how to retain people when there is solid competetion in the market? what messures are there to improve their motivation ?

1) Ensure transparency in work place

2) Long and Short Term Recognition Schemes and Benefits linked to Appraisal Grading and Performance

3) Opportunities for Job rotation and Growth in the organisation

4) Perks and benefits which take care of family -like family health insurance,holiday trips ,Company accomodation ,etc

and above all Strong Human Values based on Humility and Professional Ethics

First and foremost the company should make the people feel like a part of the family.secondly the company should be transparent to all its people.  If the company is not doing well then all the employees should be aware of the situation. And motivate them to fend off these testing times and unite together to get our family out of this trouble by working harder than usual. This feeling of owning the family will give complete attention to the affected areas and bring out the best in each employee.

To be very specific the company should try to unleash the true potential and identify the real strength and weakness of the employee. At the same time the employer should upgrade the skill sets and give them new challenges in the future perspective

People with right skill in the right job is the essential for the organisation's success and when the competition is high it is high skiiled people aligned with organisation strategy can give organisation a desired competitive advantage.

But in my belief people management should never varied according to good or bad times. organsation should ensure the availablity of " Employment Value Propsition" to its employees always irrespective of good or bad times.

Attributes like:

1 Adequate compensation, 2) Work environment, 3) Trust, 4) Relationship with supervisors, 5) communication, 6) learing opportunity, 7) Career opoortunity, 8) Work life balance etc can make the employees more ekgaged and committed towards his/her organsiation.

To retain employee in competitive environment I think companies should adopt incentive schemes as per industry. Each industry has different kind of employees and schemes should be made accordingly- 

Just for example in Finance, IT, Marketing etc .

1. Companies can provide subsidised education from top institute which could be difficult for some aspiring candidte to take these kinds of course due to financial constraint.

2. Show them future goal in the organisation.  

In BPO/ Call Center where mostly the young people work, companies can provide weekly- montly parties etc. to motivate employees.  

Apart from this I feel that incentives can be made gender or age specific to motivate employees.

According to me, when there is solid competition in the market, to retain employees, their skills should be updated with every latest technology and skills in the market. They should be trained in the company which will prevent company loosing its experienced workers. By training them, they will not only be updated with the latest skills and technology, but also with accordance to the already experience they are possessing in the company, they will become more fruitful to the organisation itself....