27Dec
Optimal Human Resources Management

The Four P’s to Avoid Employee Resignations

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The youthful generation, now entering the workforce, feels more empowered than ever to find a career they enjoy. Such a scenario implies that they will go from one job to the next until they discover their ideal fit.

Effective human resource management is required to ensure employee happiness and retention. In case of a resignation, employers must also manage the complete exit process of employee to reduce compliance issues and maintain consistent off-boarding of their valued employees.

The Shifting Tide of HR Trends in 2022 and Beyond

Technology has permitted a never-ending employment search for upcoming youthful employees. According to Statista, based on survey data collected in February 2022, the most significant reason for quitting a job in 2021 was insufficient compensation.

Lack of career advancement was also frequently stated as a reason for resignation. As a result, HR professionals constantly seek new ways to optimize human resource management and keep their eyes peeled for better chances in the periphery.

Here are the ‘Four Ps’ you can deploy to avoid the hassle of going through a tedious employee exit process:

Provide Opportunities in Terms of Growth

Check in with employees regularly to learn what aspects of their employment they like the most. Inquire about what else they’d like to know. Allow them to shadow you or others in the firm who can teach them desirable skills.

Opportunities for advancement and leadership responsibilities should be trumpeted into their ears. Make a clear route for them to follow with tactical steps they may take to acquire those responsibilities.

ConfluxHR may assist you in communicating successfully with your resources in this situation by providing enhanced tools for managing, administering and tracking learning and development programs, one-on-one dialogues, and so on.

Going further, according to Statista, as of 2021, 49% of job applicants regarded career growth possibilities, employer ethics, and values as other key factors in assuring job satisfaction.

Pay Your Employees Practically

Overall compensation was the most important criterion for job seekers accepting work in both 2021 and 2022. This percentage climbed dramatically throughout this period, with a 15% increase in respondents claiming this as their primary reason for accepting a job in 2022.

Furthermore, Statista stated that respondents in 2022 were less concerned with corporate location, company values, and job security than they were in 2021.

ConfluxHR’s Performance Management Module can help you manage employee performance and evaluation issues. You may give employees bonuses to encourage hard work. Compensating staff for extra effort done for the organization goes a long way in terms of employee loyalty.

Prioritize Employee Health First Policies

If your employee is happy and healthy, they will work hard for your company. Aside from including therapy and medication coverage in your benefits package, there are various other ways to encourage employees to live healthy lifestyles.

As part of a benefits package, you may include a gym membership. Allow staff to arrive late or depart early once a week to attend a yoga or group exercise class. Work with employees schedules to ensure that personal health initiatives are balanced with office hours.

Praise Employees for Excellent Work

Employees must understand that what they do for your company is important. If you don’t show them how they can make a difference, they’ll move somewhere that does. Make time during the day to congratulate the staff for their efforts. It may even start by saying, “You’re doing great today!”

Such practice reminds them of their fantastic job and explains how they’re an important part of the team. According to a survey done in India between December 2021 and January 2022, 44 per cent of full-time employees were satisfied with their current job.

It will foster empathy and understanding between the two roles.

Conclusion

Employees will become increasingly difficult to keep; since technology allows us access to vast amounts of data regarding employment. Your employer brand is on the front lines versus competing organizations that threaten to take better care of your talent than you.

Keep in mind the ‘Four Ps’ to keep your talent from going elsewhere. ConfluxHR, on the other hand, may also assist you with the employee leave process. Our HRMS Platform offers comprehensive human resource management services, from recruitment to employee exit process management.

Are you interested in learning more about how ConfluxHR can establish a systematic human resource management approach for your team?

Sign Up for the on-demand ConfluxHR live demo.

Also read: 10 Factors for an Employee Resignation

26Dec
Employee Exit Process

10 Factors for an Employee Resignation

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Good managers understand how costly staff turnover can be. They work hard to keep their organization’s costs to a minimum. You can only retain some employees, no matter how nicely they are treated. Thus, every organization necessitates a robust leave management system.

On the other hand, some employees are welcome to depart, and maintaining a proper employee exit process may aid in long-term compliance management for an organization. The cost of employee turnover is high.

Apart from the obvious financial costs of replacing them, an employee exit process might have a detrimental influence on the morale of their coworkers. This might wreak even greater havoc on their workers. Given the significant expense of finding, hiring, and training employees, it is critical to prioritize employee retention initiatives.

Do You Need Help Retaining Your Top Employees?

Here are ten frequent reasons why employees leave their employment, as well as tips on reducing employee turnover.

Employees Believe They are Underappreciated and Undervalued

It would be best to inform employees regularly that their contributions are valued. Appreciation does not have to be extravagant rewards or monetary incentives; it can be as essential as verbal praise and pleasant feedback.

Inadequate Communication About Compensation

Fair remuneration is an essential aspect of lowering turnover. However, it is equally crucial to be upfront regarding wage increases and to provide an explanation if one is rejected.

