGIES TO RETAIN HUMAN RESOURCES
INTRODUCTION
The Indian economy has been going through a massive transition and transformation process. Restructuring and the process of mergers and acquisitions that had taken a toll of the employment are now giving way to expansion of employment. Finally companies are increasing their advertising budgets and there is a steady growth in employment. The appointment columns are now getting thick and the Internet sites are wooing people to put in their resumes to try their luck for new careers. While this is indeed a welcome development for the HR professionals, moving to different locations to interview prospective candidates, it has also brought in its sweep the problem of employee turnovers.
In all industries, the problem of employee turnover has always been an issue.
Human capital is one of the most critical components of strategic success for many companies.
EMPLOYEE TURNOVER
Employee turnover has been defined as, “the rate of change in the working staff of a concern during a definite period” in other word sit signifies the shifting of the workforce into and out of an organization.
Employee turnover is the cause and effect of instability of employment, apart from being a measure of the morale and efficiency or otherwise of workers.
CAUSES OF EMPLOYEE TURNOVER
Employee turnover is the outcome of resignations and dismissals. Resignations may be due to such causes as dissatisfaction with working conditions, insufficient wages, bad health, sickens, old age, and family circumstances and so on. Dismissals on the other hand, may occur due to participation in strike or union activities, misconduct, insubordinate and inefficiency. But dismay is a lesser cause of employee turnover.
MEASURES TO CONTROL EMPLOYEE TURNOVER
A high rate of turnover is bad both for the workers and the industry. Hence efforts should be made to reduce it or to retain the present workforce. Employee retention plays a key role to prevent employee turnover.
TOP TEN WAYS TO RETAIN AN EXCELLENT EMPLOYEE
Employee retention is one of the primary measures of health of the organization. Exit interviews with departing employees provide valuable information, which can be used to retain remaining staff. Heed their results. The more significant source of data about the health of the organization is existing interviews.
A satisfied employee knows clearly what is expected from him every day at work. Changing expectations keep people or edge and create unhealthy stress. They rob the employee of internal security and make the employee feel unsuccessful. Its not advocated unchanging jobs just the need for a specific framework within which people clearly know what is expected from them.
The quality of the supervision an employee receives is critical to employee retention. People leave managers and supervisors more often than they leave companies or jobs. It is not enough that the supervisor is well liked or a nice person, starting with clear expectations of the employee, the supervisor has a critical role to play in retention. Anything the supervisor does to make an employee feel unvalued will contribute to turnover. Frequent employee complaints center on these areas.
· lack of clarity about expectations,
· lack of clarity about earning potential,
· lack of feedback about performance,
· failure to hold scheduled meetings, and
· Failure to provide a framework within which the employee perceives he can succeed.
The ability of the employee to speak his or her mind freely within the organization is another key factor in employee retention. Does your organization solicit ideas and provide an environment in which people are comfortable providing feedback? If so, employees offer ideas, feel free to criticize and commit to continuous improvement. If not, they bite their tongues or find themselves constantly “in trouble” - until they leave.
Talent and skill utilization is another environmental factor for key employees seek in the workplace. A motivated employee wants to contribute to work areas outside of his specific job description. How many people could contribute far more than they currently do? You just need to know their skills, talent and experience, and take the time to tap into it. As an example, in a small company, a manager pursued a new marketing plan and logo with the help of external consultants. An internal sales rep, with seven years of ad agency and logo development experience, repeatedly offered to help. His offer was ignored and he cited this as one reason why he quit his job. In fact, the recognition that the company didn’t want to take advantage of his knowledge and capabilities helped precipitate his job search.
The perception of fairness and equitable treatment is important in employee retention. In one company, a new sales rep was given the most potentially successful, commission-producing accounts. Current staff viewed these decisions as taking food off their tables. You can bet a number of them are looking for their next opportunity.
The easiest to solve, and the ones most affecting employee retention, are tools, time and training. The employee must have the tools, time and training necessary to do their job well - or they will move to an employer who provides them.
Without the opportunity to try new opportunities, sit on challenging committees, attend seminars and read and discuss books, they feel they will stagnate. A career-oriented, valued employee must experience growth opportunities within the organization.
Take time to meet with new employees to learn about their talents, abilities and skills. Meet with each employee periodically. You’ll have more useful information and keep fingers on the pulse of organization. It’s a critical tool to help employees feel welcomed, acknowledged and loyal.
