Radiology Employee Retention Plan - Example

Future radiology employee retention plan al affiliation: An employee retention plan shows plan for operating abusiness using the desired techniques. In any firm employee retention is ideal because it minimizes cost spent in hiring and training new employees to the firm. Employee retention is brought up by rewards, purpose of the job among many. A given employer can make an employee retention plan to assist in developing a firm workforce based on long term basis. Numerous employers assume they know what their employees expect as rewards of a job situation. Communicating with the employees can reveal solutions to unresolved problems. An employee retention plan takes into account the desire of employees willing to climb the career ladder. Problem in the company may be as a result of poor employee retention plan. If an employer offers an environment where harbors’ the development of poor working conditions, they will be more willing to retain employees who are willing to work with unpleasant work conditions. The unwilling employees will desert the job and take up another post if a suitable position opens up somewhere. Firms going through hard times should be keen on retention plans especially the high ranks in the post. Employee retention programs happen mostly in bankruptcy cases, mostly with the firms that are restructuring to a new owner or liquidating, this may result to numerous layoffs of employees. The left behind employees are the mostly are the handworkers, those possessing deep skills and are aggressive (Dalton and Clark 2009). Most of the incentives in this kind of retention plan different from other companies. The employees are familiar with the situation that, come next time the wont be with the company. Mostly those who are lid off are given incentives as a reward in recognition of their work in the firm. (Glassis2012). Career growth and development Career development will show how an employer manages their career between organizations structures. Employees are basically in charge of their own posts. Career development will be a good idea because as an employer, it will help me meet the future workforce demands and firms goals. The programs will help me retain qualified personnel. Education and background- the most talented employees who will be attracted to the challenging posts will benefit from training goals. Management will identify and recommend high performing employees for a career growth. Managers will be required to spend part of their time in coaching the staff members. Managers will also help in promoting good performers to new positions while reducing low quality performance. Promotion within at the company will also be done by the manager. This will give the staff clear path advancement. The staff will be more aggressive and will stop the notion that there is no clear future for them in the company. Organization size: 10 employees Program/initiative description. The firm budgets money annually for the 10 employees to attend par time or additional studies. The aim if for the employer will be to acquire extra knowledge and learn more about their specific posts. Employer will pay for their education and reimbursed after they apply the information to the company. Staff must teach other of what they have learned. Program will start from 2020-2022 Major objectives The major objective will be to increase the employee skills and knowledge. Reduce time wasted on unemployment and replacement labor costs. To increase productivity output of the firm Improve employee retention To reduce productivity costs To help in achieving the employer objectives To minimize negative exposure to the society in case there are layoffs Significant results Several employees have taken the role of this opportunity in the past years, most of them have appreciated the chances to nature their roles. Estimated cost, to date Estimated cost for the past has varied from a. the firm budgets $10,000 a year for employers to attend added education or conferences. The proposed budget will also cater for hiring and training new employees in case of layoffs. We also budget part of the amount for the staff to pursue technical lessons according to their specialty. Culture and Values. Culture defines work environment. It comprises set of values and norms. Culture and values will be important because it will help in familiarizing with the company mission. Clear company mission, future cultural vision can be developed and objectives improvement. Cultural competency will help improve operational progress (Hawkins, 2006) Employees will be provided with small perks like free drinks on Fridays, delivery of pizzas to every employee in the morning, dry cleaning the office. This perks at the end will boost the staff morale for working, appreciate their time spent in the company which will at the result to long term contracts with the employee. Other financial rewards like stock option will also be given to the employees who meet the standard required goals and have worked with the company for determined amount of time .i.e. more than 4 years and above. Hard working employees will also have their salary raised annually. This will increase employee working enthusiasm more. The firm will also look forward to paying more to the top performers. We will also create a bonus structures whereby staff can earn annual staff bonuses when they meet set or laid out goals. This will help the company not to be stuck with large increases. Successful diversity programs will go with compliance with the law. The company will consider ranking staff according to age, if a worker is energetic the will be posted to the labor demanding posts and vice versa. The firm will come up with new strategies where by highly productive workers are appreciated back with