How to Create Hook to Retain manpower

 

How to Create Hook to Retain manpower ?

 Introduction 

👉Are your employees leaving your company frequently?

👉Are you unable to retain your manpower? 

👉Do you want to build a tame of talented manpower?

The two most important problem in any business are 'competition' and 'attrition.' competition is outside, wile attrition is inside.

Attrition means how many employees leave your company.

Usually. top companies worldwide don't give high salaries, but "dole-out 'Maggie' in the form of various perks and benefit " to retain employees.

Now, let us understand the reasons for very low attrition rate is some companies compared to others.

#1:Accommodation and Pick & Drop Facility    

It won't cost to much to the employer as part payment deducted from the salary of employees Itself but it "given a sense of pride and convenience to the employees".

#2: Tea, Coffee and Snacks Counter 

Apart from providing free tea, coffee and or other snacks, some companies also provide food at a subsidized pries. It also arts as a grad retaining tool.

#3; Timely Salary, Bound, Appraisal and Promotion 

It has been seen in various new companies and startups that they don't provide a salary to their employees on time.

The employer need to understand employee's expenses like-  EMIs, Bill Payment,  Groceries, and per-planned and monthly expenses.

#4: Insurance

In addition to salary, If the employer adds insurance into it then gross  salary insurance automatically 

Due to the sedentary lifestyle and unhealthy eating habits, every now and then new diseases come into existence.

It is advisable that employer provide health insurance of at least Rs 1-2 lakh to its employee's by selecting a good insurance a company. 

Again, It won't cost as the pate premium would be deducted from an employee's salary.

#5:Work Form Home or Flexi-Schedule 

there are some department in the company where performance is easy to measure and they have less dependency on other department 

If there is any such department in your company, and can give employees the flexibility to  

you may allow finish 9 hours of their shift, irrespective  of check-in and check-out  time.

For Example

you may allow your employees to work form home or can give flexibility to office-timings, which increases their productivity and performance.

It will decide whether your employees will live and grow, or they will leave go 

#6: Kanyadaan or Scholarship Scheme 

you may propose to your employees that if they stay for 5 years or 10 years  in your company, you'll add same specified money into kanyadaan or scholarship fund every month which will "help in their child's marriage or education future". 

#7: Free Grocery to Blue Collared Employees    

Apart from the regular salary, if you "provide grocery bag worth Rs. 2000", to your blue collared employees like drive, peon or office boy it will act as a "comfort factor" for such employees.

Hence, it is easier to retain blue-collared workers.

#8: Benefit against contract  

If your employee requires any expensive  items like a car, bike, laptop, etc, you can give it to him/her against a contract.

Now, the item will be purchased on  employee's name and the company for next 3 or 5 or 10 years, depending upon the item purchased and policy of  your company.

#9: Interest-Free Loan For Emergency and Adversity 

A person remembers only two types of people one who was with him in his  good times and the other, who was with him in his bad times.

your number 1 customer is your employee; if you  support they they will never leave you.

❌ you don't have to earn interest on that loan.

❌  don't fear that he will run away with your money.

Giving a loan of amount 3 times his salary won't affect much. provided he spent some time in your company.

#10: Additional Week-Off with Every year Completed 

Tell your employees that.

👉If they complete 1 year in the office, they will be given 1saturday off. 

👉If they complete 4 year in the company, they will get 4saturday off. 

👉After 4 years, they will be eligible for gratuity.

This motivates them to spend many years in your company.

By applying these ideas you may not need to give hefty hikes to your employees as they are complacent with the security  and safety provided  by you.

these are the 10 tips which will help you retain your manpower. you may  think it will cost you dearly but in reality, it won't.