Tips on employee Retention and Engagement Techniques for MBA students by IQ City UWSB, Kolkata
What really defines a workplace? Is it the physical office, the machinery, or the fancy amenities? In reality, it’s the people who work there, often referred to as human capital, that determine the quality of the workplace and the future of the organisation. When employees are actively involved and enthusiastic about their work, it greatly benefits the organisation.
In today’s knowledge-driven workforce, employee retention and engagement is a concern that affects not just the HR department, but the entire leadership team. Successful companies take proactive steps to improve engagement by constantly asking themselves why their employees would want to stay with the organisation and what they can do to make it more appealing.
If you are an MBA student, check these tips on better employee retention and engagement:
A lot of organisations have engagement programs that don’t fully consider all aspects of the employee experience. Some of them view engagement solely as a way to keep employees from leaving, without realising its importance in attracting top talent during the recruitment process. On the other hand, organisations that prioritise employee engagement as a core part of their overall strategy take a different approach. They integrate engagement into every aspect of the employee experience, ensuring that each element supports and enhances the others.
To ensure a positive start for employees, it’s crucial to focus on their first day experience. Here are some best practices that good companies follow for effective onboarding:
Hiring managers personally introduce themselves to new hires on their start day. They provide relevant resources, websites, and forms in advance to avoid wasting an employee’s first day searching for important information.
Managers are trained on effective onboarding techniques and provided with a comprehensive checklist. Managers are trained to help new employees feel valued and engaged from the beginning, allowing them to contribute and make a positive impact in the organisation.
Building relationships is crucial for creating a welcoming environment for employees. When a new employee is expected to work on-site, it is important to arrange a comprehensive tour on their first day. Furthermore, it is advisable to assign them a mentor or buddy who can assist them in getting settled. This proactive approach helps foster a sense of belonging and support for the new employee.
It is essential to plan employee engagement initiatives in advance, including announcing upcoming events with sufficient notice for employees to prepare. Gathering employee feedback or utilising employee engagement apps can help assess the types of events preferred by employees, and these suggestions can be used to make necessary adjustments.
Compensation plays a vital role in employee engagement, as it makes employees feel valued and motivated to perform their best. Offering competitive pay packages is essential to ensure employee satisfaction. Regularly evaluating and adjusting salaries is necessary to provide fair and competitive compensation. Also, offering bonuses can boost productivity and reduce turnover rates within the organisation. Providing additional benefits such as healthcare and retirement plans can also significantly contribute to increasing job satisfaction among employees.
Organising training programs for employees is crucial to ensure they remain updated. This helps them stay informed about the latest industry developments and technological advancements. Prioritising the professional development of employees is highly important. Providing opportunities for training, participation in conferences, and supporting their continuing education should be considered. It is essential to establish a system of regular performance feedback to identify areas that require improvement. Implementing a succession planning strategy can also prove beneficial as it promotes career growth and nurtures leadership capabilities among employees.
Rewards play a significant role in enhancing employee performance and fostering a sense of appreciation. Recognising employees for their contributions and offering well-deserved rewards can serve as a powerful motivator. Establishing formal reward systems, such as presenting tokens or mementos, can be an effective way to show appreciation for their hard work. Acknowledging employee contributions can have a substantial impact on boosting morale and increasing job satisfaction, ultimately contributing to employee retention.
Looking for a good MBA college in Kolkata?
Explore the MBA programme at IQ City United World School of Business ( IQ City UWSB), Kolkata. The 2 year MBA course offers dual specialisations in Marketing, Human Resource Management, Finance, Digital Marketing and Business Analytics and Data Science. If you are searching online with phrases such as “UWSB kolkata” or “United World Kolkata placement”, get in touch with us.