No matter the circumstances are, never and ever threaten an employee’s job or income. Even layoffs loom, fail to meet production or sales goals, it is a mistake to foreshadow this information with employees. It makes them nervous; no matter how phrased the information; no matter how explain a from the information, even if you’re absolutely correct, the best staff members will update their resumes. I’m not advocating\keeping solid information away from people, however, think before you say anything that makes people feel they need to search for another job.
Staff members must feel rewarded, recognized and appreciated. Frequently saying thank you goes a long way. Monetary rewards bonuses and gilts make the thank you even more appreciated. Understandable raises, tied to accomplishments and achievement, help retain staff. Commissions and bonuses that are easily calculated on a daily basis, and easily understood, raise motivation and help retain staff. Work is about the money and almost every individual wants more.
CONCERN FOR THE HUMAN RESOURCES
There must be certain non-conventional methods or systems whereby, cordial industrial relation in an organization can be secured and human resources can be managed better for attaining the retention objective of the organization. A few of the methods, which can be of Human Resource” may be as follows which will, establish the fact that the management really cares for their employees and are concerned.
Introduction of presenting memento
Sharing of information with the unions
Appreciation note
Discharging certain 7 social obligation
Meeting with the Unions’
Tea-together
Award to the best worker
Birthday and marriage gifts
Barakhana
STRATEGIES FOR BETTER HEALTH CARE
The workers’ health and wealth are in the health and wealth of an organization. Only mutual health care activities would ensure the much-expected result. The sweet homes of employees should be a home of nutrition principles. Management’s investing heavily on the umpteen Number of HR strengthening activities can bring the agenda of “prevention is better than cure” in the first priority to safeguard health. They are the backbone of healthy organizational climate.
All enterprises can adopt ac multifaceted health care strategies and build it up in their personnel policies. The vital strategies to be concentrated are discussed as below.
Strategy I : Health watch of HR
Strategy II : Diet Counseling Centers
Strategy III : Work spot stress / Fatigue releasing fitness centers / Yoga centers
Strategy IV : Organize workshop / meeting / seminar on health care
Strategy VI: Display food and nutrition visual aids at vital places
HUMOR FOR RETENTION
As more and more organizations reengineer, merge, restructure, downsize, right size, and even capsize, employees confront uncertainty on an almost daily basis. The rules keep changing in terms of what they’re supposed to do how they’re supposed to do it, which they do it for, and whether they get to do it at all. And since most have little or no control over the making of these rules, the result is often a sense of powerlessness that translates into increased stress, decreased wellness, demoralization, absenteeism, and lower productivity, all of which affect rates of employee retention.
So the big question for both individuals and organizations-is: how do you keep up spirits, continue to work-effectively, and maintain health and sanity in a crazy-making situation? The team of welfare workers described chooses to laugh. They could also choose despair, cynicism, bitterness, or negativity, but instead team members choose laughter. As one worker states, “We could either cry, or we could laugh/ but you can only cry for so long. We’d had enough of crying, and it was time to do something else.”
WHY LAUGHTER?
We all know that it makes us feel good, but in today’s bottom-line oriented workplace, the term “feel good” is too nebulous to have much impact on how people go about structuring their job interactions and professional relationships. And most organizations are not going to promote humor as part of their culture because some “touchy freely” wellness devotee thinks that having the boss come to work dressed as a chicken will create a happy afterglow.
So any discussion of the benefits of laughter needs to be more tangible and focused on addressing-positive morale, a major factor contributing to the retention of valued employees. Remember though, humor is a coping mechanism to aid in employee retention, not a cure-all for other systemic problems affecting organizations.
JOB STICKINESS
In today’s healthy job market–where job seekers in even non-technology areas can find positions fairly quickly – employers must do something to make their companies “sticky” if they want to avoid costly turnover.
PAY IS IMPORTANT
What contributes to stickiness? Obviously, pay is important. Employees may love their jobs and their company, but if their incomes lag comparable jobs by more than 5 to 10 percent, it’s goodbye stickiness and goodbye job. Similarly, benefits have to be at market levels. They need not be great – although thoughtful benefits are a way smart companies retain worker – but they can’t be markedly worse than benefits available at most other comparable jobs.
