Five main reasons why employees leave
"It doesn't feel
good Employee
Retention Grant Scheme
The purpose of the Employee Retention Grant
Scheme is to assist employers to retain employees who acquire an illness,
condition or impairment which impacts on their ability to carry out their job.
It helps to explore the employees continuing capacity to operate as productive
members of the workforce.
This scheme assists in maintaining the
employability of the employee when s/he acquires an illness, condition or
impairment (occupational or otherwise) by providing funding to:
· Identify accommodation and/or training to
enable the employee to remain in his/her current position; or
· Re-train the employee so that s/he can take up
another position within the company.
The scheme is Structured in 2 stages according
to the development and implementation of a retention strategy.
Scheme Structure
Stage 1 facilitates employers by enabling them to buy-in external
specialist skills and knowledge needed to develop an individualised ‘retention
strategy’ for the employee who acquires a disability.
Stage 2 provides funding to the employer towards the implementation
of the written retention strategy, including re-training, job coaching and/or
hiring of an external co-ordinator to oversee and manage its implementation.
Eligibility
The Employee Retention Grant Scheme is open to
all companies in the private sector. Funding is available to support the
retention of any existing employee, at all levels and occupations within the
company, who acquires an illness, condition or impairment which impacts on
their current ability to do their job.
Funding & Application
Stage 1 – Development of the Retention
Strategy
Funding of 90% of eligible programme costs is
available to companies up to a maximum of 2,500 towards the development of a
retention strategy for any 1 employee. Download Stage I Form.
Stage 2 – Implementation of the Retention
Strategy
Funding of 90% of eligible programme costs is
available to companies up to a maximum of €12,500 towards the implementation of
a retention strategy for any 1 employee. Funding for the specialist personnel
is limited to a set number of hours and, application may not be made without
the support of an individualised retention strategy (refer to Stage 1).
What is an Organization ?
A
set up where individuals come together and work in unison to achieve a common
goal is called as organization. Individuals working together in an organization
to earn their bread and butter as well as make profits are called employees.
Employees are the lifeline of an organization and contribute effectively to its
successful running and profit making.
An
organization can’t survive if the employees are not serious about it and are
more concerned about their personal interests.
What is Employee Retention ?
Employee retention refers to the various policies and practices
which let the employees stick to an organization for a longer period of time. Every organization invests time and money to
groom a new joinee, make him a corporate ready material and bring him at par
with the existing employees. The organization is completely at loss when the
employees leave their job once they are fully trained. Employee retention takes
into account the various measures taken so that an individual stays in an
organization for the maximum period of time.
Why do Employees Leave ?
Research says that most of the employees leave an organization out
of frustration and constant friction with their superiors or other team members. In some cases low salary, lack of growth
prospects and motivation compel an employee to look for a change. The
management must try its level best to retain those employees who are really
important for the system and are known to be effective contributors.
It
is the responsibility of the line managers as well as the management to ensure
that the employees are satisfied with their roles and responsibilities and the
job is offering them a new challenge and learning every day.
Let us understand the concept of employee retention with the help
of an example:
Misha
was a talented employee who delivered her best and completed all her work
within the desired time frame. Her work lacked errors and was always found to
be innovative and thought provoking. She never interfered in anybody else’s
work and stayed away from unnecessary gossips and rumours. She avoided
loitering around at the workplace, was serious about her work and no doubts her
performance was always appreciable. Greg, her immediate boss never really liked
Misha and considered her as his biggest threat at the workplace. He left no
stone unturned to insult and demotivate Misha. Soon, Misha got fed up with Greg
and decided to move on.
Situation
1 - The HR did not make any efforts to retain Misha and accepted her
resignation.
Situation
2 - The HR immediately intervened and discussed the several issues which
prompted Misha to think for a change. They tried their level best to convince
Misha and even appointed a new boss to make the things better for her.
Situation
1 would most likely leave the organization in the lurch. It is not easy to find
an employee who gels well with the system and understands the work. Hiring an
employee, training him and making him fit to work in an organization incur huge
costs and thus sincere efforts must be made to retain the employee. Every
problem has a solution and the management must probe into the exact reasons of
an employee’s displeasure. Employees sticking to an organization for a longer
time tend to know the organization better and develop a feeling of attachment
towards it. The employees who stay for a longer duration are familiar with the
company policies, guidelines as well as rules and regulations and thus can
contribute more effectively than individuals who come and go.
Employee retention techniques go a long way in motivating the
employees for them to enjoy their work and avoid changing jobs frequently.
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