Employee Retention Policies And Practices Essay

2266 Words10 Pages
Abstract
Effective employee retention is a systematic effort by employers to create and foster an environment that encourages current employees to remain employed by having policies and practices in place that address their diverse needs. These practices are used to prevent valuable employees from leaving their jobs. How to retain valuable employees is one of the biggest problem that plague organizations in the competitive marketplace. Nowadays, employee retention is the most critical issue facing hotel managers as a result of the shortage of skilled labor, low economic growth and employee turnover. A wise management will learn how to attract and keep good employees, because in the long run, this workforce will make or break a hotel 's reputation. The purpose of this research is to: 1) assess employee retention policies and practices designed and applied in floating hotels, and 2) describe the importance of retaining critical employees and developing strategies to enhance employee retention practices, and 3) determine the factors that most significantly influence employee retention to meet the diverse needs of employees and create an environment that encourages current employees to remain employed. The results of this study were clarified that compensation, fringe benefits and job satisfaction play a vital role in employee 's motivation which leads to employee 's retention. Similarly, Training, career development and recognition were found motivating factor which leads to
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