A SENSE OF PURPOSE
The person doing the job also should know to whom he or she is responsible. The manager, supervisor or boss should be empowered to say, “yes, do this” or “no, don’t do that.
CORE VALUES THAT ARE UNDERSTOOD AND REWARDED
Every organization has its own values. They may be wacky or unwritten. But unless everyone knows what these values are and believes they are followed with consistency, satisfaction drops. Suppose our flexible workaholic company suddenly penalized an employee for leaving early one day. That action would dissolve the stickiness that had been established over time among everyone.
CIVIL BEHAVIOR
But some workplaces are populated by those we may politely label “difficult.” If they’re not screaming or slamming doors or berating colleagues or subordinates, they’re ignoring them, belittling them or regaling them with stories of their own brilliance. These clunkers may be hard to spot when you’re being considered for a job, but they can make any position and company decidedly unstuck. If prospective bosses or colleagues are described as “very demanding” or “brilliant, but temperamental,” watch out.
TOP 10 WAYS TO MOTIVATE TODAY’S EMPLOYEES
Pay employees fairly and well, and then get them to forget about money.
Treat each and every employee with respect. Show them that you are about them as persons, jot just as workers.
Praise accomplishments and attempts:
· Both large and small
· Verbally and in writing
· At least 4 times more than you criticize
· Promptly (as soon as observed)
· Publicly … and in private
· Sincerely
Clearly communicate goals, responsibilities and expectations. NEVER criticize in public-redirect in private.
Recognize performance appropriately and consistently:
· Reward outstanding performance (e.g., with promotions and opportunities)
· Do not tolerate sustained poor performance-coach & train or remove!
Involve employees in plans and decisions, especially those that affect them. Solicit their ideas and opinions. Encourage initiative.
Create opportunities for employees to learn & grow. Link the goals of the organization with the goals of each individual in it.
Actively listen to employees concerns-both works related and personal.
Share information promptly, openly and clearly. Tell the truth … with compassion.
Celebrate successes and milestones reached — organizational and personal. Create an organizational culture that is open, trusting and fun.
A SURVEY
Survey results include responses from 451 HR professionals and 300 managerial or executive employees.
Employees cited the following three top reasons they would begin searching for a new job:
53 percent seek better compensation and benefits.
35 percent cited dissatisfaction with potential career development.
32 percent said they were ready for a new experience.
HR professionals were asked which programs or policies they use currently to help retain employees. The following three are the most common programs employers are using to retain employees:
62 percent provide tuition reimbursement.
60 percent offer competitive vacation and holiday benefits.
59 percent offer competitive salaries.
Most HR professionals surveyed (71 percent), in large organizations (those with more than 500 employees), thought it would be extremely likely or somewhat likely to experience an increase in voluntary turnover once the job market improves. Forty-one percent from small organizations (1-99 employees) said it was extremely likely or somewhat likely that turnover would increase. Fifty-three percent of respondents from medium organizations (between 100 and 499) thought the same.
KEY RETENTION STRATEGIES
Select the right people in the first place through behavior-based testing and competency screening. The right person, in the right seat, on the right bus is the starting point.
Offer an attractive, competitive, benefits package with components such as life insurance, disability insurance and flexible hours.
Provide opportunities for people to share their knowledge via training sessions, presentations, mentoring others and team assignments.
Demonstrate respect for employees at all times
Offer performance feedback and praise good efforts and results.
People want to enjoy their work. Make-work fun. Engage and employ the special talents of each individual.
Enable employees to balance work and life. Allow flexible starting times, core business hours and flexible ending times. (Yes, his son’s soccer game is important.)
Involve employees in decisions that affect their jobs and the overall direction of the company whenever possible. Recognize excellent performance, and especially, link pay to performance.
Base the upside of bonus potential on the success of both the employee and the company and make it limitless within company parameters. (As an example, pay ten percent of corporate profits to employees.)
Recognize and celebrate success. Mark their passage as important goals are achieved.
Staff adequately so overtime is minimized for those who don’t want it and people don’t wear themselves out.
Nurture and celebrate organization traditions. Have a costume party every Halloween. Run a food collection drive every November. Pick a monthly charity to help. Have an annual company dinner at a fancy hotel.
Provide opportunities within the company for cross-training and career progression. People like to know that they have room for career movement.
Provide the opportunity for career and personal growth through training and education, challenging assignments and more.
