Employee Retention

FLUCTUATIONSURSACHEN BÄÄMPEN
The decisive fluctuation factors for employees must first be identified in order to derive measures against it. It is advisable to carry out a survey after an employee has left to get an impression of the causes and reasons for leaving. If necessary, this information enables the employee to be bound by appropriate offers.
combination of the most frequently mentioned reasons for fluctuation:

.

• insufficient knowledge about own rights/obligations and tasks
unsatisfactory task
• unsatisfactory task field
• professional information about company news
• lower recognition of achievements
• little decision-making power and opportunities to participate
• excess load
• bad superior relationship
• insufficient salary and career prospects
• bad working atmosphere

COST SAVING BY SINKING FLUCTUATION<
On the basis of an average German company with 1,000 employees, the costs per leaving are estimated at approximately 36,000 euros. The following sources can cause these costs:

• insufficient knowledge about own rights/obligations and tasks
unsatisfactory task
• unsatisfactory task field
• professional information about company news
• lower recognition of achievements
• little decision-making power and opportunities to participate

STRONG EMPLOYEE SATISFACTION
Who is enthusiastic about his work and can identify with his company will not quit. The most effective approach to achieve this employee satisfaction is to meet the individual needs of the employee.

COST SAVING BY STRONGER RELATION OF EMPLOYEES
Studies show that employees without or with negative company ties cause additional annual costs.
Examples for additional costs due to inadequate employee ties:

• Failures
• Thefts, damage caused
• negative effect on customers, applicants etc.
• disability of the service providers
• low working speed
• lacking implementation of receiving information

These costs can be avoided through positive employee retention. It is estimated that the savings through employee retention measures in an average German company of 1000 companies is 17,000 euros per employee per year.

PERFORMANCE
Numerous studies show: Higher employee retention leads to higher performance, especially emotional retention is effective. Employees who are loyal to their company usually voluntarily perform more than the duties arising from their employment contract.

INTERNAL CORPORATE COMMUNICATION
The orientation of corporate communication should focus on success and goals. This provides the opportunity to value and motivate employees. Success-oriented incentive systems with variable remuneration systems are highly effective.

LEGISLATIVE/MANAGEMENT
A good employee retention increases the individual performance of the employee and thus the success of the company.
Increasing employee retention through success-oriented leadership:

Ensure framework conditions for the processes so that employees can develop their individual competencies
• corresponding targeted management of skills so that they lead to success
• open and clear communication of goals, successes and information
Clear demarcation of tasks and responsibilities trustworthiness, authenticity, credibility

HR AS STRATEGIC BUSINESS PARTNER
The personnel management supports and accompanies the leadership, starting with personnel selection up to the definition of incentive systems. When HR department and executives cooperate, the benefits can be obtained through employee competencies.

LEARNING FROM FAULTS
satisfaction of existing employees and especially high performers is the basis for good employee retention. True satisfaction means lasting employee loyalty. Even if the external image of the company is polished (e.g. through advertising campaigns) - false promises do not represent a long-term solution. Potential employees can obtain information through social media and rating portals (e.g. kununu). Dissatisfaction of current and former employees has a significant influence on the decision for or against a company. Large corporations such as Google can be useful role models. They specifically try to satisfy all private needs of their employees in order to achieve maximum loyalty to the company.

ALLEINSTELLUNGSMERKAMALE
To make an attractive impression on applicants as a company, it is helpful to take the applicant's point of view and to consider what needs this target group has. The most effective are emotional characteristics such as individual design of the work content and family-friendly working conditions.

TARGET GROUP
Target groups can be classified by beginners, experienced professionals and executives. It is also possible to divide according to characteristics:

Occupation-related characteristics e.g. work experience, further trainingsociodemographic data: e.g. age groups, gender
• psychological data: e.g. goals, values

ZENTRALE BOTSCHAFT<
The employer communication should be directed only at the company-relevant target groups. It makes sense to disclose the lived company values and also to show corners and edges.