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Employee engagement retention and career management

Employee engagement retention and career management

Employee engagement retention and career management

  1. 1. WELCOME TO OUR PRESENTATION
  2. 2. Presentation On EMPLOYEE ENGAGMENT, RENTION AND MANAGING CAREERS DEPARTMENT OF BBA HUMEN RESOURCE MANAGEMENT MGT3125
  3. 3. EMPLOYEE ENGAGEMENT
  4. 4. CONTENT THAT I AM GOING TO DESCRIBE IN EMPLOYEE ENGAGEMENT  What is employee engagement?  Types Of Employee.  What influenced employee engagement.
  5. 5. What is employee engagement? Employee engagement is a property of the relationship between an organization and its employees.  Belief in the organization.  Desire to work to make things better
  6. 6. What is employee engagement? Cont…  Understanding of business context.  Respectful of, and helpful to, colleagues  Willingness to ‘go the extra mile’  Keeping up to date with developments in the field.
  7. 7. What is employee engagement? Cont… Engagement is the energy, passion, or ‘fire in the belly’ employees have for their employer.
  8. 8. Types of employee? According to Hocky(2000) people adapt to the demands of work in three ways: Engagement Disengagement Strain
  9. 9. Types of employee? Cont… Engagement working harder and deriving satisfaction Disengagement giving up and feeling bad about it
  10. 10. Types of employee? Cont… Strain working harder but with labor and attention
  11. 11. Employee Engagement Is Influenced By:  Employee perceptions of job importance.  Employee clarity of job expectations.  Career advancement/improvement opportunities  Regular feedback and dialogue with superiors  Quality of working relationships with peers, superiors, and subordinates
  12. 12. CONTENT THAT I AM GOING TO DESCRIBE IN EMPLOYEE ENGAGEMENT  Why does it matter?  Types of Engagement Activities.  Importance of employee engagement.
  13. 13. Why does it matter? COMPANIES WITH HIGH EMPLOYEE ENGAGEMENT SAW  13.2% IMPROVEMENT IN NET INCOME GROWTH.  19.2% IMPROVEMENT IN OPERATING INCOME.  27.8% IMPROVEMENT IN EARNINGS PER SHARE Employee engagement Business performance ( S o u r c e : I S R . 6 6 4 , 0 0 0 e m p l o y e e wo r l d wi d e , o n e - y e a r s t u d y, 2 0 0 6 . )
  14. 14. Why does it matter? Cont… COMPANIES WITH LOW EMPLOYEE ENGAGEMENT SAW  3.8% DECLINE IN NET INCOME .  32.7% DECLINE IN NET INCOME GROWTH.  11.2% DECLINE IN EPS. ( S o u r c e : I S R . 6 6 4 , 0 0 0 e m p l o y e e wo r l d wi d e , o n e - y e a r s t u d y, 2 0 0 6 . )
  15. 15. Why does it matter? Cont… Engaged employees:  Perform up to 20% batter than less engaged employees  Are 87% less likely to leave the organization than employees with low levels of engagement. ( S o u r c e : C L C . 5 0 , 0 0 0 e m p l o y e e s wo r l d wi d e , 2 0 0 4 )
  16. 16. Why does it matter? Cont… Engaged employees:  Are more innovative.  Are more committed to customer satisfaction.  Contribute more to their organization than less engaged people.
  17. 17. Types of engagement activities  Communication activities  Reward schemes  Activities to build the culture of the organization  Team building activities  Leadership development activities
  18. 18. Importance of employee engagement  employee engagement can help cause marketing.  better engagement means better productivity.  engaged employees are less likely to quit.  engaged employees are positive.
  19. 19. Importance of employee engagement. Cont…  employees feel satisfied when they’re engaged..  engaged employees are better communicators.  engaged employees are more creative.
