Motivation as a Retention Strategy

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Increasing competition among the corporates for the right talent seems to have made the process of attracting and retaining talent, a Herculean task more than ever before. As the highly talented workforce in organizations enhance their skills and job-hop from one company to another, managers seem to be feeling the heat in battling abnormally high attrition rates. Motivating employees and retaining them in the current scenario is altogether a different ball game as compared to about five years ago so much so that employee retention has almost become synonymous with employee motivation. A motivated employee is satisfied with his job, more productive and more likely to stay with the organization. Therefore, a key issue to address while handling employee retention is the ways and means of motivating them. As is often said, employees do not leave an organization because it is bad; they leave with a hope to get a better set of people in another organization. If there is somebody who can make the difference, it is undoubtedly the leaders with adequate backup from the HR team and the management. The main objective of the book is to provide useful insights into various aspects of employee motivation and how motivation can be successfully used as a means to retain employees in an organization. The book also provides experiences in various industries/sectors as to how motivation can be helpful in enhancing the employee productivity and in retaining talent which, in turn, would improve the overall performance of an organization. This book attempts to capture those aspects of motivation which play a pivotal role in keeping the employee morale high, which will help mangers keep him bonded with the organization. An attempt has been made to explore various tools for motivating employees, which may be handy for the practising managers in dealing with attrition. The theme of the proposed book focuses on the well-established fact that motivated employees are not only productive but also committed to staying on with an organization.

ABOUT THE AUTHOR P.S.V. Ramana

P S V Ramana belongs to the 1974 batch of the Indian Army and left it as a Colonel in 2006. He is an MSc from Madras University, graduate of Defence Services Staff College, Army War College and also IIM, Lucknow. He is currently heading Icfai Research Centre, Hyderabad. Earlier, he commanded a combat unit in J&K, was on the faculty of Army Air Defence College, College of Air Warfare and been the Project Manager of â€˜Akashâ€™ in Defence R&D Labs.

ABOUT THE AUTHOR V.V. Ramani

V.V. Ramani holds an M.A., Phil and a PGDM from Madras University. She is currently working as a Faculty Member and Consulting Editor with ICFAI University. She has over 18 years of industry and academic experience. She is the Joint Secretary of National Human Resources Development Network, Hyderabad Chapter and Vice President of CEASE Child Labor (an ILO Project). Her articles have been published in various magazines and management journals. She presented several papers in various conferences and seminars. Her areas of interest include Economics disciplines like Micro-Economics, Macro-Economics, International Trade, Public Finance and HR disciplines like Leadership, Organisational Development, Human Resource Management and Networking.