Communicate goals, roles and responsibilities so people know what is expected and feel like part of the in-crowd.
According to research by the Gallup organization, encourage employees to have good, even best, friends, at work.
CONCLUSION
Key employee retention is critical to the long term health and success of any business. Managers readily agree that retaining the best employee ensures customers satisfaction, product sales, satisfied co-workers and reporting staff, effective succession planning and deeply embedded organizational knowledge and learning. Employee retention matters, training time and investment, lost knowledge, insecure co-workers, costly candidate search aside, failing to retain a key employee is costly, Losing a middle manager costs as organization up to 100% of his salary.
Perma-Lancing In Texas, Without A Health Insurance Net
Pat Carpenter asked:
For many self-employed individuals in Dallas, Houston and elsewhere in Texas, health insurance is the last thing they can afford. Those who work for themselves often say, “I can’t afford to get sick. Period.” The term “sick days” isn’t even something that crosses their minds, let alone enters their vocabularies.
In more recent years, many of these self-employed or “perma-lancers” or “perma-temps” as they call themselves, work for a growing number of small companies that don’t provide work benefits. Perma-lancers have become known as people who work as if they were full-time employees, but don’t receive benefits from their employers, like health insurance, paid vacation days, and paid sick days.
Such individuals work for a single employer on a long-term basis and do much the same work as their co-workers who are on the permanent payroll. Employers save on payroll taxes and employee benefits by refusing to switch perma-lancers to employee status. More and more businesses are using perma-lancers as a means of reducing personnel costs, particularly the cost of benefits.
But perma-lancers also offer businesses the flexibility to bring in resources only when they are needed, making this concept a “just-in-time” inventory of human resource talent, a practice that originated in product assembly operations such as Austin’s Dell Computer Company. Opponents of this approach argue that it’s merely a way for businesses to avoid paying benefits to some employees. Proponents contend that it’s a necessary tool in today’s globally competitive world. Along with the absence of benefits, perma-lancers are employed at the whim of market fluctuations where it’s not usual for an assignment to stop if, for example, the advertising revenue falls off for a quarter.
One of the reasons for so many perma-lancers currently on the market is the recent collapse of the dot-com bubble, when thousands of freelancers poured into the workforce. Many perma-lancers love what they do, but their enthusiasm is dimmed by their concerns over whether they can maintain a full-time career, as well as maintaining their health.
“Every time I get sick, I worry,” says one perma-lancer. “I have to take off work, without pay. I have to pay the doctor full price. When getting prescriptions, I ask for generics. I’m careful about crossing streets, because if I get hit by a car, that’s five grand.”
Many of the 20-something perma-lancers also think twice about risky sports, like water skiing or snow boarding, worried about the expense of even a minor injury, such as a sprained wrist or ankle.
A number of perma-lancers seriously consider buying individual health insurance, but many estimate they could spend up to 50 percent of their post-tax income just on housing and health insurance. With that in mind, many self-employed individuals think it makes more sense to play it safe, save the money and go without health insurance.
But perma-lancing individuals are not the only working-class Americans without health insurance. Unfortunately, there are currently more than 10 million Americans who are solidly middle income but uninsured, with many more individuals working at lower wages with the same problem.
Most of these individuals think that pricing out comprehensive health care insurance isn’t even an option, though public opinion polls show that millions of American rank healthcare about third among their greatest concerns, after taxes and national security.
With the upcoming presidential elections, many perma-lancers are probably considering casting their votes based, in large part, on what the presidential candidates have to say about healthcare.
Health Insurance Quotes
For many self-employed individuals in Dallas, Houston and elsewhere in Texas, health insurance is the last thing they can afford. Those who work for themselves often say, “I can’t afford to get sick. Period.” The term “sick days” isn’t even something that crosses their minds, let alone enters their vocabularies.
In more recent years, many of these self-employed or “perma-lancers” or “perma-temps” as they call themselves, work for a growing number of small companies that don’t provide work benefits. Perma-lancers have become known as people who work as if they were full-time employees, but don’t receive benefits from their employers, like health insurance, paid vacation days, and paid sick days.
Such individuals work for a single employer on a long-term basis and do much the same work as their co-workers who are on the permanent payroll. Employers save on payroll taxes and employee benefits by refusing to switch perma-lancers to employee status. More and more businesses are using perma-lancers as a means of reducing personnel costs, particularly the cost of benefits.