  20. 20. EMPLOYEE RETENTION WHAT IS EMPLOYEE RETENTION?  represented by a simple statistic  attempt to retain employees
  21. 21. MANAGING EMPLOYEE TURNOVER AND RETENTION  Turnover rate  Employees leave  Firm-varies  Among industries
  22. 22. COST OF TURNOVER  New hire  Training  Lost sales  Job errors MANAGING EMPLOYEE TURNOVER AND RETENTION (Cont…)
  23. 23. MANAGING EMPLOYEE TURNOVER AND RETENTION (Cont…) Managing voluntary turnover  Identifying causes  Dissatisfied  Five Reasons  Promotion  Career development  Pay  Relationship with supervisor  Work-life balance
  24. 24. MANAGING EMPLOYEE TURNOVER AND RETENTION (Cont…) Retention strategies for reducing voluntary turnover The manager Understand Retaining employee Talent management issue Retention strategies Multifunctional
  25. 25. MANAGING EMPLOYEE TURNOVER AND RETENTION (Cont…) A comprehensive approach to retaining employees  Selection  Professional growth  Provide career direction  Meaningful work and ownership of goals  Recognition and rewards  Culture and environment  Promote work—life balance  Acknowledge achievements
  26. 26. A comprehensive approach to retaining employees(Cont…) Selection  Start-up front  The right employees  Fedex  Attitude surveys  Review the results  Address problems  Raise for surveys
  27. 27. PROFESSIONAL GROWTH  Inadequate career  Professional development  Employees to leave  Provide  Training  Career development program  Staying with company As one expert says, “Professionals who feel their company cares about their development and progress are much more likely to stay." A comprehensive approach to retaining employees(Cont…)
  28. 28. A comprehensive approach to retaining employees(Cont…) Provide career direction Discuss with employees Career preferences Prospects Lay-out Potential career plans
  29. 29. A comprehensive approach to retaining employees(Cont…) Meaningful work and ownership of goals  Select the goal  Making it clear  Expectations  Regarding  Performance  Responsibilities
  30. 30. A comprehensive approach to retaining employees(Cont…) Recognition and rewards  Pay  Benefits  Need  Appreciate  Well-done
  31. 31. A comprehensive approach to retaining employees(Cont…) Culture and environment Employee feel comfortable Satisfied
  32. 32. A comprehensive approach to retaining employees(Cont…) Promote work—life balance  Identified  Two top benefits  Flexible work arrangements  Telecommuting  Encourage  Choose job
  33. 33. A comprehensive approach to retaining employees(Cont…) Acknowledge achievements  Feel underappreciated  Likely to leave  Surveys  Frequent recognition  Accomplishments  Effective  Nonmonetary reward
  34. 34. Employee Retention Policy
  35. 35. There are different factors which affect employee retention  JOB SATISFACTION  OFFICE CULTURE  UNDERSTAND EMPLOYEE FINANCIAL PROBLEMS  UNDERSTAND EMPLOYEE EXPECTATIONS FROM EMPLOYER  UNDERSTAND COMPETITIVE EMPLOYERS  UNDERSTAND EMPLOYEE STRENGTH AND WEAKNESS
  36. 36. For Employee retention Employer need to work on  Effective performance review  Talk employees periodically and get their feedback  Motivate them  Give them recognition  Financial rewards  Arrange training for new trends in market  Offer Health insurance for employees and their family  Offer official paid time out so that they can spend quality time with family
  37. 37.  Arrange wellness programs  Arrange official party for employees and their family  Offer gift coupon/package on special occasion  Arrange interesting events in Office  Arrange picnic or interesting events outside the office  Subscribe city events and offer to employees For Employee retention Employer need to work on (Cont….)
  38. 38.  Offer gym in office  Provide best infrastructure in office  Offer food facility in office  Offer long term association bonus to employees  Make sure employee maintain good relationship with boss/peers  Arrange exit interview and try to understand exit reasons For Employee retention Employer need to work on (cont….)
  39. 39. CAREER MANAGEMENT
  40. 40. WHAT IS CAREER MANAGEMENT?  It is a conscious planning of one’s Activates and Engagements.  Growth and financial stability.
