It is the most crucial resource on which the Information Technology & Information Technology Enabled Services (IT & ITES) depends. Retaining information technology & BPO sector employees has been a problem in many organizations for decades. The HR managers have been facing a tough time in finding a suitable replacement with required experience and ability, to fill up the vacancies created on account of exit of key employees. When key soft-ware developers quit, they depart with critical knowledge of business processes and systems that are essential for maintaining a competitive advantage. Therefore, it is essential to protect this vital resource, as talented and motivated employees play a crucial role in overall development, growth and success …show more content…
Employees are considered to be the most valuable asset of the organization. It is important to protect this vital resource because the talented and motivated employees play a very important role in the overall growth and development of the organization, but the biggest problem faced by the BPO sector is the problem of attrition in this modern era. Attrition rate in BPO sector is much higher than the attrition rate in any other sector so it is very important to control this attrition rate. To control this attrition rate many retention schemes are applied in BPOs to retain the employees. A single method of training and development alone is not sufficient for employee retention. The best results can be achieved by applying different tools strategically and taking various measures to encourage employees to remain in the organization for the maximum period of time. There is a process in which the employees are encouraged to remain with the organization till the completion of the project. Employee retention plays an important role both for the employee and for the organization also. It is a known fact that retaining the best employees ensures customer satisfaction, increased productivity, increased product sales, effective succession planning and deeply embedded organizational knowledge and learning, satisfied colleagues and reporting staff, …show more content…
They are not the ones who don’t have good opportunities in hand. Whenever they feel dissatisfied with the current job or the employer, they switch over to the next job so it is the responsibility of the employer to retain their best employees in the organization. If they don’t, they would be left with no good employees. A good employer should know the techniques of how to attract and retain its employees. To retain the employees every organization invests a lot of time and money to groom a new joinee, make him a corporate ready material and bring him at par with the existing employees. So when a fully trained employee leaves the organization it brings a great loss to the employer. Employee retention takes into account the various measures so that an individual stays in an organization for the maximum period of
This does not mean every employer should be stuck with a bad employee, it only means every employer should give employees a fair opportunity to succeed. If an employer gives an individual a fair shake at employment and determines the individual cannot be mentored into successful employee, the employer still has the right to terminate an employee "for just cause"(Aamodt, 2016, p.275). Human Resource Management practices can aid in the process of mentoring
These specialists explain that companies (human resources of companies) need to “focus on the human element of their companies”. Including that with today’s generation, HR needs to utilize different communications and management with the newer
Introduction: Popeyes is a popular fast-food chain known for its delicious fried chicken, biscuits, and sides. However, it has been facing issues with retaining employees, which has been affecting its overall performance and profitability. The purpose of this report is to analyze the problem and suggest solutions to help Popeyes improve employee retention. Problem Identification: Employee turnover is a significant challenge for the restaurant industry, and Popeyes is no exception.
Healthcare organizations (HCOs) face a number of difficulties within its organization each day, including patient acquisition and patient retention. It is commonly believed that getting individuals to their healthcare facility is the most challenging aspect that HCOs face. Of course, new patient acquisition could be a challenge without an efficient marketing strategy, but the challenge does not stop there. One of the biggest challenges for many practices today is maintaining a high patient retention rate. Pushing a patient from a one-time-visitor to becoming a frequent visitor of a specific healthcare organization involves much more effort than expected.
Nurse turnover is a recurring problem for health care organizations. Nurse retention focuses on preventing nurse turnover and keeping nurses in an organization’s employment. However, decisions about nurse turnover and retention are often made without the support of full and complete knowledge of their associated costs and benefits. This article identifies common nurse turnover and retention costs and benefits, discusses the use of benefit-cost and cost-effectiveness analysis relevant to nurse turnover and retention, and calls for the construction of a business case for nurse retention. It also provides a foundation for including the costs and benefits of nurse turnover and retention in estimating the economic value of nursing.
