Benefits And Benefits Of Employee Retention

866 Words Jul 29th, 2015 4 Pages
Employee Retention: Employees subject to an employer restructuring process may become stressed or distrustful of their employer, its management and their coworkers. Restructuring may cause sudden departures of coworkers and management. Human Resources Management is responsible for convincing remaining employees to stay with the organization. Employee retention efforts may include bonuses, employee training, internal promotion opportunities and improving workplace policies and procedures. Although restructuring resulting from falling profits are unlikely to provide salary increases, such restructuring may provide employees with incentives such as additional time off, flexible work schedules or on-site amenities. Human Resources Management is accountable for researching, recommending and implementing employee retention strategies during restructuring. Compensation Benefits: Human Resources Management is responsible for designing a well-planned compensation system during restructuring that would benefit the employee and the organization. An effective compensation benefit package consist of base compensation which is fixed pay received on a weekly or monthly regular basis; an incentive pay is for job performance; benefit or indirect compensation which include health benefits , vacation, and privileges. Outplacement Services: Emotional support. This service is available to employees to help cope with the emotions of job loss, shock, anger, denial, and lowered…
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