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March 10, 2013

How to be one of the best places to work at

According to a study, when a middle manager leaves the total loss to the company is 7 to 8 times his salary.  When a trained executive leaves, the loss is around 4 to 5 times his salary.  Apart from the monetary loss, the major setback comes in the form of delays, disruptions, and time taken to build rapport with the clients and the coworkers.  It is also a strenuous task to find the right candidate to replace the departee and train him, so that he can execute the same tasks proficiently as his predecessor. 

In fact attrition is very painful, not only for the organizations, but also for the coworkers and related teams.  It takes time to build rapport and understand the working style of an individual and when he resigns, everybody has to repeat the same procedure all over again.  A high rate of attrition doesn't speak any good about the image of the company.  To become a better workplace, an organization should try to implement better reward and retention strategies. 

There are many reasons of a high rate of attrition and some of them are stressful environment, lack of direction, monotonous nature of work, improper policies, dismal career growth, management conflict and irregular shifts, apart from poor paychecks.  BPO's have some or all of these problems and that is the reason business process outsourcing companies face the highest level of attrition.  Sometimes these BPO companies become more like sweatshops, where the management has no objective but to blindly spin money for their top bosses, exploiting their workforce to no end.  Sometimes export houses and other small businesses also adopt these savage business policies and as a result, nobody stays there for long.

How to become one of the best places to work at?

If, we want to become an organization, which is preferred as one of the best places to work at, we have to implement a few things, so that our employees stay with us and work wholeheartedly towards the growth of our organization.

A mission statement and Clear Purpose

To become a great workplace, first of all, we should have a mission statement and a clear purpose.  This helps the employees understand the motive of every practice and the nature of tasks assigned to them.  It also brings the organization in a state of cohesion.  Sweatshops do not have it, because all their greedy managers are taught to practice is making money callously, blindly and brutally.  They are not familiar with the terms of ethics, career growth, and social welfare. Ensure proper communication Successful organizations have better communication.  All the tasks and instructions should be communicated effectively to allow the employees to work according to it.  They should also communicate the changes in time, if there are any, so that it can be incorporated without any delay. Providing quality training Employee should be provided quality training and necessary tools to carry out their job effectively and efficiently.  It instills confidence in them and empowers them to carry out the tasks using the best of their talents and capacities. Address the complaints and grievances The management should not delay addressing the complaints and grievances of the employees.  They should conduct meetings with their employees on regular intervals, so as to understand their stance and problems.  It also provides a chance to listen to their suggestions and find ways to improve the way work is being conducted.  It enhances the overall productivity of the organization.  “Quality Circles” in Japan is one such example, where all the technicians and workers are invited to discuss different processes and offer suggestions to improve the processes and the products.  This practice is not only good for the organization but it also creates a sense of belonging among the employees. Improve the quality of supervision The quality and efficiency of management and supervision is also responsible for the betterment of the workplace.  The managers should be fair and impartial.  They should leave no stone unturned to make the workplace stress-free.  The employees should enjoy their work and the workplace should be full of cheerfulness and light environment. Recognize and reward the achievements of the employees It is very important to recognize and reward the employees, so that they feel valued and honored.  It increases their motivational level and improves their overall morale.  In an organization, where employees are rewarded and appreciated, the attrition level is found to be extremely low.  Salary raise should be frequent and according to the achievements of the individuals. Enhance career prospects Job growth and career prospects are on top of the minds of Gen Y employees, therefore the management should groom their employees to take up increased challenges and responsibilities, so that they can rise up the ladder of hierarchy.  Failure to promote the talented and hard-working employees to high ranks would definitely result into increased level of attrition.

Strike work-life balance The management should encourage the initiatives towards work-life balance.  The working hours should be flexible and leaves should be provided whenever needed.  The organization should also provide the healthcare facilities and funds to employees and their dependents.  It is a big step towards retention of competitive employees as healthcare services are highly valued and regarded by the people.  Work-life balance is extremely important for the retention of highly talented and productive employees. Maintain individuality as well as teamwork It is the task of an efficient manager to encourage individuality, achievement and innovation of an employee, along with nurturing his ability to work in teams.  The individual competencies should be utilized for the overall achievements of the teams.  Provide greater autonomy Apart from that, the employee should have greater autonomy.  The employees should be free to choose the way he performs a specific task.  There shouldn't be any unnecessary interference and the management should not micromanage these things.  It instills confidence among the employees and increases their motivational level. Innovation Innovation should be and grace from top down and traditional and old style management should be avoided.  The world is growing at a faster pace and so are the challenges and business practices.  Innovative ideas are the only ways that can face the challenges of future.

Tags : Best places to work, how to be best workplace, employee motivation, employee, satisfaction, HR practices

About Nashaat Quadri

Freelance Content Writer (Compare Infobase, New Delhi.) Ex Sr Content Writer, Western Software, New Delhi. Ex Relationship Manager, Mashreq Bank, Dubai.