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    Retention of Talent

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    Santosh Bagwe
    This document discusses employee retention, including the opportunities and challenges of retention. It defines retention as keeping good employees at an organization. Common retention strategies mentioned include having competitive compensation and benefits, opportunities for growth, a supportive culture, and clear expectations. The document also discusses why employees may leave, such as for higher pay or education. It provides a formula for calculating attrition and discusses applying the BCG matrix to analyze critical jobs and employee performance to determine retention priorities. Finally, it discusses using motivational theories like ERG theory and Maslow's hierarchy to inform different retention strategies.

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    Retention of Talent

    Uploaded by

    Santosh Bagwe
    499 views18 pages
    This document discusses employee retention, including the opportunities and challenges of retention. It defines retention as keeping good employees at an organization. Common retention strategies mentioned include having competitive compensation and benefits, opportunities for growth, a supportive culture, and clear expectations. The document also discusses why employees may leave, such as for higher pay or education. It provides a formula for calculating attrition and discusses applying the BCG matrix to analyze critical jobs and employee performance to determine retention priorities. Finally, it discusses using motivational theories like ERG theory and Maslow's hierarchy to inform different retention strategies.

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    Using Strategic Management for Retention of Talen

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    This document discusses employee retention, including the opportunities and challenges of retention. It defines retention as keeping good employees at an organization. Common retention strategies mentioned include having competitive compensation and benefits, opportunities for growth, a supportive culture, and clear expectations. The document also discusses why employees may leave, such as for higher pay or education. It provides a formula for calculating attrition and discusses applying the BCG matrix to analyze critical jobs and employee performance to determine retention priorities. Finally, it discusses using motivational theories like ERG theory and Maslow's hierarchy to inform different retention strategies.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    499 views18 pages

    Retention of Talent

    Uploaded by

    Santosh Bagwe
    This document discusses employee retention, including the opportunities and challenges of retention. It defines retention as keeping good employees at an organization. Common retention strategies mentioned include having competitive compensation and benefits, opportunities for growth, a supportive culture, and clear expectations. The document also discusses why employees may leave, such as for higher pay or education. It provides a formula for calculating attrition and discusses applying the BCG matrix to analyze critical jobs and employee performance to determine retention priorities. Finally, it discusses using motivational theories like ERG theory and Maslow's hierarchy to inform different retention strategies.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 18

    Retention of Talent

    Opportunity and Challenges

    By
    Santosh Bagwe
    What is Retention?
    • Employee retention? You mean stopping people
    from leaving this organization?’
    • ‘Employee retention is all about keeping good
    people.’
    • ‘Getting our compensation and benefits into
    line with the marketplace.’
    • ‘Stock options, creche facilities, and other
    perks.’
    • ‘It’s got to do with our culture and how we
    treat people.’
    Why employees move?
    • No growth opportunity/lack of promotion
    • For higher salary
    • For higher education
    • Misguidance by the company
    • Policies and procedures are not conducive
    • No personal life
    • Physical strains
    • Uneasy relationship with peers or managers
    Retention Strategies
    • Hiring right talent
    • Communication
    • Set clear expectation
    • Proper Rewarding
    • Build high degree of recognition
    • Reducing bureaucratic rewards system
    How is Attrition calculated?
    Attrition = Number of employees left
    ----------------------------------- X 100
    Total Manpower
    DID YOU SEE ANYTHING GREAT IN
    WHAT I SAID?
    • Because my boss is aware about these so
    called retention strategies

    • So what next?
    IS THIS A RIGHT FORMULA?

    DOES IT MEAN I HAVE TO RETAIN ALL


    THE EMPLOYEES ?
    • Then What?
    • Step I – Analyze job market v/s my
    employees
    – The objective is to find out which positions
    are critical for the business
    Applying BCG Matrix for Job
    Evaluation

    DEAD WOOD CASH COW


    eht f o
    r e wopna M

    PROBLEM
    CHILD STAR
    ytili bali av A

    Relative Importance of the position for


    the business
    • Step 2 - Analyze criticality of the
    positions v/s performance of the
    employees

    – The objective is to decide whom to retain


    Applying BCG Matrix for
    Performance Evaluation
    Relative Importance of the
    position for the business

    PROBLEM CHILD
    STAR

    DEAD WOOD CASH COW

    Performance of the Employee


    • Step 3 – The attrition formula derived from
    Step 1 & 2

    – The objective is to measure the real impact


    of attrition on the business
    Factor for Attrition
    Parameters Job Evaluation Performance
    Matrix Evaluation
    STAR 2 2

    CASH COW 1.5 1.5

    PROBLEM 1 1
    CHILD
    DEADWOOD .5 0
    • Step 4 – Deciding retention strategies
    Application of Motivational Theories

    MATRIX THEORIES
    STAR •ERG THEORY
    •MASLOW’S THEORY

    CASH COW TWO-FACTOR THEORY

    PROBLEM CHILD •ERG THEORY


    •MASLOW’S THEORY
    DEADWOOD BASIC 3 LEVELS OF MASLOW’S
    THEORY
    • THANK YOU

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