Advantages Of Retention Strategies

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Gone is the age when people sought permanence in every vital facet of life, be it relationships or jobs. With the advent of modern era, there has been a tangible shift from securing permanent things to ascertaining better things. It is a typical human behaviour to have an insatiable hunger for development and betterment. This penchant can be evidently contemplated in the corporate employees, since the corporate world is swamped with a surfeit of jobs and there are ample chances for employees to move from one job to another. In such transient job environment, companies need to prepare themselves well in advance to efficiently and professionally handle the exit of employees.
Various organisations keep strengthening their retention strategies, …show more content…

If you feel that the issues of your employee can be resolved and the employee is worth solving those issues, you shall go to that extra mile to retain him. Finding a counterpart, one step ahead of the existing employee is undoubtedly a hectic and expensive affair. In most cases, a hike or substantial hike might lure the employee back into the job. When offering such benefits, make sure that the employee will stay for long and your relationship will other employees doesn’t decrepitude. Albeit, if the concerns of the employee are inscrutable, it’s in the best interest of everyone to support him in his decision and bid him a dignified adieu.

• Establish a well laid-out resignation process: The employee rulebook/ handbook shall clearly mention the formal procedure for employee resignation. The same shall be patently explained in employee orientation sessions. The employee shall be liable to submit a formal resignation letter to one’s immediate supervisor and an attested copy of that shall be forwarded to human resources department for removing the employee from payroll inventory and completing all other formal procedures as

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