Employee Retention Management：员工保留管理.pptVIP

Employee Retention Management Prof. Dr. Ahmed Amin German University in Cairo June 2009 Importance of Retention Cost of replacement: Replacements cost include recruitment, selection and learning. Replacement costs may equal 50% of the employees’ annual salary. If each replacement costs 10,000LE, a company with a workforce of 1000 employees and a 10% turnover can suffer 1,000,000LE per year! Importance of Retention 2) Loss of human and social capital. 3) Downtime. 4) Damage to organizational reputation. The DARK side of retention! Assessment: Measuring Turnover (Number of employee separations / Total number of employees at midmonth)*100 May be analyzed by: Jobs and job levels Departments and locations Length of service Knowledge and skill levels Assessment: Costing Turnover Job Title_____________ A. Total employee annual compensation cost ____LE B. How many quit in the last 12 months ____ C. How long does it take to become functional ____ month D. Per person turnover cost (C / 12 * A * 50%) ____LE E. Annual turnover cost (Multiply D * B) ____LE Assumes 50% productivity through the learning period (C) Employee Surveys An excellent tool to identify the attitudes of the employees towards their job and organization. Some of the survey are not well designed. If you conduct a survey, you should be ready to give feedback and address concerns. Assessment: Exit Interviews Determine who will conduct the interview. Develop a structured interview format. Emphasize confidentiality and sincere desire to benefit from interview. The interview can be conducted on the last day or after the employee has left the company. Intervention: Recruitment Selection Selecting the right people can greatly reduce turnover. Use Realistic Job Previews to manage applicants’ expectations. Personality tests to measure positive self image. Thank you! ahmed.aminmohamed@guc.edu.eg * * 1) Measurement and Assessment Turnover measurement Costing of turnover E