But perma-lancers also offer businesses the flexibility to bring in resources only when they are needed, making this concept a “just-in-time” inventory of human resource talent, a practice that originated in product assembly operations such as Austin’s Dell Computer Company. Opponents of this approach argue that it’s merely a way for businesses to avoid paying benefits to some employees. Proponents contend that it’s a necessary tool in today’s globally competitive world. Along with the absence of benefits, perma-lancers are employed at the whim of market fluctuations where it’s not usual for an assignment to stop if, for example, the advertising revenue falls off for a quarter.
One of the reasons for so many perma-lancers currently on the market is the recent collapse of the dot-com bubble, when thousands of freelancers poured into the workforce. Many perma-lancers love what they do, but their enthusiasm is dimmed by their concerns over whether they can maintain a full-time career, as well as maintaining their health.
“Every time I get sick, I worry,” says one perma-lancer. “I have to take off work, without pay. I have to pay the doctor full price. When getting prescriptions, I ask for generics. I’m careful about crossing streets, because if I get hit by a car, that’s five grand.”
Many of the 20-something perma-lancers also think twice about risky sports, like water skiing or snow boarding, worried about the expense of even a minor injury, such as a sprained wrist or ankle.
A number of perma-lancers seriously consider buying individual health insurance, but many estimate they could spend up to 50 percent of their post-tax income just on housing and health insurance. With that in mind, many self-employed individuals think it makes more sense to play it safe, save the money and go without health insurance.
But perma-lancing individuals are not the only working-class Americans without health insurance. Unfortunately, there are currently more than 10 million Americans who are solidly middle income but uninsured, with many more individuals working at lower wages with the same problem.
Most of these individuals think that pricing out comprehensive health care insurance isn’t even an option, though public opinion polls show that millions of American rank healthcare about third among their greatest concerns, after taxes and national security.
With the upcoming presidential elections, many perma-lancers are probably considering casting their votes based, in large part, on what the presidential candidates have to say about healthcare.
Health Insurance Quotes
Health Insurance In An Unmarried Relationship
Melih Oztalay asked:
Thanks to the gay rights movement and the increase of both unmarried heterosexual and homosexual couples living together throughout Texas and the United States, the workplace trend toward domestic-partner benefits is improving the lives of many committed couples, regardless of sexual orientation or marital status.
As of March 1, 2006, only 49 percent of the Fortune 500, 78 percent of the Fortune 100 largest corporations, and a small percentage other, smaller businesses, organizations and educational and government entities offered health benefits to employees’ domestic partners, according to a recent study by the Human Rights Campaign Foundation.
And while it’s true that the number of companies involved is relatively small, there are some very large employers, such as the Big Three automakers, who have jumped on the bandwagon. The number of individuals affected also is limited, but the unmarried couple-count is on the rise and many unmarried households include children who could be important beneficiaries of domestic-partner health insurance.
If your employer or your partner’s employer offers domestic partner benefits, here are some things to consider before you sign up:
Follow the Rules
Most companies require that your significant other be 18 or older, not related to you by blood or married to someone else. You and your partner must live in the same permanent residence in an exclusive, emotionally committed, financially responsible relationship, similar to marriage. You may be required to show you share a lease or a mortgage, an insurance policy, utility bills, a joint checking account, etc.
The Taxing Situation
While the IRS allows the cost of health benefits for married spouses and dependents to be tax deductible, it hasn’t yet given the same rights to unmarried couples. So the amount of money that your employer pays for health insurance for an unmarried partner and any children will be included as taxable income on your W-2.
Insurers May Not Agree
While your company may be willing to pay for these benefits, not all health insurance companies whose plans are available to an employee may agree. Some insurers are concerned that domestic partner benefits will drive up costs. For example, it’s possible that the less-expensive HMO may raise objections, while the more expensive Preferred Provider Organization (PPO) or the traditional indemnity plan may not. If you have questions about your plan, talk to your human resources department or call the insurer directly.
Share the power
If you’re the partner holding the policy, it doesn’t necessarily mean you can make any health care decisions for your significant other if or when he/she is unable to make them. Married couples have much broader rights. A healthcare power of attorney can overcome what could be a big issue in an emergency. It has nothing to do with money. It simply allows the person you designate - in this case, your partner - to make medical decisions on your behalf if you are unable. It also can ensure that if you become ill, your partner will be able to visit while you’re in the hospital. The document, which should be prepared by an attorney, can also specify the names of physicians and limit the use of life-extending procedures. But it doesn’t have to be that complicated. Keep the completed document someplace, other than a safety deposit box, so it is accessible when you need it most.
