University HRM Report: Employee Retention Strategies and Analysis

This report details a Human Resource Management (HRM) meeting held on October 25, 2017, focusing on employee retention within the Sales & Marketing department due to a high attrition rate. The meeting, managed by Mr. David Fischer, involved key speakers including the Marketing Head, HR Head, and CEO. Discussions centered on various retention methods: training to enhance employee value, mentoring programs for development, competitive compensation and benefits, encouraging referrals, valuing employees through recognition, and providing coaching and feedback. Action items were outlined for the next period, covering discussions on attrition, training, mentoring, compensation, employee value, and feedback. The report provides a comprehensive overview of the strategies discussed and agreed upon to combat employee turnover and improve organizational productivity.

Running Head: HUMAN RESOURCE MANAGEMENT
Human Resource Management
Name of the student
Name of the University
Author Note

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Assessment Task 2
Current Meeting Information
The meeting was held on 25.10.2017 and began at 11:00 AM. The venue of the meeting
was the auditorium hall at the office. The name of the meeting manager was Mr. David Fischer.
The meeting ended at 4:00 PM. The people who attended the meeting were from the Sales &
Marketing department of the organization.
Main Agenda Topics
The meeting was held on the topic of employee retention. The major reason for the
meeting to occur was of late, it was being observed that the attrition rate of the employees,
particularly from the marketing department of the organization has been quite high and this is
having an adverse effect on the overall organizational productivity.
The main speakers who shared their viewpoints regarding the topic were the Marketing
Head of the organization, the Human Resource Head of the company and the CEO of the
organization. Several questions were asked from the present employees of the Sales & Marketing
department of the organization.
The discussion mainly focused on certain retention methods that need to be implemented
for retaining the staffs within the organization. These are mentioned as under,
1. Training – In this regard, the speakers stated that training the staffs will be doing the
reinforcement of their sense of value. With the help of training, employers will be

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assisting the staffs to actualize the goals and make sure that they are having a solid
understanding regarding their job roles.
2. Mentoring – In this regard, the speakers spoke about incorporating a mentoring program
integrated with a goal-based feedback process that will be providing a structured
mechanism to develop strong bonds within the company. This will also be considered
being a solid foundation in respect of staff retention as well as development. Moreover,
through the mentoring program, the company will be pairing a more experienced
marketing staff with a less experienced marketing staff, with the objective towards
developing particular competencies, providing performance feedback, as well as
designing the career development plan of an individual. It was decided that a mentoring
program will be getting implemented within the organization very soon.
3. Showing appreciation via compensation and benefits – In this regard, the speakers spoke
about providing things such as competitive salaries, profit sharing, bonus programs,
pension and health plans as well as paid time-off. The speakers stated that these will be
sending powerful message to the staffs regarding their significance within the
organization.
4. Encouraging referrals and recruiting from within – About this topic, the speakers stated
that to have the current staffs offer referrals could assist in minimizing confusion relating
to job expectations. The current staffs can provide a realistic description about a post to
the person he/she is providing reference of. It was also discussed that, an effective way
by which the organization can reduce the impact of turnover is by hiring from within, as
because the present staffs have already made the discovery that they are suitable for the
company.

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5. Making employees feel valued – In this respect, the speakers stated that staffs will be
going the extra mile when they will be having a feeling of responsibility regarding their
work results, believing their jobs will be making a better use of their abilities, as well as
receiving recognition in respect of their contribution. Staffs will be rewarded at a high-
level for motivating them in respect of achieving even better performance. Cash payouts
can be used in respect of on-the-spot recognition. The speakers also suggested that the
staffs should be listened at, and their suggestion should be considered regarding what
rewards might be working best for the company. In this respect, meetings as well as
surveys should be conducted that will be enabling the staffs for sharing their input.
Majority of the team members will be working more efficiently for carrying out a
decision that they have helped to influence.
6. Coaching or feedback – The speakers stated that it is essential for the organization to
provide feedback as well as coaching to the staffs so that there occurs the alignment of
their endeavors with the organizational goals as well as meeting the expectations. It was
also stated that, within the first few weeks on the job of an employee, the employer is
required providing rigorous feedback. In addition, the employers should also be
providing feedbacks that are considered being formal as well as informal to the staffs all
through the year.
Action Items
Agenda Item Time Who
1. Discussion on the current
issue regarding high attrition
rate within the Sales &
15 min CEO

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Marketing department of the
organization.
2. Discussion on training 10 min HR Head
3. Discussion on mentoring 10 min HR Head
4. Discussion on showing
appreciation via compensation
and benefits
10 min Sales & Marketing Head
5. Discussion on making
employees feel valued
10 min Sales & Marketing Head
6. Coaching or feedback 10 min CEO
7. Actions for next period 15 min All