The next success factor is the "employee loyalty/retention" (2). When a company is able to keep workers for long periods of time it shows that the company is
Some of them that I have personally experienced are mainly when they are not happy with wages. They are not happy with what they are paid and some of them are underpaid for the amount of work they do. This leads to decreased motivation and interest in working and they look for opportunities to take a leave from the work and even pretend sick when they are not. They even look online for better opportunities where they can be paid more for the same work. Secondly, many of the employees in the hospitals have fixed job status for a very long time and when there is no scope for any growth, they get frustrated and it is seen in their performance and when they get any offer from other organization even for the same position with higher salary they tend to move out of the organization.
These empowering features in the workplace will potentially promote job satisfaction, create greater productivity, and most importantly promote retention of valuable employees. The key to retention is creating and keeping an environment where all of the generations feel welcome and valued. There have four important things to staff retention in organizational is relationships, value, eengagement and health care organization policies. 2.1 Relationship The important of staff retention is relationship with manager.
Without a doubt, retention remains a perennial problem for most large organizations; and in no other field is retention of qualified and dedicated professionals more critical to both the organization and its clients that the field of healthcare. Staffing hospitals, clinics and other medical facilities stands as a critical challenge due to the fact all patients need and deserve high-quality health care delivered efficiently and on time. The consequences are simply too great to consider any other possibility. Yet, hospitals and medical-care facilities seem to be suffering from a disease or high turnover rates as patient care providers leave for better opportunities or leave the field altogether due stresses caused by understaffing. Fortunately
Their desire is to earn profit, but not at the expense of their employees, environment, customers, or the law. This is what makes the company’s business plan desirable. Not only is the company extremely profitable, but the model is built to last. The lack of turnover reduces the company’s expenditure exponentially. When a company treats its employees well, they want to remain at said company.
With big data, HR has exceptional opportunities to become more data driven analytical and strategic in the way it obtains talent. Utilizing the power of big data, any organization can hire and recruit the right candidate for every position much faster and cost effectively. Most of the companies have shifted their legacy systems to the cloud, more and more people-related data becomes available. This,
INTRODUCTION Human resource management is the strategic approach to the management of an organization 's most valued assets - the people working there who individually and collectively contribute to the achievement of the goals of the business (Armstrong, M., 2006). In other words, human resource management is a to work with employees, and for the employees, to help them solve their problems. Therefore, human resource is a complicate department, as they deal with people who already work there, they also deal with several issues which happen among new employees, such as recruitment, selection and so on. Nowadays, employee retention becomes one of the most significant issue in the organizations, and managers are aiming to find the best employees
This section reviews theories on employee retention. 2.2.1 Herzberg Two Factor Theory Frederick Herzberg (1959) two-factor theory is also known as the motivation-hygiene or the dual-factor theory. Herzberg’s theory states that certain factors in the organization related to the contentment of the job which provides satisfying experience for employees while separate set of hygiene factors cause dissatisfaction among employees in the workplace. The former factors are called motivators or satisfiers and include achievement, recognition, the work itself, responsibility, opportunity to do something meaningful, sense of importance, advancement and growth while the former factors are known as hygiene factors such as job security, fringe benefits, salary paid
Organisations have long struggled to retain employees without pouring in too many resources into incentives, however there are many other factors that influence the motivation for an employee to work for an organisation. The following factors are very important to retaining employees: ➔ Vision and Mission: Each organisation has a vision set by its leaders, a ground basis on which it stands for. This vision is the key for driving innovation, research and development for the company. Vision is also the driving force and motivation for its employees, to push their limits and to outperform the competition.
Create a comfortable and healthful environment. Employee retention is significant for the lengthy-time period, development and success of the corporations. So, eventually if we truly respect, appreciate, and treat the staff proper we can never lose them. Employee retention could be very beneficiary for the organization as well as the worker. It is the sole responsibility of the management to keep the best expertise.