Employee attrition or attraction

The process of attrition or attraction. It is all up to you!

The work of the classic economist Adam Smith is studied in many universities. And yet when it comes to motivation, no one seems to be talking about the idea that work is for the sake of what you get out of it. This applies to both workers and managers. At some point or another in our career, we may have experienced how motivational factors can change between attracting and attrition.

We can, however, bring this reverse to the workplace and turn it into positive. Motivational tools based on motivation theories can be designed. In other words, we can design our jobs so as to make them more attractive than they are now and find ways to retain employees.

What strategies can employers use to retain employees?
How to retain employees? 

Some say that employee retention is about the work. Others believe it’s about the people. Your work matters. One of the most common reasons employees give for leaving is feeling under-challenged or unchallenged. Focusing on opportunities to grow and learn will help you retain employees who might otherwise leave. Your people matter. It’s not just about what you’re offering- it’s also about the experience your employees have at your company. Talk with your employees, find out what they like and what they don’t like, and make changes accordingly.

 It’s hard to leave for a new opportunity if you feel like you’re valued. Know how to communicate effectively with your manager.  It’s not always about the pay cheque. Sure, pay is important. But in order to keep your employees happy, you’ll need to ask yourself if they’re getting what they want out of their time at work. If the answer is no, then you’ll need to start thinking about how you can change that. Because when your employees are happy, they’re more likely to stay.

Employees are the backbone of any organization. The better you take care of them, the lower your turnover rates will be. The easier it is for you to maintain your supply of employees. The more likely you are to be able to find qualified people to take on positions in the future.

The challenge for employers is to keep employees satisfied in their job. This can be done with a variety of benefits, in order to keep them from becoming restless. 

One way they can do this is by making sure they are able to take time off for family. They also need to continue to offer work flexibility so people are able to have fulfilling personal lives.

Why Attracting & Retaining Employees is Critical

Attrition may accelerate, as people are willing to quit without another job lined up.

The number one reason for employees to leave their organization is because they believe there is a better opportunity elsewhere. This is why it is critical for employers to understand the various factors that contribute to employee retention. For many organizations, retention begins with attracting and retaining employees. This includes providing a competitive salary and benefits package, and not overworking their staff. It is important to create and maintain a family friendly environment. It provides opportunities for growth and development. Organizations can also provide flexibility and allow for an employee’s personal needs. Although these strategies won’t guarantee that an employee will never leave, they can help to keep employees with your organization for as long as possible.

Strategies for Retaining Talent

Employers have the tendency to forget one of the most important things about their employees, they are people. A lot of organizations have lost good employees because they don’t know how to deal with the human side of the workforce. Here are some strategies for retaining employees.

Work-life balance 

Having work-life balance is one of the most important things to an employee. Employers need to respect the time they spend at home. Pursuing their interests outside work, or even taking off time that they need to take care of their mental health. 

The most effective way to balance work and life is for employers to keep their expectations reasonable.  If an employer has unrealistic expectations, then this will lead to an employee who is unhappy and unproductive. Employers should also offer work-life balance programs such as time off and flexible working hours. 

 To keep their expectations reasonable, employers can allow an after-work schedule. It has to be work-friendly, offer frequent feedback on employees’ performance  and provide a work environment that encourages personal and professional development.

There is no evidence that job design makes you happy unless it works for your well-being at least. If not, its success shouldn’t be evaluated in terms of whether people like them or not.

So, before you start designing your job, attractive ones try to figure out what makes people feel good about their work. What are they interested in? What are their motivations? There are many reasons people work for a company, so find out what motivates them to excel.

Strategies for Attracting Talent

 Employers should use a variety of strategies to keep employees engaged and happy to keep them from looking for a new job. Strategies for employers to retain employees include:

  1.  Implement a robust employee referral program
  2. Allow remote work
  3. Provide a company-sponsored continuing education program
  4. Offer employees tuition reimbursement for courses taken from
  5.  the company’s partner Universities
  6. Increase wages
  7. Employers can also offer a competitive paid time off program that includes Family and Medical Leave, Sick Leave, and Bereavement Leave
  8. Make sure that employees are engaged through company-sponsored outings or community service opportunities
  9. Offer flexible work schedules
  10. Provide flexible work arrangements, such as a compressed work week, telecommuting and     remote work

As discussed above, motivation plays a key role in determining success or failure in business. This article provides some insights about how you can apply different types of motivation techniques to your organization’s workforce. Hopefully, after reading this post, you’ll have a clearer idea of what kind of motivation strategies work for which situations to retain employees. 

Reference: Graphs and other references can be found at McKinsey & Company

Suresh GP, M-Tech is currently the Founder & Managing Director of TaUB Solutions. He has more than 20+ Years of IT experience and specialized in IT Service Management, IT Governance, Agile, DevOps and Business Relationship Management. Suresh as a Principal Consultant does Consulting, Training, Simulations and Implementation services for DevOps to Fortune 2000 organization

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