incentives. Human resources and retention. Recruiting and retention of qualified personnel is ideal for any organization accomplishment. Retaining staff members requires deep planning. Human resource department will play a very important role in recruiting and hiring of qualified personnel the department will also help in strategic plan retention. The cost of turnover is always higher that staff retaining cost. Soft or intangible costs of turnover have a big impact on the organization. That is decline in productivity morale and loss of unit knowledge (Stan and Duke 2000). The company will hire human resource professional to direct and oversee the staff structure. The professional director will be in charge of the employees’ benefit and any related tasks. This will at reduce work on load and at the end staff will be treated fairly and unanimously. The human recourse professional will also help in the staff in any way because they are more familiar with any employment laws and trends. The directors may end up setting programs to ensure the smooth running of the company in which the employer may not be familiar with. If the employers’ goal is to retain hard working employees, the human resource department will start doing retention diagnostics. Human resource managers also hire retensa to determine the root cause of any department challenge. Then they will come up with plans to address the specific firms’ needs. The human resource department should also come up with retention agreement whereby the company provides tangible incentives for retaining staff. This will also protect the firm interest by ensuring the new staff will not benefit from un worked job. This normally happens where by an employee takes incentive stay awhile and then desert the company before the required money is made.(Mayhew, 1985) To effectively retain and hire qualified employees, the firm will take steps to double check their current situation, like what is the employee area of strength. What information is passed from new employees to old employees? What information does a new employee learn from the interviews and what to do with the new employees? An employer will identify areas of vulnerability which will provide way for any necessary change. The company will offer new employees with incentives such as salary addition, bonuses, and increase in employee dividends on any shares bought from the company. (Duke, 2001). Employees who meet performance goals and have worked with the company for a long time will have financial awards. The employer will expect the employee to understand what is expected from them. If an employer is not familiar with what entails their jobs and what the employer needs from them, the y will not perform up to the expected standard. The team morale will also begin to decline. New employee on-boarding Employee on boarding means a new hire orientation program. It involves providing a new employee with ideal information and training on given specific time with information that ensures the new employee is productive as soon. Methods to be used include training, coaching new employees and integration (Compel 2012). On –boarding is intentional and always customized individually. The firm expects to hire 10 more employees with time. We expect the hired employees to be more aggressive. Employees will be rewarded according their work record. Aggressive employees will be promoted according to their performance. The company will set out successful on-boarding programs to ensure new employees understand their job roles and expectation as well. These expectations will be communicated early. The on- boarding programs will include assigning a mentor for the first months of the contract. $10/ hour adjustment for mentors will be the estimated cost. Management practices will be upgraded to assist in boarding. Stay and exit interviews will be conducted always to learn how the company is progressing and also to know why some employees might want to leave the company. Long tenure employees will also be asked question on why they are attracted to the company. Some other questions which may rise include, what would make an employee leave a company? How is the nature of the managers and their assistants? What can be done to improve the working conditions of the company? Where has the employer stayed? These questions will at the end help in determining the strength of the staff retention strategies. Workplace design is the planning of the work environment, equipment and structures in order to minimize staff harm. A nice workplace design improves a firm’s productivity and efficiency by reducing work related accidents. Staff will be attracted to an organization that emphasizes employee safety (Compel 2012). The firm plans to acquire equipment and chairs after every 3 years. The disposable equipment will be disposed off. The firm will also invest computers and fax at a cost of $500 every year. The firm will also establish a health facility for patient handling. Retention tool kit worksheet This is a retention plan that sets to evaluate employees on other personal aspects other than their performance. It rates the employee generally in respect to their personal characteristics or retention characteristics which may include loyalty, presentability, punctuality, reliability and meeting of set deadlines, responsibility and honesty among other attributes. Weights are attached to each attribute and the overall cumulative employee weight is used to evaluate them against other employees hence a choice can be made on which employees to retain. It is an all-round retention technique which is not biased to a specific characteristic. Retention category Performance Employees name punctuality Contribution to profits Loyalty Responsibility Other personal attributes Additional retention plan. Career