Theories Of Employee Retention

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a) Employee Retention: Employee retention refers to the ability of an organization to retain employees. It is very important to draw a distinction between high performer employee retention and low performer employee retention. It is extremely important to retain high performers as they contribute to the overall success of the organization. Employee turnover or attrition is generally a symptom of larger issues. These issues are low employee motivation, low job satisfaction, absence of a well-defined career path, lack of recognition, poor relationship between employee and the manager.

Organizations can address issues related to employee turnover by creating specific programs; Career Development: It is very important that Managers and HR understand
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If a person values a particular facet of the job, his job satisfaction is impacted positively whereas it is impacted negatively if he does not value a particular facet of the job ii) Dispositional Approach: According to this theory, job satisfaction is dependent on the personal traits of individuals. Another model that has narrowed the scope of dispositional approach is the core self-evaluation approach. According to this model, self-esteem, self-efficacy, locus of control and neuroticism determine the level to which an individual is satisfied with his/her job iii) Equity theory: According to this theory, a person evaluates his job satisfaction with regard to the fairness in his relationship with employer. For example, if two employees do the same work but yet one gets an higher pay than the other, the employee with the lower pay is dissatisfied in the job according to this theory as he has not been treated fairly by his…show more content…
Also, demographics represent only surface level diversity and not conflicts related to values, emotions, thoughts and feelings which represent deep level diversity. Research in this aspect has shown that while it is easy to overcome issues related to demographics, issues related to deep level diversity are harder to manage.

Having identified the types of diversity, we can now look at how both surface level and deep level diversity in an organization can be managed. One of the ways of managing diversity is to create targeted recruiting messages to specific demographic groups that are under-represented in the company. To ensure success of diversity management in the recruitment process, managers to need to value fairness and objectivity in ensuring a bias free approach.

Diversity also plays a key role in team dynamics. As suggested earlier, demographic diversity does not play a significant role in team dynamics. However, diversity in form of ability, conscientiousness and perspective does influence ability of teams to work together. Regardless of differences, in order to manage an effective work force, it is important to highlight similarities amongst the members in a way such that members have common interest in group’s
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