(Part I of V)
It is undeniable that there are tremendous benefits stemming from tenured employees. Organizations must establish programs to retain employees.
It is very expensive when employees leave. Aside from the direct and indirect costs associated with an employee turnover, the organization also suffers from brain drain or the knowledge that is lost with the employee’s departure. When these knowledge are retained, there is a continuing improvement in the quality and productivity of the organization.
Another reason to prevent turnover is the avoidance of defection of critical employees to competitors, which might also result to colleagues and customers who enjoyed working with defecting employees to follow them to competing companies.
While organizations and the human resource departments in particular can create retention programs, the team leaders, supervisors, and managers can also have influence on the retention of employees.
If you are a good team leader, you will find ways to make your employees happy with their jobs. A mediocre one will always find ways to make the lives of the employees miserable.
Sometimes, even the policies we put in place make it difficult for the employees to find their joy. A manager or supervisor’s quality of relationship with his or her team will indicate the potential for the team members to stay and be committed in their jobs, or to look employment elsewhere.
Practical Application: Be a wise team leader. Be smarter. Find ways to make your employees happy, and you will help secure a strong job retention rate, just like at Costco. (JAN)