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Managing Retention - Case Study Example

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Employee Retention Strategies Introduction Organizations experiencing high employee turnover also experiences difficulty in achieving its organizational objectives. A tough competitor might not hurt businesses that much as do the high employee turnover…
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Managing Retention
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"Managing Retention"

Download file to see previous pages Synopsis The secondary data available from the focus group study and survey questionnaires reveals that the major cause of employees leaving Irontown is stress experienced by the employees, whereas unfulfilled expectation of the employees from their designated jobs appears to be the second major cause of high employee turnover. Other reasons of high employee turnover at the Irontown are lack of efficiency in providing a solution to the customers’ problems, dissatisfaction from the salary and benefits package and finding another job opportunity. From the problems mentioned above, Irontown has been successful in identifying the resultant problems such as the inconsistency of training modules and lack of workforce to carry out the operations of the Irontown. Retention Plan Following are the suggestions that will help Irontown to overcome its human resource issues, particularly the high employee turnover rate. 1. Training and Development A good entrepreneur or manager is one who takes special care of his or her employees’ growth plans. This practice helps the employer to gain employees’ loyalty. ...
The first one is aimed at polishing the skills and customer handling abilities of the new recruits and teaches them about the customers’ preferences and behavioral trends. This information can be fetched from the CM software of the company which would give an insight into the customers’ buying trends and the most frequently asked questions. The next training program is for organizational development which should be offered to all the employees, regardless of how much time these employees have spent at Irontown. Again, the CRM software and the information retrieved from there would be helpful in determining customers’ preferences and bringing changes in the promotional pitch that customer care representatives use while talking to a customer (Russo, 2000). The use of these two training modules would help Irontown to improve the usage of CM software, on which the company has already invested a significant amount. Moreover, the issue of inefficiency in customer relationship management would also be resolved by training employees. 2. Revisiting Salary and Compensation Packages Irontown is advised to revisit its salary and compensation packages offered to the employees. By doing this, the company would be able to analyze the salary offered at Irontown against the industry standards. If the salary packages at Irontown are not up to the expectations of employees, than Irontown should raise salaries by increasing the amount of perks given to the employees in addition to the basic salary. In this manner, employees’ financial requirements would be fulfilled and they will gain inner satisfaction from their jobs (Russo, 2000). 3. Rotation Policy Irontown is also advised to introduce a shift rotation policy. This policy would provide every trainee and employer of the company ...Download file to see next pagesRead More
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dareclementine added comment 6 months ago
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I didn’t know how to start my essay. "Managing Retention" helped me out a lot! Especially the list of ideas was valuable.
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