Employee Retention

1.0 Introduction

Employee retention has turn out to be a most important concern for corporate in the current scenario. Individuals once being trained have a propensity to move to other organizations for enhanced prospects. Comfortable timings, better ambience, lucrative salary, enlargement prospects are some of the factors which prompt an employee to look for a revolutionize.

Whenever a talented employee expresses his eagerness to move on, it is the responsibility of the management and the human resource team to intervene immediately and find out the exact reasons leading to the decision.

Within a work environment where the war for talent is making it tough to find qualified workers and key skills are estimated to become even scarcer, the

Top employees improve companies in more than a few ways: by maintaining balance and productivity within the workplace, ensuring customer satisfaction, and driving product development and innovation onwards and upwards.

2.0 Needs of employees retention.

By implement the retention of brilliant employees in the organization, the organization can gain a lot of benefits. Anyhow, here are the needs of employee retentions.

2.1 Significant cost savings

The expenditure of turning over a staff position can be somewhere between one third and three quarters of a person’s annual salary cost. On top of that, it will reduce down time. It also restrictions the cost of having knowledgeable staff redirect to mentor the new worker until they are convinced and capable in their role. Besides that, cost saving can be in terms of the secondary costs linked with other staff departure due to misplaced relations and innovative and changed

They take pleasure in all kinds of benefits from the organization and as a result are more emotionally involved to it. They barely badmouth their organization and constantly think in favor of the management. For them the organization comes first and all other things later. This is good for company therefore, the company should retain those loyal and yet good staff.

3.0 Benefits of employee retention to company.

It is indispensable for the organization to retain the valuable employees showing potential. Every organization wants meticulous and talented employees who can in actuality come out with something imaginative and different. No organization can continue to exist if all the top performers quit. It is crucial for the organization to retain those people who really work hard and are indispensable for the system.

The management must understand the differentiation between a valuable employee and an employee who doesn’t have a say much to the organization. genuine efforts must be made to give confidence the employees so that they continue happy in the current organization and do not look for an adjustment in