growth and development Education and training- employees who are attracted to the post on offer will not get any training lessons. The firm expects the applicant to be familiar with what’s required in the post. Continuous learning lessons may be offered to the hard working employees. Employees who fail to demonstrate creativity will be laid off. Knowledge transfer –if the organization is challenged with dragging workforce and aging staff, deconstruction of jobs will concur. Program/initiative description: Skills will be offered if an employee has shown to be aggressive. Major objectives in the plan will be to reduce the amount used on replacement labor costs. To rise job productivity and satisfaction Reduce industrial costs Help in attaining company objectives Minimize negative exposure to the public incase a staff is laid off. Employee on boarding Employee on boarding which means a new hire orientation program, will involve providing a new employee with ideal information and training on given specific time with information that ensures the new employee is productive as soon . The firm expects to hire 10 more employees with time. We expect the hired employees to be more aggressive and show the required skills. New employees will not be coached. We expect the employee to be more skilled. Employees will be rewarded according their work record. The company will set out successful on-boarding programs to ensure new employees understand their job roles and expectation as well. Retention goals. Retention rate is the percentage of staff that ends up staying with a given company or organization. Turnover is the percentage of employees who may desert the company by resigning or by layoffs. If an employer sets very strict quantitative missions and goals employees may leave the company because they feel the set goals are too high for them to achieve. An employer who is not willing to recognize the high performers in the organization may lead to turnover. This is because an employee feels that their effort is not recognized by the management. It lowers employee working morale. Employee survey and interview If the working climate is not ideal this may result to turnover. Employer must ensure the workplace environment is ideal for working. Employer my start in-employee survey on how individual staff feels on working conditions of the company. Opinion surveys are mostly used by employers to determine on what employees like about the organization. The survey majorly focuses on employees remarks about the company. Before an employee puts down strategic plans they must be familiar with what the employee is doing right or wrong to avoid duplication of the organization effort. Managerial support. Managerial support for any organization is crucial. This is because directors assign professional duties that ensure the employees work according to the plan. By keeping employees always busy. If managers don’t excite the employees on how the individual posts are important, employees may lose self confidence. Leaders should teach the employees on how to retain high performance in the company. If a company does not give incentives to the managers who retain desirable employees may lead to reduction in working morale for the managers too. Retention measures. These are the measures that an organization is willing to do in order to keep certain employees. If an employer does not determine the tangible and the intangible measures, the organization may not be able to come up with the actual steps necessary for keeping employees. The intangible measures which an organization may fail to determine include; unprofessional mentoring programs, none payment after a bonus training, lack of tuition assistance and perks. This may at the long run lead to employee resignation. Actions taken Employer need to put good strategic plans into action and select the most appropriate. Employers who do not ensure that the eligible employees are provided with opportunities to improve their skills may lead to decline in the organization overall performance. Employers who provide employees a medium of training ensure that the strategic plans are already put into action. This at long term increases the organization performance (Mayhew, 1985). Retention tool kit worksheet This is a retention plan that sets to evaluate employees on other personal aspects other than their performance. It rates the employee generally in respect to their personal characteristics or retention characteristics which may include loyalty, presentability, punctuality, reliability and meeting of set deadlines, responsibility and honesty among other attributes. Weights are attached to each attribute and the overall cumulative employee weight is used to evaluate them against other employees hence a choice can be made on which employees to retain. It is an all round retention technique which is not biased to a specific characteristic. Employers who don’t keep a retention tool kit may fail to determine the overall performance of an employer. Employees ate promoted or retrenched according to the cumulative performance. Employers who keep the cumulative performance average too high normally end up layoffs of the underrated employees. Each worksheet shows different employees and their performance. This recordings help the employer to determine the performers and non performers. Retention category Performance Employees name punctuality Contribution to profits Loyalty Responsibility Other personal attributes References Mayhew, R (1985) “The Multi Generational Workforce in the Health Care Industry” pp 110-120 Mayhew, R (1985) “Human Resource Managers Appraisal Schemes: Oxford University press. Shaprio, J (2010) “How to Improve Employee Retention”. No. 2, pp. 23-28 Compel, J(2012) “Improving Employee Retention and Job Performance ”pp 40-42 Read More