The Organizations are facing biggest issues to keep good employees in the organization for long period



The most success organizations secret is, its highly skilled and capable employees.
To retain the experienced and qualified people has been a challenge for business organizations over the time. 

Employee turnover is very costly for a business, as it has already spent money on developing those employees. However, No company can force their employees to stay at the organization.
HR professionals have to do is to introduce some retention policies which will really motivate people to work with the company, because attention for employee retention is of the importance in the business world. 

Employee retention is a function of the HR department tasked with reducing the number of employees leaving the company by improving key processes and conditions. The objective is happier, loyal employees that actively want to stay with the company long period. Also it is a process in which the employees are encouraged to remain with the organization for the maximum period of time completion. Before retention policies are made, senior managers must to know that the company suffers from the turnover problems.

Why employees leave

  • ·         They are no longer satisfied with the company.
  • ·         Low job satisfaction,
  • ·         Less motivation factors
  • ·         Not having expected appreciation about the task done
  • ·         Expected growth opportunities not happened  
  • ·         Less employee training

All  companies allocates a significant amount of their profits and time ,to make their employees equipped with modern knowledge and skills that cover the way for winning the market competition. When these employees leave the company, they take knowledge and skills learned at the company into other companies. The situation goes from bad to worse, as most of the employees leaving the business will join with competitors in the same industry.
Employees working for a longer period of time are more familiar with the company’s policies, guidelines and thus they adjust better into the organizational culture.
However, company has to hire people at the rate at which people leave the company. It can be seen that how costly employee turnover.

How to retain the best

  • ·         Organization need to implement retention strategies for the best interest of employees.
  • ·         Better strategies and proper plan to fire poorly performed employees.
  • ·         Continues Employee recognition programs
  • ·         Continues training programs
  • ·         Freedom of expression employee ideas and they feel about the company and complains.
  • ·         Organization should introduce work-life balance strategies coupled with monetary    satisfaction should be introduced.
  •  Creating employee friendly culture  inside and outside  the organization 


Employee turnover can cause domino effect, tarnishing the goodwill of the company. It is proved that sometimes, people are pushed out of the organization, due to the low job satisfaction. Nevertheless, at some cases, people are pulled by better chance in the industry. Having avoided all these negative factors, an organization should be able to retain those important for the organization.

Reference
Aguenza, B.B. & Som, A.P.M. (2012) Motivational Factors of Employee Retention and Engagement inOrganizations,  International Journal of Advances in Management and Economics. [Online]Available from: www.managementjournal.info[Accessed on 17th December 2017]


    

Comments

  1. UnknownDecember 19, 2017 at 9:11 AM

    People satisfied also they will be leave on the organisation,they getting good salaries,good working environment,good management but people leave on the organisation.Why ?

    ReplyDelete
  2. NeoshineDecember 20, 2017 at 11:19 AM

    Employee retention is a must for any organization. Out of the actions provided to retain the best, I have a doubt over the point of "have a proper plan to fire the poorly performed employees". In my opinion there are other ways to deal with poor performers and firing will be the last option. Even as the last it needs to be done with deliberately and cautiously due to the possible impact on employee brand and social cultural status.

    ReplyDelete

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