Retention Initiatives To Keep An Effective Workforce Intact

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The corporate world has undergone many rapid changes in the past couple of years. The impact of global economy and various other industry trends across various countries have lead to a steady change in the workforce management structure in recent times. The recruitment process, attracting top notch talent and structuring an advanced hiring process have been quite challenging in recent times. But the struggle does not end there. The major task comes after that. The retention of the talent is one of the crucial needs for businesses to succeed and achieve their goals in the long run. But now days, just a fat pay check and a higher designation are not enough to interest a candidate into the selection process. There are lot more benefits which are often looked upon by them. Hence, there are some top retention policies followed by brands for maintaining an effective workforce.

  • We all know that first impression counts. This holds well in both ways, for the new employee as well as the employer. The on boarding process is the initial step which strikes the first impression of the employer for the candidate. Instead of plain old documentation and program briefing, a proper introduction to the work culture and the team with which the resource will work, is a good way to create a perfect image. A mentorship program associated with it is also helpful as it aids in clearing out initial doubts regarding the job role and functionalities.
  • Corporate culture is the second most important initiative in this regard. The compensation system should be logical and at par with industry standards. If proper compensation levels are maintained, it creates a positive image in the market and industry that attracts and retains talent. Rewards and recognition also forms a significant portion of this initiative as it builds up motivation and trust. Apart from monetary matters, provision for work life balance and a creative work environment goes a long way towards retaining talent.
  • Employee communication is crucial towards maintaining a healthy relationship between the workforce and the management. Communication between the team members as well as other teams helps in effective knowledge sharing which improves productivity to a great extent. A proper feedback system which helps in putting forth employee suggestion to the management and a systematic revert back from the authorities creates a positive and well informed work culture. It helps the employees to understand the company growth in relation to their own career growth.
  • The last initiative is more inclined towards research of problematic areas. The HR segment should evaluate the retention strategies by monitoring the work culture, training and development sessions and other work environment related segments. This helps in identifying the areas of concern or lacking which can be fixed with proper measures.

The retention policies are a part of going process that need to be updated with passing time and changing trends as the need for employment changes frequently in recent times.

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Corporate Culture – The Best Practices Within A Company

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The corporate environment in recent years has been influenced by a number of factors. The management of workforce taking in to consideration a number of minute elements, keeping the HR policies up to date, developing a proper communication channel and much more is involved in the smooth running of a business. The management needs to take care of every aspect with utmost care and planning in order to achieve long term business goals and manage short term crisis effectively. The corporate culture is the base line of this management agenda. It involves all aspects of human resource management keeping the business strategies in place. Hence certain measures are crucial towards building an effective corporate culture.

  • Promotion of transparency through modern day communication tools and platforms is the first step towards this initiative. Conveying the business goals to the employees and showcasing their contribution to the bigger picture creates a positive work attitude which enhances company culture. Social media has taken over every aspect of corporate environment. It can be effectively used for creating a brand image within the company as well. New project management tools like Trello, Jira and Asana along with new age collaboration mediums such as HipChat, Yammer and such like build up an overall platform for integrated workforce and business development. An HR consultancy can be effective towards selection and implementation of such tools in an organized and cost effective manner.
  • The recognition of the employees to be channelized at team level. Often it is seen that companies emphasize on rewards and recognition coming in from senior management. However, it can come in from peers, team leaders and others. It has been observed that this type of recognition has a greater impact towards boosting employee morale which is beneficial for corporate culture.
  • Building up the strong bond between co-workers is one of the most effective methods of building corporate culture. Often it is one the most neglected as well. For the communication and performance within a team to be effective, it is necessary that the team members connect to their mangers in a useful manner. Small team gatherings which discuss new ideas in a fun and motivating manner as well as provision to communicate face to face in case of some work related barriers helps in breaking the ice between co-workers.
  • Creating an organizational structure wherein an employee can reach to out to immediate managers instead of being micromanaged by senior management is crucial for promoting flexibility within the work environment. This helps in reducing unnecessary tension within the employees promoting a healthy corporate environment by keeping the provision of flexibility.
  • Modern communication tools can be very effective towards keeping a healthy work life balance without chaining the employee to the desk. Many times due to global operations, employees need to communicate between different geographies which goes beyond the office timings. In such cases, there should be provision to take calls from home or work through cloud computing.

The corporate culture is the building block to all other elements within an organization. It should be handled with logical planning and execution to support business goals.