What Leads to Retention at Accenture Consulting - Essay Example

?Helping Consultants Manage Their Own Development and Careers Leads to Retention at Accenture Consulting Accenture consulting has initiated employ development programs which have lead to retention of employees in the organization. The developmental growth of the employees within the organization itself means stability and growth of organization as a whole and the senior employees are well aware of this fact. The senior employees know the benefits of these employee development programs because they have achieved higher positions in the organization because of them. Moreover retention of employees in the organization is very important for success because, while working in an organization, the employees develop a relationship with it and start understanding the organizational needs and objectives, and they are more adapted to the conditions. Moreover senior managers want to train the staff through developmental programs so that the employees can become more productive and training the existing staff is much easier than inducting new staff and training it. E-Learning and the Internet Help Employees Manage Careers and Build Management Talent Cross-functional project and working on assignments that can help in developing certain special skills are the most appealing features of the IBM’s Blue Opportunities. Cross-functional projects can help in developing co-ordination between professionals from different disciplines and departments in the organization. An employee can learn teamwork and the ways through which he can play his part for the successful accomplishment of the project. This can also help employs to identify the specific technical expertise they have which makes their role unique in the organization, resulting in an increase in the confidence level of the individuals. The employees from different departments of the organization can share their ideas and discover new possibilities resulting in an overall growth of the company and increase in the innovation level of the individuals by broadening their thinking beyond their self set limits. Similarly working on assignments across business units helps individuals in identifying certain new possibilities and activities within the organization which can result in development of new skills in employees. Boosting Morale at Home Depot There was an increase in the turnover in Home Depot in 2007 because many of the stores were closed down due to recession in housing market. As a result many well skilled and knowledgeable workers left for other opportunities, which was very harmful for the organization. The Vice President of HR implemented some very useful changes which raised the employees’ morale. These changes included empowerment of the store managers, new employee training and development programs with proper rewards and recognition mechanism. The idea was to make the jobs in the organization more lucrative for the employees as they could grow and learn new skills staying in the organization. The problems are directly related to employee retention and separation because employees are always looking for better opportunities where they can grow. Working Conditions more Stressful than the Battlefield Army recruiting is one of the toughest and most stressful jobs these days because the US is fighting two wars. The working hours for the recruiters are more than other jobs and the target quotas which are assigned them are way beyond their capacity. Moreover they have to face harsh criticism if they are unable to meet the assigned targets, resulting in high stress and depression levels. Most of the recruiters are veterans of war and when they face such criticism they take it very seriously resulting in detrimental stress. Workplace safety is not limited to the physical environment, mental health of employees is very important. The Army should give soldiers better access to mental health care, and more time should be given between combat deployments and recruiting assignments so they have time to re-adjust to society. Toyota takes the Knife to US Labor Costs Permanent Labor Force in a company is the most essential aspect for the company’s progress and stability because while working in an organization the workers develop a relationship with it and start understanding the organizational needs and objectives. They are more adapted to the conditions prevailing in the organization than the new workers would be. Moreover developing skills in the existing staff is much easier than inducting new staff and training it. Considering these facts, the companies are motivated to finding ways for cutting labor costs rather than laying-off their workers because they are an asset for the company. A permanent labor force, which is trained according to the conditions in the company, is essential for progress. What do you make? Job Site Promises Peek at Salaries I would certainly use such a site because it would broaden my knowledge of the job market. Being an employee I am always looking for new possibilities and opportunities through which I can improve myself in terms of salary packages as well as skills development. Such a site would help me finding a better job for me by browsing the information provided by the individuals working in different organizations. Since the information is provided by the company’s employees and not the company itself, it is more reliable and provides a clear picture of the conditions present in certain companies. With all this information I would have more leverage in salary negotiations. Goldman Chiefs Give Up Bonuses For creating fairness in the compensation and benefit decisions for senior managers of financial firms on Wall Street certain steps are to be taken. The most important of which is the role of the Administration and Congress. They will have to consider plans to limit executive pay or at least have some part of it put in escrow to cover potential future losses at the firm. Moreover certain guidelines and rules will have to be established which will govern the mechanism of financial firms taking TARP funds. The government will have to check that whether a company is beneficial for the country’s economy or not before paying the compensation from taxpayer’s money. Executive Pay Hits China’s Radar The high salaries of executives, is a major reason behind the growing disparity in compensation between top management and lower class employees. There is a clear consensus on the importance of CEO compensation relative to the average worker however this has created unrest among the workers who think that the benefits of the progress of the company are not being given to workers and the profits are only shared with the executives. This thinking is very detrimental for the company as it is increasing the stress levels in workers resulting in an overall decrease in the productivity of the company. The solution lies in proper profit sharing with the workers to create a feeling of recognition for their efforts. Read More