Baird is a financial institution that has been enlisted as one of the FORTUNE 100 Best Companies to work for in the year 2011- a rare achievement that many companies aspire to attain. According to the Baird CEO, the success of the company is attributed to the passion, expertise, and high level of commitment employees always have for the company.
Some of the commonly used retention strategies the company (Baird) would find relevant today include providing a conducive work environment for all employees. The Human Resource department of the company needs to create a rich organizational culture with the sole intention of engaging, attracting, and building an undying loyalty among the most gifted employees. Additionally, good remuneration, effective communication, improved terms of service, better employee benefits and elaborate reward systems for exemplary job performance.
I would recommend Baird not to make use of the legal contacts to retain employees for a given period of time as stipulated in the conditions of the contract like other organizations do. This strategy is sort of coercive and employees hence employee will not find fulfillment, satisfaction and motivation in doing their routine work. Therefore, there are higher chances that they will not cheerfully attend to clients with enthusiasm as they always do.
Recruitment and selection plays a very important role is the retention of employees. This important function of the Human Resources Department guarantee careful selection of only qualified candidates who have a deep passion in their work. Recruitment of highly qualified team with a proper training and experience in the relevant field of expertise perform with duties easily therefore they will be retained by the company. Recruitment and selection process varies from one organization to another because different organizations have different goals, values, mission and vision that guide their operations.