  41. 41. MANAGING CAREERS  The employee's role in career management  Career planning workshops  Provide career coaches  Offer online programs  Career oriented appraisals  Gender issues in career development
  42. 42. The employee's role in career management  Guide line of employee’s careers. (Cont.)
  43. 43. Career planning workshops  Self-assessment exercises, skills, interests, values. (Cont.)
  44. 44. Provide career coaches  Identify development needs and training, networking opportunities. (Cont.)
  45. 45. Offer online programs  Career path and other information, developmental activities around the employees needs. (Cont.)
  46. 46. Career oriented appraisals  Performance career interest and developmental needs into coherent career plan. (Cont.)
  47. 47. Gender issues in career development  Women and men has equal development (Cont.)
  48. 48. THE MANAGERS ROLE IN CAREER DEVELOPMENT IN ORDER TO DO THAT, ACCORDING TO DRUCKER, MANAGERS NEED TO PERFORM FIVE FUNCTIONS: 1.SET OBJECTIVES 2.ORGANIZE TASKS 3.MOTIVATE AND COMMUNICATE 4.ESTABLISH TARGETS AND YARDSTICKS 5.DEVELOP PEOPLE
  49. 49. Set Objective  Established the goals. (Cont.)
  50. 50. Organize tasks  Right roles for the right people. (Cont.)
  51. 51. Motivate and communicate  Motivate the employees and communicate with others. (Cont.)
  52. 52. Establish targets and yardsticks  Ensure the firm is moving in the right direction. (Cont.)
  53. 53. Develop people  Through finding and training. (Cont.)
  54. 54. Name: RuksanaAkter Shammi Id:2013210000224 Batch: 35
  55. 55. IMPROVING COACHING SKILLS BUILDING YOUR COACHING SKILLS BUILDING YOUR MENTORING SKILLS
  56. 56. IMPROVING COACHING SKILLS Cont… Building your coaching skills: Coaching and mentoring require both analytical and interpersonal skills.
  57. 57. IMPROVING COACHING SKILLS Cont… Building your mentoring skills: Mentoring traditionally means having experienced senior people advising, counseling, and guiding employees’ longer-term career development.
  58. 58. DECISION 1: DECISION 2: DECISION 3: DECISION 4:  SOURCE OF BIAS IN PROMOTION DEMOTION  MANAGING TRANSFER  MANAGING RETIREMENTS MAKING PROMOTION DECISION
  59. 59. MAKING PROMOTION DECISION Cont… Decision 1: is seniority or competence the rule? Probably the most important decision is whether to base promotion on seniority or competence, or some combination of the two. Decision2:how should we measure competence? That defining and measuring past performance is relatively straightforward, but promotions should require something more. you also need a valid procedure for predicting the candidate’s future performance.
  60. 60. MAKING PROMOTION DECISION Cont… decision 3:is the process formal or informal? Many firms have informer promotion process. They may or may not post open positions and key managers may use their own “unpublished “criteria’s to make decisions. decision 4: vertical, horizontal or other? Several options are available. Organization have think about it that is the promotion should be vertical, horizontal or other.
  61. 61. MAKING PROMOTION DECISION Cont… source of bias in promotion demotion: Women and people of color still experience relatively less career progress in organizations, and bias and more subtle barriers are often the cause. , the bottom line seems to be that whether it’s bias or some other reason, barriers still exist. Employers and supervisors need to identify and abolish them.
  62. 62. MAKING PROMOTION DECISION Cont… managing transfer: Employers may transfer a worker to vacate a position where he or she is no longer needed, to fill one where he or she is needed, or more generally to find a better fit for the employee within the firm.
  63. 63. BENEFITS TO THE ORGANIZATION  Staffing inventories  Staffing from within  Peter principle  Solving stuffing problems
  64. 64. BENEFITS TO THE ORGANIZATION Cont…  Satisfying employee needs  Enhanced motivation  Employment equity

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