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Despite,
employee retention being
one of the most popular
topics in the business world
today, not many people know
much about its various aspects;
what exactly employee retention
is, how their business is
effected by that & how
should you ensure retention
rates among valued employees
for staying high. Dakotta
Ventures assists organizations
in identifying the major
factors affecting their
retention, and help them
put forward various strategies
to increase the retention
rates.
Dakotta Ventures prepares
diverse pipelines of quality
candidates, using proactive
efforts to include members
of underrepresented groups
throughout the search process.
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Turnover
Costing –
This step involves identifying
the various costs associated
with employee turnover;
like separation, replacement,
training & opportunity
costs.
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Retention
Analysis –
Measuring the employee turnover
as a retention rate (versus
turnover rate) might prove
to be a useful way to address
employee turnover. The retention
rate approach begins with
all employees as a group
and follows their tenure
through time.
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Retention
“Driver” Identification
– Next step
would be to Identify Organizational
Factors. These factors might
be beyond an employee’s
control, but they are in
the control of Management.
In addition to this, there
are also individual factors
that are employee-oriented
and relate to what the employee
brings to the organization.
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Driver
Synthesis - Refine
and benchmark the way drivers
are “operationalized”
at the workplace level.
This means identifying standards,
practices, processes, techniques,
incentives, knowledge, etc.
that enables high performing
units to create a working
environment that leads to
higher rates of employee
retention.
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Implementation
Assistance –
Helping the firm’s
management team in the process
of implementation of identified
solution to increase employee
retention.
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Results
Measurement - Measuring
the relationship of retention
to targeted business metrics
as well as follow-up measurement
of solution applications. |
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