The art of retaining good employees

It has been said time and again by management experts that an organization’s greatest asset is its people. Even technological innovation takes a backseat in terms of importance, because technology is after all created by people.

When it is understood that it is people who make or break organizations, organizations should do everything they can to retain people. Retention of this most important resource should be the greatest priority. But why is it that people still keep leaving organizations? A higher pay may be a factor, but there are other reasons for which they leave.

First, understand

The most important element that HR has to understand is the set of reasons for which people leave organizations. Organizations that are serious about growing should realize why this is so, and should do their best to keep talent. Unfortunately, most top brass of organizations don’t realize this, a fact borne out time and again by authoritative surveys and studies.

The most important factor which makes people, especially the senior ones, seek greener pastures, is that there is nothing left for them to achieve. When the senior employees get this feeling, it is a reflection of bad hiring practice, because it follows that the senior managers were not properly apprised of the requirements for their position, or these requirements changed over time. In either case, it speaks poorly of both management and HR.

Poor handling of resources

It is said that people don’t leave organizations; they leave their managers. This fact sums up the entire situation: people who leave generally act more out of frustration and disgruntlement for their managers than for their organization or job. Management and HR have a crucial role in ensuring that this is not the case, because managers may be important for organizations, but the lower rung is as important. It is they who will hold the organization’s reins in the future. They need to be understood and nurtured. If they leave for reasons such as disappointment with the way they are treated by their seniors, it is time for HR and management to haul the seniors up.

Other factors

While lack of recognition for work done and lack of opportunity for growth are the two most important factors for which people leave, followed by pay; organizations need to look at other factors that make people leave organizations and take steps to correct them. In many organizations, favoritism, partiality and nepotism prevail. In others, poor pay and benefits could be a factor. In some others, strict or rigid working conditions could be the reason for which people leave. In yet others, it could be paucity of transparency by the top management. Any organization’s management that is serious about keeping people should assess where it is lacking. Correcting itself is an imperative if it has to be a competent organization.

References:

http://www.gautamblogs.com/2006/05/10-reasons-why-organizations-are-not.html

http://www.zdnet.com/why-do-good-employees-leave-1139225146/

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