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What's the best way to convince top management that you need to increase the budget for employees' retention ?

<p>What's the best way to convince top management that you need to increase the budget for employees' retention ?</p>

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Question added by Wessam Mostafa , Global Head of Talent acquisition , Delivery Hero, Carriage
Date Posted: 2015/01/11
Debjyoti Mishra
by Debjyoti Mishra , Sr. Manager Admin , Videocon Industries

The top management should be convinced that return over investment will increase the profitability

1. Recognising and creating a report for each resource in terms of the their achievements and CSAT score

2. Forecasting the revenue to be generated through the resource

3. Showcasing higher  ROI with smaller investments

4. How the resource tackled the situation and how knoledgeable the resource is

 

By projecting these pointers, we can convince the management in a better way about retention budget increment.

Dipankar Kalita
by Dipankar Kalita , general counsel , Provana India Pvt. Ltd

You need to be ready with the supporting data on which you can show the ROI of the same. Like the total cost of hiring and training and the cost of production loss may be due to attrition.

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