This story is related to a very big firm. Their job is to sell the product. His company has at least 300-400 employees. They have 4 branches in India (Delhi, Mumbai, Chennai, and Kolkata). They used to recruit 3-4 employees daily, but many employees left their jobs and those who left the jobs were related to Top Level Management. This was the reason that the company was not able to become famous because it had to explain all the work of the company to the Low-Level Management. The nature of the company owner was very good and he used to give a good salary to all employees as per the company standard. Nevertheless, the company’s employees were becoming fewer. This has become a particular concern for his company.

His company was started in 2005, and in about 10 years he had made a very good standard for his company where his turnover was 10 crore per year, but the lack of employees was pressing his company reputation.

One day he contacted our recruitment firm and talked to recruit 4 to 5 employees. He said that the employer who will get recruited by you in our company will be able to work in the company for a long time. I noticed some problems with his conversation. then I asked, “what problem are you facing?” Then he told me that “even after giving a good salary to the employee they are not interested to work more than 1 year and they left the company. what should I have to do?”

After listening to his entire talk, I told him that giving a good salary is not only enough, but there are many things that should happen in your company.

I told them what are the reasons that the employee could not stay in the company.

• Lack of rewards and benefits- 60%

• Poor management- 50%

• Bad manager- 70%

• Seeing good employees leave- 30%
  

• Lack of respect- 60%
  

• Excessive/ Little Work- 10%

• No promotion on-time- 10%
  

• Lack of support- 10%
  

• Poor communication- 20%
  

• Lack of opportunity – 35%
  

After listening to me they asked me a solution to this problem. So I told them how to retain good employees in your company for a long year.

• Develop great managers

• Let your employees be their true selves at work.

• Create open communication between employees and management.

• Offer financial rewards

• Wellness offerings
  

• Give your employees flexibility with their schedules
  

• Make professional development a top priority
  

• Upgrade your equipment
  

• Create an environment that makes your employees feel like an asset to your company
  

• Allow employees to use their talent and skills.
  

After taking my advice, that owner did as I said.

After 1 year his company underwent a new change. His employees were staying more and more in his company and working at their own pleasure.

In today’s world, the biggest challenge for a company is to hire the right employee who turns out to be a valuable asset but a bigger challenge is to retain that employee.

According to the survey, 80% of employees said they are likely to change jobs in 1 Year. While 50% of a female employee was likely to value the company brand and reputation and 60% male preferring a salary increase.