In today’s competitive market, retention of staff in Asia has become a serious issue for all business owners. Retaining staff in Asia is regarded as one of the biggest challenges for the success of any business organization; no matter it is small, medium, or big corporation.
In other words, retaining key staff is crucial for the long term success of a business organization. Effective staff retention not only allows to maintain your existing employees but also to attract high potential employees to your organization. Further, it can improve productivity, thereby enhancing ROI (Return on Investment.)
Today, many of the business set ups in Asia have realized the importance of staff retention, and as a result, majority of the companies in the Asia Pacific region have taken innovative steps to retain their key employees.
For instance, as per the recent survey records, Indian workers enjoy the highest salary increases, as a part of the retention strategies adopted by many of the firms in the country. Likewise, employees working in Chinese and Indonesian companies are also benefited from innovative retention strategies. Hence, no exception in the case of people working in other Asian nations including Hong Kong, Japan, Taiwan, Korea, and Malaysia. Mentioned below are some of the tips to retain your prized staff in Asia.
A lot number of options are now available to keep your valuable staff happily on board. As a first step to retain staff in Asia, it is advisable to hire the most successful candidate to fill the employment gap in your organization. The next step is to take care all of your staff as your invaluable client.
In other words, treat your employees as your partners and not as hired hands. Since it is quite expensive as well as chaotic to hire and train new employees, it is important that you treat them properly by compensating them fairly. Perhaps the most popular ways to retain Asian employees is to offer them competitive salary, which should be increased periodically. Apart from regular salary, the employees must be provided with beneficial packages. This in turn enables your staff to stay committed to your organizations.
However, money or salary increment is not alone staple for retaining staff in Asia. When any of your employees perform something unique, praise him with some kind of tangible items such as a watch or a fine dinner. If possible, admire him in front of his peers to let them know what unique he has done.
However, praising should not be embarrassing. It should be just to convey others what has set apart him from other employees. Similarly, on the successful completion of a team work or a tiresome project, don’t forget to honor each member of the team by saying ’well done’ or giving them a small gift in the form of a pen or corporate gift sets.
For successful retention of employees, it is also important that you give your employees a lot of freedom to express their ideas freely. Likewise, provide your employees with opportunities for personal and professional growth. Arranging innovative classes and conducting professional seminars would be helpful to promote the growth of employees.
Since the employees’ mental and physical fitness have great impact on a business’s success, it is vital from the part of business owners to encourage them for their good health as well as wellness of mind and body. For this, you can either engage a private Yoga instructor or gift them a gift certificate for a refreshing therapeutic massage. Further, an employee could grow in an organization only if he is provided a creative as well as challenging work environment.
In addition, as a part of employee retention, an effective operating system or a handbook consisting of policies and procedures of the organization is essential. This in turn allows employees to get an idea of the firm and effortlessly carry out a myriad of duties and responsibilities. Above all, a great way to retain staff is to conduct surveys to know the actual requirements of employees.
Nowadays, a plethora of specialist recruitment firms are in the scenario to render effective employee retention solutions to business organizations. These firms offer a range of services, from pre-recruitment procedures to recruitment and maintenance solutions.