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4349 The World without Bankruptcy Laws

Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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Employee retention includes various steps taken to satisfy the employees so that they stay with the organization for a longer duration. Strong measures must be taken to retain the high potential employees who have spent a good amount of time in the organization and know it in and out. It is essential to retain the talented employees who are loyal towards the organization and can contribute effectively.

The team leaders and the supervisors play an important role in employee retention:

An employee quits his job whenever he faces problems at the workplace and is not satisfied with his work. The job must be challenging enough and the employees should learn something new every day for them to stick to it for a long time. It is the responsibility of the team leader to ensure that the team members are contented with their work and share a good rapport amongst themselves.

The team members must be assigned responsibilities as per their specialization, qualification, interests as well as experience. The team members must find their job interesting for them to enjoy and work hard to achieve the organization goals. The KRAs must be formulated in the presence of the employees. Let them decide what best they can perform. Problems crop up whenever there is a mismatch or the employees have to do something out of compulsion. Don’t compel anyone to do something. Let them accept the responsibilities willingly. An individual with an analytical bent of mind would not do very well in a marketing or branding profile. A wrong profile is one of the several reasons as to why an employee looks for a change.

An over burdened worker never finds his job interesting and would always be eager for a change. It is the duty of the team leader to distribute the work equally among all the employees. The manager should not be partial to anyone and treat all his members as one. He should not let negativity creep in the team. The superiors must have a control on their subordinates and make sure they do not fight with each other. Nothing productive comes out of disputes, rather it demotivates the individuals and prompt them to look for some another opportunity.

Rules and regulations should be same for everyone. Avoid granting special favours to anyone.

One should never fear his boss. Hitler approach does not work in the current scenario. A team leader should be a role model for his team. The team managers should not be arrogant and avoid misuse of their position. He should let all the team members participate in the decision making process. Every employee should have the freedom of expression and no one should be left out or neglected. The team leader should trust and respect his team members to expect the same from them.

The team leader should be accessible to his team members. Employees feel demotivated when their queries remain unsolved and there is no body to listen to them. When the team leader doesn’t have time for his team, the employees crib among themselves and wish to move on. The team leader must make sure to be with his team whenever required. He should support his team members always. Listen to their problems and try to provide a solution. Make them feel that you are there for them. A little care is essential to make them feel safe and secure. If you find any of the team members worried, intervene immediately. Minor problems left unattended can lead to severe stress later, forcing employees to look for a change.

The superiors must maintain transparency in communication. Every team member should get the same information from their boss for them to remain satisfied and loyal towards the organization.

The team leader must appreciate those who perform well. Give them a pat on their back. The hard work of the team members should never go unnoticed. The top performers must be given a special treatment to motivate them further and expect the same from them every time. The employees who have not performed well should also be asked to buck up for the next time.

It is the responsibility of the team leader to bind his team together. Take your team out for lunch once in a while for them to come closer to each other. Every individual expects peace at the workplace and looks for a change only when there is unnecessary stress at work. The team leader must promote healthy competition at the workplace.

A team leader should mentor his team well. Employees are reluctant to go for a change when they have a good boss.

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