Employees will feel more respected by their company if they are supplied with clear information and transparency regarding salary.

Inadequate Work-life Balance, Vacation Time, and Flexibility

Employees are no longer expected to be linked to their desks from 9 to 5. With many people working remotely during the epidemic and juggling work and home lives, employees are looking for organizations that offer more flexibility regarding work schedules, locations, and hours.

A leave management system is necessary to avoid this discrepancy.

Without Proper Communication, Management Changes and Restructures Will Occur

Businesses that need to plan for and convey organizational changes risk losing essential staff. Coaching employees most affected by the change is part of change management to sustain morale and ensure a smooth transition.

While you may have some of the necessary information, the more you can provide, the better!

Outdated Machinery and Equipment

Outdated or difficult-to-use products may encourage personnel to flee, whether warehousing equipment or computers. Business technology is now critical to how businesses run, from optimizing processes to maintaining communication while working remotely.

Updating workers unhappy with obsolete technology may cost more in the long run than replacing the tools.

Unrealistic Goals and Performance Targets

Setting realistic performance targets is critical for employee morale and your company’s financial goals. These objectives should be reasonable and well-planned. Employee retention will improve if managers recognize and reward their staff when they meet or exceed their goals.

After all, each employee’s achievement contributes to the company’s success.

A Lack of a Clear Path to Advancement in One’s Career

Closely related to performance objectives is giving employees a clear picture of what an internal promotion for their position looks like and what they can do to get there. This is a tried-and-true method of retaining staff while keeping them motivated.

With clear guidance, they may feel safe and seek advancement elsewhere. Companies can reduce turnover by providing a path for employees to advance within the organization.

They Believe Their managers are Unsupportive

People abandon bosses rather than jobs. Bad managers are one of the most significant contributors to employee turnover. If your organization needs help with employee retention, try educating your managers on how to solicit feedback, confess mistakes, and tailor their management style to the person.

The Company’s Branding Is Weak

Employees care more than ever about their company’s ideals and reputation. Company branding is how the general public perceives your firm and what workers can expect if they choose to work for you.

Being active about social issues, supporting working parents in the company, or marketing amenities like a gym membership or free lunches are all examples of branding.

The goal of employer branding is to attract applicants who share these values. That said, it’s critical that these beliefs are genuine, or prospective employees may feel misled and decide to quit.

Employees are not feeling challenged.

A bored employee will likely look for a new, more challenging position elsewhere. While any work requires some repetition, giving staff more difficult duties is an excellent approach to keep them. It shows that you believe in them and encourages them to be creative and continue to grow.

Conclusion

Companies invest a lot of time, energy, and money in attracting and hiring the appropriate people. Therefore it pays to prioritize the employee exit process and employee retention methods in your organization!

How your employees feel about working for you is vital to the health of your organization.

Start managing your HR seamlessly and making them feel valued by requesting a free ConfluxHR demo today. ConfluxHR’s exit management module aids in the systematic resignation of an employee.

Also read: An Overview of Leave Types In A HR Management Software.

09Dec
Employee Exit Process

A Guide to Avoid Compliance Issues During Employee Exit Process

confluxhrHRMS

Resignations are an inevitable part of any company, especially a developing one. You can accept a resignation in stride at times. However, now and then, you will encounter unforeseen circumstances.

As an employer, you will undoubtedly confront the unavoidable – a resignation.

Dealing with the employee exit process correctly and methodically eliminates unwanted hindrances. Here’s a step-by-step guide on handling a resignation to make the transition easier for the employee and the firm.

Acknowledge the Employee Resignation

When you receive a resignation request from an employee, acknowledge it and inform the employee that the process has begun on your end.

After that, proceed with the steps outlined below:

  • The reporting supervisor and the HR manager should work together to decide the employee’s retention status.
  • Arrange an informal discussion with the employee to discuss whether or not you can keep them. Otherwise, consult the notice period, handover method, and any outstanding assignments you’d need before the person leaves.
  • Determine whether you want to hire a new employee to replace the employee. If you need to recruit someone, you should begin the process as soon as feasible.

Negotiate with the Employee

If you believe the employee is worth going the additional mile to keep, you must first grasp what it will take to save him. A raise or a promotion will usually cause the employee to reconsider their decision.

However, if the problem is more severe and you cannot persuade them, it is essential to demonstrate support for their decision.

Communicate the Notice Period

Once the resignation has been mutually accepted, determine the employee’s last day of employment. The notice period can be defined on the day of joining the employee.

The Hand Over Process

The job handled by the retiring employee must continue once he is gone. Request that he passes on his access to company sites, or any work in progress, to a colleague or the recruit.

The Final Exit Interview

It is critical to have an exit interview after the notice period to ease the employee’s leave. Having this interview close to the last day allows the employee to be more open about his opinions.

While this may appear to be a formality, it may answer some critical personnel management concerns correctly. Here are some questions you should ask at a departure interview:

What Made Them Leave?

