Strategies for Retaining Skilled Employees

Economic conditions, it is also one of the major factors that tends to affect the supply of the workforce to a great extent. For instance, if the economic conditions of a country are good then there will be excellent workforce supply. On the other hand, if the economic condition of a country is not so good then the workforce supply will be quite poor in nature. It can be said that there are various categories of labour needs. Skilled and unskilled labor, for instance, skilled labor requires special learning, knowledge, efficiency as well as training whereas unskilled labor does not require any such special knowledge or training. The employees can be retained by some of the ways and these can be done via the objectives. It is quite vital for a company to know the reasons why an employee leaves an organization, which can help in making job attractive and encourage workers for staying in the company. The objectives include enhancing employee engagement, reducing turnover cost, maintaining diversity workforce, retaining knowledge, and hiring the right individual at the starting point. There are some genuine reasons why an employee leaves an organization, but there are also some unacceptable reasons such as not providing additional facilities like work from home, intolerable manager, company underperforming, poor interior designing of the office, or rude behavior from colleagues. To address these unacceptable turnover, some strategies can be implemented. It can be said that the skilled workers are the backbone of a company and there are some steps that can be undertaken to retain them. These include continuous training and team building activities, providing attractive incentives and benefits, promotions, open communication on career development, and inclusion.

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Activities
Activity 1A
1.
It has been observed that there is some of the information that can be considered with regards
to the employee turnover. The three types of main information are as follows: The employers
must be aware that there is voluntary and involuntary turnover and they must keep this as
information. The second information is there is undesirable as well as desirable turnover and
the undesirable one is when a firm tends to lose high performing as well as otherwise
employees who are valuable. Furthermore, the desirable is the state when a firm loses the
underperforming workers. The third information is a company must know to calculate the
employee turnover in a proper manner such as the information regarding the following is
required: the number of employees with which the firm has started with, the number of
workers that have already left and the number of workers that the company has ended with.
2.
It can be said that there are some of the aspects of the employee demographics that must be
considered during the employee turnover. The five of such demographic factors are as
follows:
Tenure- It is observed that one of the most interesting factors of the tenure is the length of
employment in the company has a positive correlation with the turnover of the workers. For
instance, if an employee’s previous record of staying in a company is good then they are
quite likely to stay in a firm for a long time. On the other hand, if the previous record of an

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employee is bad regarding being loyal towards a company then it is quite likely they will be
leaving the new firm within sometime.
Educational qualifications- The lower the qualification of an employee higher a company has
the possibility leaving the firm. On the other hand, if an employee has good educational
qualification then they will be loyal to an organization provided that he is getting proper
treatment from the firm.
Age- It is one of the major determinants of the turnover analysis. It has been predicted that an
average worker can switch upto 12 jobs till the age of 40.
The above-mentioned factors clearly highlight the fact that the demographic factors have
important relationship with the turnover frequency.
Activity 2B
1.
It has been observed that there are some of the factors that tend to directly affect the
workforce supply to a great extent. The following are some of the major factors:
Participation rate as workforce- In general the number of employees are basically based
entirely on the population. How much percentage does really work? It depends on the
individuals. However, it mainly depends on the individuals within the age of 14 to 60 years
approximately which is entirely based on the population ratio. How much percentage does
really work? It depends on the individuals. However, it mainly depends on the individuals
within the age of 14 to 60 years approximately which is entirely based on the population ratio
Intensity of the work or even the speed- the quality of labour is mainly controlled by the
speed. It can be said that an employee who works at a double speed completes the supply of

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the other workforce. However, throwing light on the above-mentioned discussion it can be
said that this particular speed depends on different factors. Health, education, climate as well
as others put a direct impact on the tendency of the work. The speed can be altered
knowingly.
Skill of the work or efficiency- It can be said that the skills is connected with the kind of
work that how much of wastage has already happened, how many accidents took place as
well as other factors that are considered for knowing the work related efficiency.
Competition for the talent within the entire industry- It is quite evident that if the competition
is quite tough then it will be quite difficult for tapping the supply as well as the cost of the
extra workers will also become quite high. Furthermore, if the need for a specific talent is not
quite high then the supply is quite likely to remain flexible in nature.
Population movement trends- The changes in the demography are quite likely to affect the
workforce supply. For instance, if there is a tendency of the individuals in terms of moving
from the rural areas to the urban areas then the supply with regards to the rural sector will be
less. In a same manner the new immigrants who arrived from the outside will have the
tendency of for settling down in the cities; hence it will be enhancing the supply in the areas
that are urban.
Changes in the technology- The technological changes is one of the main factors that effect.
There is a fear regarding the automation as well as the impact of the technology on the jobs as
the innovations have holds the potential for altering the environment.
Unemployment rates- The unemployment of an economy is quite likely to have an effect on
the supply of the workforce. For instance- If a country’s unemployment rate is high then the
supply of the labour may be high and vice-versa.