It’s Over and You’re Moving On.
Most employer-sponsored group policies require that you inform the company immediately if your living situation changes. A recent federal court decision left open the possibility that COBRA could cover domestic partners. COBRA is the Consolidated Omnibus Budget Reconciliation Act - federal legislation that requires many businesses to keep former employees and their dependents on the group health plan for a limited period. COBRA regulations allow a divorcing spouse to keep the estranged spouse’s insurance for up to 18 months. The federal court decision said this didn’t specifically exclude domestic partners. But the likelihood an unmarried partner will be able to claim COBRA is slim. That means that the partner could be left without his or her own insurance with little or no notice.
With only 49 percent of Fortune 500 companies and an even smaller percentage of small businesses offering health benefits to employees’ domestic partners, this still leaves a large majority of unmarried couples with possibly one individual in the relationship uninsured.
Human Resources Outsourcing Considerations
Chris S Walton asked:
Human resources outsourcing is now a mature industry, a direct consequence of the increasing trust companies have placed in the outsourcing process. Though this concept has been around for quite some time, the growth of HR outsourcing is a relatively recent phenomenon.
A study conducted by The Conference Board in 2004 on 120 companies with annual revenues of at least US$ 1 billion in North America and Europe revealed that 80 per cent of them would turn to outsourcing HR services again. None of the companies revealed that they would wish to take their HR responsibilities back in-house. This is clearly proof that HR outsourcing is really working wonders for businesses, helping them reduce costs and streamline business processes for better productivity. So what exactly are the human resources outsourcing considerations?
The most important consideration companies have is costs. They want to be sure HR outsourcing will ultimately result in reducing their operating costs. It does, even if you’re outsourcing a few HR services. But executing the entire range of human resource responsibilities is ultimately the most profitable and will deliver the best results. It isn’t hard to understand why. With outsourced HR services, your company wouldn’t have to maintain a dedicated HR department. It saves resources and the effort of your staff that could be utilized for the core tasks of the business.
Secondly, human resources outsourcing brings about a streamlined business process for the company. Employers could concentrate on the core tasks and all the other departments of their business as part of a more focused approach. Furthermore, a relationship with a PEO (Professional Employer Organization) or employee leasing firm gives you access to expert ideas and solutions in all areas of your business.
Taking into account these human resources outsourcing considerations it’s easy to conclude that association with a proficient PEO could work only positively for your organization.
Auto Insurance Quotes
Human resources outsourcing is now a mature industry, a direct consequence of the increasing trust companies have placed in the outsourcing process. Though this concept has been around for quite some time, the growth of HR outsourcing is a relatively recent phenomenon.
A study conducted by The Conference Board in 2004 on 120 companies with annual revenues of at least US$ 1 billion in North America and Europe revealed that 80 per cent of them would turn to outsourcing HR services again. None of the companies revealed that they would wish to take their HR responsibilities back in-house. This is clearly proof that HR outsourcing is really working wonders for businesses, helping them reduce costs and streamline business processes for better productivity. So what exactly are the human resources outsourcing considerations?
The most important consideration companies have is costs. They want to be sure HR outsourcing will ultimately result in reducing their operating costs. It does, even if you’re outsourcing a few HR services. But executing the entire range of human resource responsibilities is ultimately the most profitable and will deliver the best results. It isn’t hard to understand why. With outsourced HR services, your company wouldn’t have to maintain a dedicated HR department. It saves resources and the effort of your staff that could be utilized for the core tasks of the business.
Secondly, human resources outsourcing brings about a streamlined business process for the company. Employers could concentrate on the core tasks and all the other departments of their business as part of a more focused approach. Furthermore, a relationship with a PEO (Professional Employer Organization) or employee leasing firm gives you access to expert ideas and solutions in all areas of your business.
Taking into account these human resources outsourcing considerations it’s easy to conclude that association with a proficient PEO could work only positively for your organization.
