The success of any business organizationrests on the best talents within the organizations.Every HR professional getsconcerned when they come to know that high-performing employees are leaving their job roles. The HR team plays a very important role in employee retention.People management is very sensitive part and you, as a HR professional,have to be very careful while dealing with employees.You need toy utilize best of your abilitiesto overcome the problems related to employee turnover. It needs to be understood that the cost of turnover includes lost productivity, lost profits, recruitment, training, and more.

HR management is indeed challenging, but there are ways to make the processes worksmooth.  There are certain areas in employee retention where HR team and top-levelmanagementneed to focustheir concentration.

1.    All employees should not be kept insame category:

Modern day HR practices usually do not categorize employees and evaluatethem keeping on the same basket. It is very important to internallycategorize employees to identify best talents. It is because, all employees cannot be best talents. 
Employees are of 3 types: 
a.    Employeesof green category
b.    Employeesof yellow category
c.    Employeesof red category

a.    Employees of green category:
Employees under this category are the best performing and the key people for your organization. They are the best talents you really need take care of. They are consistently high performers and expertswith high integrity at their positions and should be highly motivated. 

b.    Employee of yellow category:
Employee under this category are the above average performers. They have huge potential in their job roles. They are in a need of continuous guidance and monitoring and should be taken care of properly by their managers. You can develop them with training and development activities, proper coaching and guidance.

c.    Employee of red category:
To some extent, employee turnover can keep an organization in good health. The employees of this category are normally below average or poor performers. Even after providing skills, competency development trainingsand PIAs (performance improvement activities), you do not seemuch improvements on their performance. To let go of such employees,organizations should opt for voluntary retirement scheme (VRS).

HR teams should categorize employees into these 3 categories and startdoing internal assessment and motivate, develop and work on retention.

2.    Fair and Transparent performance appraisal system:
Setting goals and calculating the achievement (KPI measurement) on regular basis is very important. It helps employee to understand their level of performance. Fair and transparent performance appraisal system boost the performance and encourage employees to perform better. It increases employee retention. The salaries of the performers must be appraised at regular intervals which is an effective way to retain employees. Career growth is an important way to retain the talented employees. Give them the authority to take some decisions on their own, but the management must have a close watch on them so that they do not misuse their authority.

3.    Employee engagement:
If employees do not get fully engaged with their jobs, they will start getting frustrated andleave organization. So, engage the employees in productive tasks necessary for their overall development. Employee engagement is one of the most frequently talked topics in organizational development, but it is also one of the hardest goals to truly accomplish. Our recent guide delves into the challenges facing organizations today and practical ways to overcome them and improve engagement. The management and HR must show their care and concern to their best talents. The employees must feel secure at the workplace for them to stay motivated. Whenever any company policy is to be formulated, the opinion of each  and every employee should be taken into consideration. “Employees who are engaged are more likely to stay with their organization, reducing overall turnover and the costs associated with it. They feel a stronger bond to their organization’s mission and purpose, making them more effective brand ambassadors. They build stronger relationships with customers, helping their company increase sales and profitability.

Invite all of them on a common platform and ask for their suggestions as well. Freedom of expression is a must. If you adopt this, you are going to retain the talents.
 

Source: Liberty of HR Thoughts