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Employee Retention Key to Organizational Growth

Dinesh Goel, Co-Founder & CEO, AasaanJobs
Friday, October 7, 2016
Dinesh Goel, Co-Founder & CEO, AasaanJobs
Headquartered in Mumbai, this end-to-end recruitment solution provider help employers to hire quickly and reliably with a meticulously verified database of candidates with relevant skill sets.

The traditional employer-employee relationship has undergone a complete makeover over the last decade or so. The carrot and stick policy is fast losing steam in the light of new employee retention schemes in which companies are going all out to retain valuable resources and talented manpower. The idea that, employees are just a cog in the wheel and readily disposable, are now a thing of the past. Companies are increasingly realizing the importance of a strong, dedicated and smart workforce in meeting organizational goals. To this effect, efforts to make the workspace a happy one have followed; office gyms, off-sites, free food, paid holidays and the like are joining the list of perks.

According to a well-known career site Glassdoor, a fat pay cheque is no longer making the cut. It is found that 57 percent of all workers claim that benefits and special perks play a decisive role in determining whether they accept or decline a job offer. In fact, 80 percent of the participants interviewed confessed that they’d choose new benefits over a conventional pay raise. No wonder, companies are coming up with ingenious ways to show their employees that they are valued assets.

A host of special initiatives are on the radar of forward-looking enterprises whose intention is to create a sense of loyalty and belonging to the company. By introducing policies that are in the best interest of the employees, they are hoping to keep the attrition rate to a bare minimum. A commonly followed policy is the flexible work timing plan that allows a person to maintain an optimum work-life balance and manage personal goals better. Top management is realizing the importance of downtime for harrowed employees so they can put up their feet and unwind after hectic schedules. This breathing space ensures that they return to work in full form without reaching the burnout stage. It has been a proven strategy to give breathing space to employees who are in high-stress jobs. It also allows a person to balance personal and professional priorities without either being compromised.

Work from home is another facility that’s found plenty of enthusiastic takers. In a scenario where nuclear families are more a norm than an exception, couples are choosing at-home careers especially when starting a family or raising a child. By excluding these new parents from the job market, companies are realizing that they’re losing out on good resources. Plus, the option is beneficial for them, so the investment in office infrastructure and running costs are reduced. So, to address the changing social milieu, they are extending a chance to valuable candidates to work from the comforts of their home. This works brilliantly for people who have pressing family commitments.

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