Employee Engagement and Retention
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Employee Engagement and Retention
Milestone one: Employee Engagement and Retention
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Talent acquisition, employee engagement and retention, learning and development, and total rewards are essential elements of Human Resource. Organizations need to understand these elements to ensure success in achieving organizational performance and retaining top talent.
Talent acquisition
An organization may use some strategies in acquiring qualified talent. The first strategy is defining a brand. An organization should use the employer brand as a strategy to communicate to its potential and current employees. Providing a well-developed, well communicated, and definable employer brand to clients and business partners will help attract qualified talent (Deters, 2017). An organization can communicate the uniqueness of the business to the target group. For instance, an organization can define its brand by providing content featuring perks and benefits. This strategy is essential in hiring the right talent. This strategy supports organizational goals. This strategy may be used to communicate the aim of an organization and define the business strategies.
The second strategy is building a positive culture. Corporate culture involves beliefs, values, and myths that a company develops over time. Having a defined culture will make it easy to hire employees who will blend in with the organizational culture. To have a well-defined culture, an organization should identify the core values that outline its distinctive character. Organizational culture can improve qualified talent, retention, and employee engagement (Deters, 2017). For instance, an organization may invite employees to participate in the process of information gathering to define and uncover the organizations personality. A positive culture supports organizational goals since it may describe an organization’s shared strategies and goals. It may guide decision-making that will support the achievement of organizational goals.
Employee engagement and retention
The first employee engagement strategy is customizing employee engagement for company culture. The first step is by thinking about the best fit and best practice. An organization should place high importance on a concept that applies to organizational unique culture and objectives. One factor that should be considered is employment brands concerning rewards that highlight differences from competitors. Therefore, an organization should personalize rewards programs to fit the unique and specific needs of employees. For instance, an organization can integrate an employee rewards program by ensuring that employees earn points to spend on different rewards on different redemption levels. It may range from cash to any incentive reward they want. This strategy may increase employee retention since employees choose their specialized rewards from their points. They can also be retained due to different motivations, from financial compensations and benefits to professional recognition (Sharma, Chaudhary & Singh, 2019).
The second strategy is teaching leaders how to increase employee engagement. Employee engagement is achieved by understanding the management and leadership fundamentals. When leaders manage employees well, they will be engaged and stay with the organization. When they are not well managed, the organization may end up having poor engagement and retention. An organization should identify its specific needs. For instance, if an organization has several junior managers, it may launch a management development training program and consider having the key senior talent to mentor the group of junior managers. This may result in an increase in retention since the success of employees and managers are managed.
Learning and development
Learning and development opportunities can be used in attracting and retaining qualified talent. Learning and development program increases the chances of attracting and retaining top talent. Allowing employees to grow helps them believe in themselves and their potential and promote a sense of loyalty for them to stay in the organization. When organizations invest in employee learning and development programs, they promote sustainability and growth. Offering employees opportunities helps an organization attract and retain top talent. It is a way of committing to employees professional development (Latukha, 2018). This will contribute to the engagement and retention of employees. It can also be a competitive advantage when recruiting. Learning and development opportunities can be used in creating an employer brand. An example of a learning and development opportunity has a tuition assistance program and an internal employee training and development program. These programs are essential in providing employees with the ability to upgrade their skill set and advancement.
Total rewards
A total rewards strategy can provide beneficial, monetary, and development rewards to its employees after achieving set business goals. A strategy should have a combination of compensation and benefits for personal and professional growth opportunities. The first total rewards strategy is compensation incentive. This type of incentive is offered when an employee surpasses the standards. It can be offered as bonuses and seasonal awards, among other monetary compensation. It is awarded in addition to the regular income.
The second strategy is individual benefits. Benefits such as 401(k), health benefits, and paid vacation can be included in a total rewards program. Other benefits that should be considered are employee wellness programs and flexible work schedules to allow work-life balance (Graham, 2018). The third strategy is development opportunities such as training seminars and certification programs, among others. An example is offering skill-based training that will allow employees to gain new information and behaviors. The strategies support the organization’s goals since the reward strategies policies and practices attract, retain, and motivate high talent and support the achievement of organizational goals while providing fair and equitable pay to employees.
References
Deters, J. (2017). Global leadership talent management: Successful selection of global leadership talents as an integrated process. Emerald Group Publishing.
Graham, M. (2018). Employee Total Rewards Strategy: creating a new and relevant strategy for employee total rewards. LULU COM.
Latukha, M. (Ed.). (2018). Talent Management in Global Organizations: A Cross-Country Perspective. Springer.
Sharma, N. E., Chaudhary, N. E., & Singh, V. K. E. (2019). Management techniques for employee engagement in contemporary organizations. Business Science Reference/IGI Global.
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