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Economic conditions- It is also one of the major factors that tends to affect the supply of the
workforce to a great extent. For instance, if the economic conditions of a country are good
then there will be excellent workforce supply. On the other hand, if the economic condition
of a country is not so good then the workforce supply will be quite poor in nature.
Activity 1C
1. It can be said that there are various categories of labour needs.
Skilled and unskilled labour- The skilled labour is basically in which the special learning,
knowledge, efficiency as well as training is required. For instance- the labour of the teacher,
doctor can be regarded as the skilled labour. On the other hand, for the unskilled labour it can
be said that like the skilled labour no such special knowledge or training is required. For
instance- the rickshaw puller’s work can be termed as the work of an unskilled labour. The
salary of the skilled labours are quite high than the unskilled ones.
2.
Activity 2A
Objectives of retaining the employees
The employees can be retained by some of the ways and these can be done via the objectives.
It is quite vital for a company for attracting, hiring, as well as retaining the employees. It is
also quite essential for a company for knowing the reasons, which can help the company in
terms of making the job attractive and encourage the workers for staying in the company.
The following are the objectives in form of examples:

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Employee engagement- Enhancing the employee engagement is one of the most common
objectives for retaining the employees. If the management is not proper then there can be
issues that can further have negative effect on the finances of the company.
Reducing the turnover cost- It can be said that the reduction of the costs is connected with the
high amount of turnover and it is also one of the objectives with regards to the employee
retention. For instance, as per some of the reports it has been suggested that the high
turnover rates also tends to enhance the job stress when the remaining workers are burdened
by the work left by the previous employees.
Diversity- One of the main aims of the company in relation with the retention objectives must
be maintaining the diversity workforce. Furthermore, diversity consists of varying ages,
sexes, races along with the workplace and educational experiences. If the culture of a
company is strong and diversified then they will be able to retain the employees.
Knowledge retention- the retention of skills and knowledge is another common objective of
retaining the employees as well as it is one of the most important elements for making a firm
successful in the long-run.
Hiring the right individual at the starting point- It is one of the most powerful objectives of
the retention. Some of the leading researchers have found out that if a company is selecting
the wrong individuals during the hiring process then it is quite likely that 35% of these people
will quite the job in the following year. If the company hires a quitter then they must not be
surprized at all. If a company needs an additional help then the company must try using the
hiring software.
Activity 2B
1.

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It has been observed that there are some of the genuine reasons why an employee leaves an
organization then there are some of the reasons for which workers leave a company and it
cannot be accepted at all. The 5 possible reasons for the unacceptable employee turnover are
as follows:
Firstly, some of the employees state that they are leaving an organization simply because it
does not provide them with the additional facilities such as work from home, coming late for
work and etcetera. However, it is completely unacceptable because the reason is quite vague.
Secondly, a lot of employees without any reasons states that they cannot tolerate a manager
because they are promoted in a wrong manner and it is hampering them so they wants to quit
an organisation.
Thirdly, another unacceptable staff turnover takes place when an employee simply decides of
leaving a company just because they heard that particular company is underperforming
without strong evidences.
Fourthly, some of the employees also feels that the interior of a company is not quite
appealing and just because they do not like the designing part in a company so they decides
to quit the firm and go to another firm that is well decorated from outside. It is one of the
major unacceptable reasons for the employee’s turnover.
Fifthly, every workplace has some peoples who are rude and if it happens to be less in
number then an employee must feel themselves lucky. However, there are some of the
employees in the company who make it point of creating a chaos by stating that because
someone is rude to them they decided to leave the firm and even these types of employees
influences other workers for doing the same.

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2.
There are some of the strategies that can be implemented for addressing the above-mentioned
unacceptable turnover.
Activity 2C
It can be said that the skilled workers are the backbone of a company that is successful.
Without these employees a firm cannot move ahead of their competition. There can be some
of the steps that can be undertaken in order to retain the employees who are extremely
skilled. These are as follows:
Continuous training as well as by the team building activities- an organization must make it a
point in terms of investing in the online training modules even when the workers are working
remotely. The workers must be sent to the conferences that will be enhancing their skills or
even it can provide them with additional knowledge that is outside their expertise and skill
set. The above-mentioned activities will be keeping the workers up-to-date with the new
trends taking place in the industry at present and they will not only commit to the team but
also for the company as a whole.
Providing attractive incentives and benefits- A company must provide bonuses in form of
rewards for the extraordinary accomplishments that acted as one of the biggest contributors
towards the successes of the firm. Furthermore, a company may also consider giving the spot
bonuses on a monthly basis that will be enabling the company as well as the workers for
tracking their progress. It will be encouraging the other skilled employees towards striving
for the excellence knowing that will be getting reward for their achievements over the time.

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Promotions- If the skilled workers get an opportunity in terms of growing within the firm
then they are likely to stay loyal to that company for a long time. Giving the employees with
the ranks they deserve and it will also earn the loyalty of these employees. Furthermore, it
will also provide the employees with a reason for staying in the firm because they know their
career will grow with the help of this firm. On the other hand, promotion is quite likely to
enhance the skills of these workers for serving the firm in future.
Open communication on the career development- The skilled workers must be kept in the
loop when the word growth arrives within the firm. Open discussions can be scheduled on the
status with regards to their performance in the job. The company must listen to the insights of
these employees as well as taking notes so the company can make wise contrasts as they
progress from setting up the goals to performance evaluation.
Inclusion- It is the duty of the company to include their workers in terms of establishing as
well as enforcing the goals of the company for achieving them. Day-to-day meetings must be
held for giving updates on the progress of the company and make them feel that they are vital
part of the entire journey of the firm. The company may also consider fostering the inclusion
by making the workers feel that they are part of something big and their individual
performances have an important impact on the success of the firm.
Furthermore, by the above-mentioned steps a company may aim towards best path of
enhanced employee loyalty and then retain the skilled employees who are the actual gems of
a company.

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