Auto Insurance Quotes
Human Resource Services
Wildfire Marketing Group asked:
Creating a cost-effective benefit package that will also make your employees happy takes time, time that you could be devoting to making sure your company’s day-to-day operations are running smoothly. At CPActuaries, we know how precious your time is, which is why we are pleased to offer comprehensive human resource consulting services to our clients. By utilizing our human resource services to streamline everything from hiring procedures to company payroll to retirement and insurance benefits, you can single-handedly improve your company’s overall effectiveness while saving time and money.
Whether you want an alternative to an in-house human resource department or you are looking for consulting services and support for your existing department, CPActuaries has what you need. We will work one-on-one with you to develop a plan that will best fit the infrastructure you already have in place. Once a new plan has been implemented, we help you maintain those human resource services. Our organization employs a team of dedicated experts in the field of human resource consulting. Any question you may have regarding human resources, we can answer. Best of all, our professionals are on-call for you 24-hours a day, 7 days a week. Helping you take care of your employees is our priority.
Why waste time trying to master a new set of rules? Let CPActuaries, the leader in human resource consulting services, take care of all of those needs. That way you can put your time and energy back where it needs to be: on running your business.
Insurance Price Quotes
Creating a cost-effective benefit package that will also make your employees happy takes time, time that you could be devoting to making sure your company’s day-to-day operations are running smoothly. At CPActuaries, we know how precious your time is, which is why we are pleased to offer comprehensive human resource consulting services to our clients. By utilizing our human resource services to streamline everything from hiring procedures to company payroll to retirement and insurance benefits, you can single-handedly improve your company’s overall effectiveness while saving time and money.
Whether you want an alternative to an in-house human resource department or you are looking for consulting services and support for your existing department, CPActuaries has what you need. We will work one-on-one with you to develop a plan that will best fit the infrastructure you already have in place. Once a new plan has been implemented, we help you maintain those human resource services. Our organization employs a team of dedicated experts in the field of human resource consulting. Any question you may have regarding human resources, we can answer. Best of all, our professionals are on-call for you 24-hours a day, 7 days a week. Helping you take care of your employees is our priority.
Why waste time trying to master a new set of rules? Let CPActuaries, the leader in human resource consulting services, take care of all of those needs. That way you can put your time and energy back where it needs to be: on running your business.
Insurance Price Quotes
How can i find the human resources phone number to a company i used to work for, if they are refusing to give?
Y asked:
it to me? as an employee am i not entitled to the human resources number? it is not on the company’s website either.
Free Insurance Quotes
it to me? as an employee am i not entitled to the human resources number? it is not on the company’s website either.
Free Insurance Quotes
What is the purpose of Human Resources within firms?
metalikidd7 asked:
I’m becoming more and more interested in finding a job in human resources. However, i’m not to keen on the details of the job. I know it has a lot to do with recruiting. Can anyone give me a detailed description of Human Resources do? Thanks.
Insurance Price Quotes
I’m becoming more and more interested in finding a job in human resources. However, i’m not to keen on the details of the job. I know it has a lot to do with recruiting. Can anyone give me a detailed description of Human Resources do? Thanks.
Insurance Price Quotes
What is the best way to break into Human Resources and get a job?
Cornelius S asked:
I have a JD but never really practiced. I was looking at a certificate program in Human Resources online offered through Cornell University. It is only 6 months.
I have a JD but never really practiced. I was looking at a certificate program in Human Resources online offered through Cornell University. It is only 6 months.
What certificates do I need? How do I begin? What about recruiters?
Free Insurance Quotes
How to do research on the internet for the economy AND human resources of an automobile company?
cshong1987 asked:
I’m doing research on economy and human resources on Honda. I tried to use google for doing the research but hard to search for the website which contain suitable information.
Insurance Quotes
I’m doing research on economy and human resources on Honda. I tried to use google for doing the research but hard to search for the website which contain suitable information.
Insurance Quotes
How do I start in Human Resources without experience and a degree in sociology?
Christy n asked:
Almost all the jobs in Human Resources require experience so how do you get a job in HR with no experience in that field when your degree is in sociology? Is it possible? Would you need to take HR classes? I have worked in a bank for four and a half years so would a bank accept you for an HR job?
Car Insurance Quotes
Almost all the jobs in Human Resources require experience so how do you get a job in HR with no experience in that field when your degree is in sociology? Is it possible? Would you need to take HR classes? I have worked in a bank for four and a half years so would a bank accept you for an HR job?
Car Insurance Quotes