Managing Employee

10 Retention, Engagement,
and Careers

4-

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Describe a comprehensive
approach to retaining
employees.
4-

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 IMPROVING PERFORMANCE:
HR as a Profit Center
• Studies show link when turnover rates
rise financial performance is at risk
4-
• HR practices can lower turnover
o Opportunities
o Training
o Development

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 Managing Employee Turnover

• Costs of turnover
• Managing voluntary turnover
• Reducing voluntary 4-
turnover

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 Managing Employee
Retention

1. Identify issues with surveys

2. Compensation
4-
3. Selection
4. Professional growth
5. Meaningful work/ownership

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 Managing Employee
Retention

6. Work–life balance
7. Acknowledge Achievements
4-

8. Data analytics
9. Counter offers

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 Explain why employee
engagement is important,
and how to foster such
4-
engagement.

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 EMPLOYEE ENGAGEMENT

• Employee engagement is the extent to

which employees feel passionate about
their jobs, are committed to the
organization, and put discretionary effort
into their work. Employee engagement is not
the same as employee satisfaction.

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 IMPROVING PERFORMANCE:
HR Practices Around the Globe
• Rio Tinto is a global mining corporation
• Using metrics and measures, consulting
firm Towers Watson4- conducted an
employee engagement survey so Rio
Tinto could take the steps to:
o Employee engagement and
o Performance
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 Managing Employee
Engagement
• Gallup survey
o Business units that have employee
engagement have 83% chance of
performing above the company median
o Those with the lowest
4- employee
engagement have a 17% chance

• Watson Wyatt Worldwide survey

o Highly engaged employees generate 26%
higher revenue per employee

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 Managing Employee Engagement
Employee Actions That Foster
Engagement

1. Understanding how their department

contributes to company
4- success
2. Seeing how their efforts contribute to
achieving company goals
3. Get a sense of accomplishment from
work at the company
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 Discuss what employers and
supervisors can do to support
employees’ career development
4-
needs.

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 Career Management

• Career terminology
• Careers today
• Psychological 4-

contract
• The employee’s
role

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List and briefly explain the main
decisions employers should
address in reaching promotion
4-
and other employee life-cycle
career decisions.

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 Making Promotion
Decisions

1. Is seniority or competence the rule?

2. How should we measure competence?
3. 4-
Is the process formal or informal?
4. Vertical, horizontal, or other?

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 Making Promotion
Decisions

• The Gender Gap

o Eliminate barriers
4-
o Improve networking, mentoring
o Break the glass ceiling
o Have flexible career tracks

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 Making Promotion
Decisions

• Look at Practical Considerations

• Managing transfers
4-
• Managing retirements

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