A recent survey of human resource managers shows that employee turnover remains one of the most critical workplace issues. Sixty percent say that skilled-person power is "scarce". Forty six percent say that worker retention is a "very serious" issue and another 28 percent believe it to be "serious".
Companies that take the problem seriously and implement programs to ensure employee satisfaction have the highest retention rates. "Show me the money" is not the singular solution. While bonuses, stock-options, and flextime are appreciated, what employees really want is some assurance of continued employability. Here are the most popular worker retention strategies:
78% conferences and seminars
67% tuition reimbursement
67% managerial training
58% pay for performance
57% interpersonal skills training
55% technical training
Five of the top seven areas are all related to learning. Today's workforce recognizes the value of continual personal improvement as a way to assure steady employability. Yet many companies still find it easier to throw pay increases at the problem rather than take a long-term view.
A recent study of 4000 professional and clerical workers found that job satisfaction keeps more workers than pay levels alone. The survey found that only 6% of people who were satisfied with their jobs but unhappy with their pay plan to quit. The percentage jumps to 27% when they were dissatisfied with their jobs but happy with their pay! If they were unhappy with both their pay and job situation, the percentage of those ready to bail jumped to 41%!
The challenge: what makes for satisfaction? The answer: opportunity for career development through education, meaningful work and appreciation, 360 degrees of communication, consistent performance expectations and consistent accountability, and work/life balance.
Pay is easier and quicker. Creating a culture for satisfaction takes time, prompts internal analysis, and leaves long-term positive results on the bottom line. Don't tie pay increases to only rank and power. Work at getting away from the notion that you have to move up to make more. Remember that front line people hold customers in their hands. Shouldn't they be among the most well-trained and well-paid people on your staff? Reward people for what they know and do, not how long they've been on the job or how many people they supervise.
Consider other forms of "pay" as a way for retaining employees. One software firm offers an unusual work benefit: a monthly maid service to clean employees' homes. This service differentiates this firm from the competition and gets employees' families involved and excited about the company. There's no co-pay and the only requirement is that the benefit is only available to employees who have been with the company for at least three years. Another benefit for employees who stay for three years is a $1200 vacation bonus.
Here's another point to consider: life trumps money! Workers are stretched to the max. People are no longer willing to rent themselves to their jobs to survive to the weekend. Find ways to reward employees with the gift of time. Clothing retailer Eddie Bauer gives employees paid "balance days" to attend family or personal business. An ad agency has a limited number of "duvet days" for those times when an employee just plain needs to stay home and rest. Many companies are switching from sick, vacation and personal days to "paid time-off banks". Employees can draw for whatever reason they choose.
As we move into the next decade, labor shortages will plague employers. There's an unprecedented opportunity for people to claim what they want in a work environment. Creative recruiting and retention strategies will take an organization just so far. The subtle but powerful difference will be in the unspoken bond between employee and employer based upon mutual respect and trust. Put relationships in order, cultivate talent, and respect differences through action and not just slogans. THEN the strategies can really take hold.
An action plan template can be defined as a document that specifies what steps are to be taken for achieving specific goals. The action plans are necessary not just for individuals but for the entire business organization as well. It contains all the essential details regarding the steps to be taken for the attainment of a single goal or many goals. It acts as a tool for effective and efficient planning for growth of the organization and its overall development as well.
Sales and marketing plan template - for designing a sales plan, the organization can use the word document. This will help the business by giving it a structured approach and will make the promotion and selling process in an inexpensive way and at a very high rate. It will be easy to make, and the marketing plan would be the best for gaining the maximum attention of customers.
Printable templates - it is always better to have the plan in the printed type as because in this way it will be easier for the responsible authorities to check if the progress of the company is going according to the action plan template. Since it is in printable form, they can effectively see the sales history of the past, analyze the present market situations, assume the power of the competitors and then check the actual performance of the company in comparison to the printed action plan template.
Template in PDF format - by making it in the PDF format the company owners can be sure about is safety and they can be assured that they have a backup of the original action plan template.
Excel format action plan template - by using this type, they can do all the necessary calculations and can also use graphs, and flow charts in preparing the action plan template.
Use of these Templates -
• It is useful because it gives a direction to the business organization.
• It acts like a perfect guideline for achieving individual as well as organizational goals.
• Action plan templates are useful for employees and employers both as they can understand what are their responsibilities and what work they are expected to perform.
• It is useful as it defines the lines of authority, responsibility, and states who is accountable to whom.
Purpose of Using-
• To clarify the resources, that will be required for attaining the goals.
• To set timelines for tasks and setting deadlines.
• To allocate various tasks to the employees according to their potential, knowledge and skills.
• Helps in optimum consumption of the resources and helps to avoid wastage.
• Helps in predicting the risks and threats in advance and to take timely actions and solutions for them.
• To find a strategy that works for the business and using it again in future for achieving goals.
• To meet the deadlines on time and completion of tasks well before time.
How to create?
The action plan template is created by the top level or the upper-level authorities. The steps are given below define how the action plan template is designed-
1. Identifying goals - the first and the most essential thing is to have a clear picture of the objectives that have to be achieved. These goals should be challenging yet motivating for the employees. The goals should be specific, realistic and attainable. They should not be demoralizing or stressful.
2. Collect data - collect all the information data that will be required to make an effective action plan template. Keep in mind the current deficiencies and standing of the organization. Identify the strengths and weaknesses as well in the several departments or areas of the organizations.
3. Make action plan template - finally; design the template by using all the information collected in the previous steps. Make sure that the plan has clearly defined directions of work, tasks and deadlines.
4. Allocate the task - once the action plan is made completely; share it with all those who will be responsible for completing the tasks stated in it. This step may also involve training and skill improvement of the employees.
5. Measure the effectiveness - once the plan is taken in action, the authorities have to check if the employees are following the plans and tasks assigned to them properly. If there are any shortcomings, then the management has to take the necessary steps to dissolve them.
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