The average time-to profit-time period for a new hire in any industry is about nine months,suggesting that a fresher begins to break-even the investments made on him/her and earn profit for the firm only after nine months.Exit of an employee before the nine month period can cost up to five times of his or her paid salary. HR managers need to be proactive and develop innovative employee interventions to retain talent.
Some suggestions are:
1. Quality of supervision
2.Perception of equity in rewards-both monetary and non-monetary.
3.Scope for the employee to speak out freely.
4.Meeting's at least a month, to share the company's vision, industry's growth and how employees see themselves in the changing scenario help a great deal.
5. Salary hike.
6 Exit interviews etc.
No comments:
Post a Comment