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Build an attrition action plan : Building an attrition action plan will this help to find
out if environment is up to scratch, it will also act as a protection blanket to support
employees before it is too late.
These will go a long way in ensuring we are hiring the right person for the job and that they
will stay with company for the long haul.
6.Healthcare benefits.
7.Promotion.
Promotion is attached with increase in pay, and this motivates the employee to perform
better.
8.Job security.
This will promote employee involvement and better performance. An employee should not be
kept on a temporary basis for a long period.
10. Provide a day off (outside of annual leave) as a reward for successful task completion.
Monetary Incentives :
1.Bonuses.
it acts as an incentive to perform better. It will also be linked to the profitability and
productivity of the organization.
2.Merit pay.
3.Profit sharing.
This is an arrangement by which organizations distribute compensation based on some
established formula designed around the company’s profitability.
4.Stock options.
As the employee receives shares on a preferential basis which results in financial benefits to
the employees.
7.Salary or wages.
This is one of the most important factors in an organization. Salaries and wages should be
fixed reasonably and paid on time.