Driving Employee Retention and Loyalty
HRIQ speaks with Wael Al bassam, Human Resources Managerfor ZamilIndustrial. Al bassam discusses how to develop a highly engaged workforce to lower your attrition rates.
Can you start off with explaining how cultivating a highly engaged workforce lowers your attrition rates and promotes employee retention?
When an employee finds that all what he /she gets from the employer is the salary, they might leave as soon as they get a better offer. However when there are other attractive factors that make the employee engaged, higher offers wont be enough to make the employee leave.
What initiatives has your company taken to create a more engaged workforce?
We have added many new benefits such as:
1- extra leave days for punctual employees.
2- reducing working hours per week to improve work/life balance.
3- introduce parents medical coverage plan upon renewal of contract of high performers. There are many other example and initiatives.
How would you recommend starting a career development plan to drive employee retention and loyalty?
This is definitely one of the most important concerns, especially for talent. When employees see that their employer has a plan and that the employer is willing to invest in their growth and development, they are more likely to become and remain loyal to your company.
How did you develop your management team to ensure they play a key role in keeping workers happy?
By raising awareness, managing change and also working closely with them as a business partner.
How has your customized benefits system improve employee satisfaction?
It was based on their feedback that we received in our annual surveys. We have selected the benefits which are most suitable and effective. And we are monitoring implementation fairly and objectively.
What are some other step-by-step ways to implement a customized benefits system?
There is no "one size fits all" type of system. It should consist of deferent levels to fit employees at different categories. The other thing is to try to get the pulse or reaction of employees before implementation. We need to make sure that this is what they want, and that this is what they would like to have.
Interview conducted by Alexandra Guadagno, Editor for Human Resources iQ.