Retention is not confined to only Business Process Outsourcing or IT industry and it cuts across many sectors & companies. This brings a new reality of todays talent market. If a business house sees a member of its management team as crucial to its success, so does the competition, who can offer more monetary benefits to the concerned employee to try and take him/her away. Top performers are considered to be the cornerstone of any organization and the companies are increasingly realizing the importance of holding back these cornerstones that can otherwise be easily targeted by the competitors.
While most of the
outsourcing call centers in India are not aware yet of the need and importance of retention, there are many which appreciate its value and over the time, the organizations that appreciate the value of retention are clearly and steadily marching ahead of their competition. Many of the good companies have already put a system in place through which they can easily identify their future leaders and also retain these star performers. Some of the companies have also initiated the system for listers where the star performers are recognized and the names of these performers enlisted. The organizations then take it on themselves to retain the listers by any means.
The first step in retention is identifying the top performers in the company. The list method can help in achieving this where each of the departments in the organization need to maintain the consolidated list of performers. The other method used by many companies is following a technique of MLP (management leadership potential) where the critical employees are identified by the higher management as the future leaders and they focus on retaining them.
Once the future leaders are identified, the organizations must ensure these people are provided with the necessary room for their self growth. Efficient performance appraisal systems indicate the employees their value to the organization and stresses on retaining them. The key factor which needs to be kept in mind while applying an effective appraisal system is by involving a group of people acting as an employee evaluation board comprising of the employee line manager, company HRD, the peers, the internal as well as external customers and so on.
Besides the effective performance appraisal system, some motivational tools also play significant parts in key performing employee retention in the organization. The key performance indicators (KPI) need to be implemented from time to time and same needs to be shared with the company employees and the key parameters, which determine the performance indicator, need to be measurable & clearly defined. If these things are done in a proper way, there is no chance of being ambiguous as an ambiguous performance appraisal system causes de-motivation among the employees.
An organization also needs to implement reward systems linked with the performance appraisal system in order to retain the critical performers and the organization needs to deliver on the commitment it made to these employees. Key performers need to be rewarded adequately as rewards and recognitions make the employee aware of how much value the company gives to their commitment and contribution.
