Employee Retention Strategies

2620 WordsMay 6, 201311 Pages
EMPLOYEE RETENTION STRATEGIES: Abstract: Every organization invests time and money to groom a new joinee, train his employee’s & make ready material competent with the existing employees. All organizations aim to serve the needs of the people. All organizations are not only run by employees, but also it is the employees in it at various levels who bring success to the organization in these modern times. Hence retention of the employees within the system is necessary. The organization is completely at loss when the employees leave their job once they are fully trained. Thus recruitment of qualified employees, training and maintaining them becomes important. Employee turnover reduces the organizational productivity and also…show more content…
▪ Every individual needs time to adjust with others: One needs time to know his team members well, be friendly with them and eventually trust them. Organizations are always benefited when the employees are compatible with each other and discuss things among themselves to come out with something beneficial for all. When a new individual replaces an existing employee, adjustment problems crop up. ▪ It has been observed that individuals sticking to an organization for a longer span are more loyal towards the management and the organization: They enjoy all kinds of benefits from the organization and as a result are more attached to it. They hardly badmouth their organization and always think in favor of the management. For them the organization comes first and all other things later. ▪ It is essential for the organization to retain the valuable employees showing potential: Every organization needs hardworking and talented employees who can really come out with something creative and different. No organization can survive if all the top performers quit. It is essential for the organization to retain those employees who really work hard and are indispensable for the system. The management must understand the difference between a valuable employee and an employee who doesn’t contribute much to the organization. Sincere efforts must be made to encourage the employees so that they stay happy in the current

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