Frequent guest contributor R Karthik shares the Retention Quotient Instrument (Click on above image to see it in detail)
When i came across this instrument on National HRD network's quarterly journal of May '07, the first thing i did was rate my organization on the parameters of how retention-focussed we are. I realize now, when iam having to broadcast it to an audience that i haven't done a fair job at all with my hand-writing. My responses to the closed-ended questionnaire are given below:
Q1. No such approach followed for all lateral hires in all levels, but may be yes for freshers (partial-yes)Q2. Experience (in years) & skills alone drive the selection decisionsQ3. Not instituted as a practice and discipline not found in operationalizing it as a org-wide standard format (partial-yes)Q4. NoQ5. Only long-service award to employees (partial-yes)Q6. Only appraisal feedbackQ7. MITR (employee professional assistance program) & GENIE (personal shoppers & assistant program)Q8. Weekly polls & policy meetingsQ9. Annual Employee Engagement SurveyQ10. Launch of automated system for enhanced separation experienceQ11. BPR initiatives & Employee 1st programQ12. No critical-turnover analysis (partial-yes)
In toto, 6 affirmative ratings and 3 'partial-yes' ratings give my organization a score of 7&1/2 on a scale of 12.
This is a good-way of taking stock of where you stand as a HR organization on an important aspect called 'Retention-Quotient'.(There goes the jargonizer in me:) )