  • What Might You Have Done Differently to Avert Your Resignation?
  • If Not, Then Why? / If Yes, Then Why?
  • Did They Have the Necessary Tools to Do Their Work Well?
  • What Did They Enjoy Best About the Company?
  • What Did They Not Like About The Firm the Most?

You should note the responses to these questions for further analysis. Keeping a record of exit interview responses will aid in identifying HR issues and reducing attrition rates.

Relieving Formalities

Finally, verify that all leave processes have been completed before the employee’s last day. You could set up a process in which the employee must receive an acknowledgement from appropriate supervisors before leaving.

This guarantees that all outstanding tasks have been finished and all relevant handovers have been accomplished. In addition, ensure that any products supplied to the employee have been returned. Here’s a brief list of items the employee may need to return before they leave the organization:

  • Laptops
  • Keys for Office/Drawers etc.
  • IDs and Access Cards
  • Company Cell phone
  • Company Credit Card

F&F and A Letter of Relief

It is now time to process the employee’s final settlement. It is also a great initiative to send staff a good-by letter on their last day. This would leave the employee with a favourable impression of your organization.

Here is a list of things you should include in their compensation package.

  • Unpaid Salary, including LTA
  • Reimbursements
  • Incentives
  • Remunerations
  • Gratuity, if applicable
  • Pension, if applicable

Once the funds have been processed, send the employee a resignation letter. Remember to include the tenure, designation, and remuneration in the letter.

Aren’t You Tired of Cumbersome Employee Exit Processes for the Sake of Compliance Management?

Following a set procedure avoids unnecessary delays and smoothens the transition for the employee and your business. However, you can simplify these processes with just a few clicks!

Employees can apply for resignation through ConfluxHR with just a few clicks. It also allows HR administrators to track, manage, and process all voluntary and involuntary resignations.

Here’s Everything ConfluxHR Gives You for a Smoother Employee Exit Process:

Resignation-Application & Management Made Simple

Employees can resign with just a few mouse clicks. When you receive an employee resignation request, the concerned reporting manager and HR are immediately alerted.

When our HRMS receives a resignation request, it immediately sends an acknowledgement email that you may personalize to meet the needs of your firm.

Adaptable Retention Questionnaire

The system can save these predefined groups of queries. These questions can help you protect your essential resources. The technology also keeps employee input, which may be studied and used in the future.

Furthermore, the reporting manager can create a one-on-one meeting request to discuss the terms of employee resignation.

Capability to Schedule Exit Interviews

The reporting manager or the employee may use this function to initiate one-on-one exit interviews to negotiate the terms of the resignation.

Relieving Letter & FnF Settlement

The HRMS Platform automatically generates a release letter for employees who fail the organization’s retention attempt phase. On a successful employee resignation, the HRMS also determines the employee’s compensation after calculating all deductions.

With ConfluxHR, you can automate the organization’s exit processes, starting from employee resignation application, to FnF settlement and relieving letter generation. Let your HR focus on organizational change, while ConfluxHR automates the core HR processes.

Would You Like to Automate the Tedious Legally Compliant Employee Exit processes?

Schedule a Demo with ConfluxHR to experience a more straightforward, smoother, and compliant employee exit process.

16Nov
Simplifying Layoffs using HRMS!

Lay Offs- The Better Way to Enhance Exit Experience

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How can the elephant of the name escape our attention regarding resource management? A layoff is a buzzword today, and the A-listers have extended enormous contributions exemplifying the sudden layoffs. Undeniably, we know the employees’ side of the story. Here is an overview of the other side.

Detaching work associated with an employee is not an easy option either way. It is an unpleasant situation with a series of formalities making it even more awkward. However, HR Managers can make this process super healthy and approachable.

How can haphazard offboarding make it worse?

The dangers of haphazard offboarding can have multiple repercussions. Determining the offboarding checklist is one of the most crucial aspects of the operational readiness of an organization. However, your employees must be aware of those steps after creating strong offboarding policies.

  • A haphazard process can often lead to awkward situations.
  • Manual management can often lead to skipping document formalities.
  • Poor timing and miscommunication often muddle the image of the organization.

Ultimately, it not only harms the brand image of the organization, but it also hampers the operational flow. Businesses often focus on other resource management processes and ignore exit management’s importance.

How can an HRMS help you manage your Exit Process superiorly?

HRMS has several benefits in terms of resource management. However, in this section, we will highlight the benefits of HRMS concerning the offboarding process.HRMS streamlines the offboarding process in the remote work culture

  • HRMS streamlines the offboarding process in the remote work culture
  • It standardizes the offboarding process
  • It makes the process efficient
  • It protects the brand of the employer
  • It simplifies the adherence to compliance

HRMS can save several working hours for your business. Besides, it can make every process of resource management super-easy. Exit management has a series of formalities. You can manage your long offboarding checklist at a go with an HRMS.

ConfluxHR is one of the most acclaimed HRMS solutions that can help you in all resource management processes. It leverages technology to help you optimize the business process and save your annual working hours to a great extent.