Tuesday 1 July 2008

Retain the talent :Employee Loyalty Program

Exactly now every firm is facing from the problem of frequent shifting of the employees to another firms.This consequents in frequent vacancies in the firm which if happens at the time of emergency may compel the organization to procure ineligible candidates .
This again will lead to decreased profitability.
So some methods has to be formulated to retain the right man on right job.
These may be summarized as:-
1.Friendly HR policies
2.Adequate incentives and other benefits
3.Loyalty programs
4.Flexible working hours
5.Work from home
In a poll om shine.com these 5 elements of talent retainment has been graded as

HR policies 91
Incentives and other benefits 78
Loyalty Programs 78
Flexible working hours 76
Work from home 67

You can see that friendly HR policies top the list.
Then Loyalty program levels with its counterpart ,incentives and bonus.
Both friendly HR policies and loyalty programs ensure a sense of loyalty in the employee.
Employee loyalty has a vital role on the firm's profitability.
So it has to be given due importance in the organization.